Chris Witkowsky
The firm is among a group of emerging managers testing a market that has been slow to open up to newcomers.
EW’s process was indicative of the kind of work that happens out of the spotlight, which is mostly trained on the big headline-grabbing deals done by high-profile firms like Leonard Green, New Mountain and TPG.
Some of the most successful recent fundraisings have involved sector specialists, including those focused on software investing and various aspects of healthcare.
After a career spent in public markets investing, Driehaus saw a niche to partner with founders looking for some liquidity and help in expanding their businesses.
The firm raised the bulk of Fund VI before markets shut down in the pandemic, but still managed to solicit commitments from investors after everything slowed.
The executives, Tim Short and Benoit Allehaut, joined KKR to focus on investments in what the firm calls “energy transition."
Secondaries has maintained a steady pace so far this year, though several sources have seen a lull in new offerings hitting the market.
The SEC under President Biden is expected to take a more aggressive role in regulating and punishing bad practices across corporate American, including private equity.
Crosspoint is one of a group of first-time funds braving the pandemic-battered markets that have led LPs to mostly stick with their established GPs.
The deal is leading off a year that many secondary market players expect to be particularly busy with not only GP-led transactions like restructurings but also large, traditional LP portfolio sales.
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