Kirk Falconer
A key aspect of the firm's strategy is sourcing opportunities it believes 'would benefit from the growth of the US Hispanic population.'
Woollatt talks about his love of finding new spots to ski, his being an 'Italian wine with steak' type of guy, and why he dislikes overuse of the word 'proprietary.'
In recently paying fresh attention to private wealth, GPs, especially the largest ones, have discovered it represents a major opportunity.
The fund's predecessor, PPC III, closed in 2021 at $2.7bn, was then billed as one of the market’s largest family investment vehicles.
A Coller Capital survey found 64% of LPs believe at least one of the private equity GPs they are currently invested with will merge with, or be acquired by, another GP in the next two years.
The new flagship will set off a flurry of additional fundraising. Under General Atlantic’s complex capital structure, commingled funds are matched with five-year managed accounts and evergreen managed accounts.
Inovia Growth Fund III held the close this month and will now focus on raising the rest of its $450m target, CEO Chris Arsenault told Buyouts, with a final close expected before the fall.
Summit is targeting slightly more for Fund XII compared to its predecessor, wrapped up three years ago at $8.35bn.
Otro will make operationally oriented control and significant minority investments in sports-related businesses and assets, sources said, targeting dealflow mostly in North America and Western Europe.
In a tough capital-raising market, GPs are offering more incentives to LPs. This seems to be the approach taken by Constitution, which is offering a 50% fee discount to early investors in Ironsides VII.