Kirk Falconer
American Pacific Group, founded by Fraser Preston, formerly an HIG managing director, will mostly acquire lower mid-market companies in software and tech.
The Houston private equity firm set a target of $525m and a hard cap of $600m for Fund IV, with a sidecar pool that is offering $150m.
Some LPs are planning to reduce exposure to oil-and-gas funds due to climate change considerations, however, a bigger fundraising challenge in the near term is limited paybacks on existing investments.
While successions may not be a major impetus for most GP stakes deals, the topic of managing generational change in private equity firms is nonetheless vital to minority investors.
Anthony Cusano, Banner Ridge's co-founder and managing partner, started and for nine years ran Siguler Guff's secondaries program.
Émond in late 2019 was appointed to lead Caisse de dépôt et placement du Québec's global private equity strategy.
The secondaries market saw a third year of record-breaking growth in 2019, according to Setter Capital.
Last year, a total of $75 billion was raised by 131 growth equity funds globally, the highest amount in more than a decade.
With about $4.2 bln raised to date, Blackstone Energy Partners III is within striking distance of a reported target of $4.5 bln
EIV is seeking $750 mln for a fourth midstream energy fund, 67 pct more than the amount raised by its 2017 predecessor.
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