Kirk Falconer
In a statement issued this week, the firm said it had secured nearly two-thirds of PCM Fund II's target in a first closing.
As of December, the firm had raised three-quarters of the $20bn target for Clayton, Dubilier & Rice Fund XII, sources told Buyouts.
At $3.3bn, Fund VII would be the largest pool in Levine Leichtman’s nearly four-decade history. It would be 32% larger than Fund VI, closed in 2019 at $2.5bn.
As of March, Fund III was performing strongly, with a 1.6x net multiple and a 53% net IRR.
Northleaf's new Tokyo office marks “an initial step in the region,” APAC head Pentland told Buyouts, that could precede the opening of a third Asia-Pacific location, potentially in Seoul.
Unlike many of its peers, Waud did not greatly increase the new vehicle’s ticket size. On the contrary, Fund VI is seeking slightly less than the amounts raised by its two predecessors.
As 2023 promises to be another challenging year for fundraising, GPs of all types and sizes may have to brace for further changes in market dynamics.
Fund IV is expected to reach its target and cap by the summer of 2023, sources told Buyouts.
Fund VII will concentrate on investing in mid-market companies in business services and consumer sectors, relinquishing a prior focus on energy.
Some 252 buyout, growth equity, venture capital and other PE vehicles in North America secured $111bn between July and September, down 20% from the second quarter.
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