Emerging Managers: TCG, Lake Whillans, Asia Partners

The end of the year is now in sight, and emerging managers are making a strong push to close funds before it arrives. Eleven fund managers raised $1.1 billion from Oct. 23 through Nov. 5, according to Buyouts data.

Year to date, new managers have raised a combined $46.2 billion, according to Buyouts.

The Chernin Group, or TCG, was responsible for most of the recent frenzy. The Playa Vista-based firm raised $700.9 million across two funds: it’s TCG 2.0-A fund raised $441.9 million from 77 investors, while TCG 2.0-B raised $259 million from 5 investors, filings with the SEC showed.

The Chernin Group was founded in 2010 to acquire and operate direct-to-consumer brands in media and tech.

Lake Whillans was second with its debut fund, which raised $121.3 million. The firm is a litigation finance firm, providing funding for companies in litigation or arbitration. The firm invests in claims at all stages: pre-filing through post-judgement.

Asia Partners was also in market with its debut fund, which raised $78 million. The Singapore-based firm looks to help the next generation of Unicorns from Southeast Asia by supplying growth capital. It focuses its investments in technology and tech-enabled companies.

Below is a rundown of the most significant emerging private equity funds that Buyouts Insider has identified as being in the market over the past few weeks:

Asia Partners

• Fund name: Asia Partners I LP
• Focus: Growth equity for technology and technology-enabled companies that are transforming Southeast Asia’s economy.
• Amount raised: $78 million
• Target: N/A
• Location: Singapore
• Phone: +65 6950 7027
• Filing: https://bit.ly/2XphlWt

Banner Ridge Partners

• Fund name: Banner Ridge Secondary Fund III (TE), LP
• Focus: Opportunities in high-quality distressed private equity, hedge fund side pockets and out-of-favor managers.
• Amount raised: $18 million
• Target: N/A
• Location: New York City
• Phone: +1 212-301-7135
• Filing: https://bit.ly/330P75w

The Chernin Group

• Fund names: TCG 2.0-A, LP, TCG 2.0-B, LP
• Focus: Consumer businesses.
• Amount raised: $700.9 million
• Target: N/A
• Location: Playa Vista, Calif.
• Phone: +1 310-633-2900
• Filing: https://bit.ly/2O1gwAh; https://bit.ly/2r33mth

Crow Holdings Capital

• Fund name: CHC Direct Investment Fund I, L.P.
• Focus: Real estate, industrials, retail, tactical and distressed opportunities.
• Amount raised: $49.1 million
• Target: N/A
• Location: Dallas, TX
• Phone: +1 214-661-8333
• Filing: https://bit.ly/37qERHk

Goldfinch Partners

• Fund names: GOLDFINCH CO-INVEST I LP; GOLDFINCH CO-INVEST II LP
• Focus: Growth capital to enterprise technology companies.
• Amount raised: $12.5 million; $15.3 million
• Target: $12.5 million; $15.3 million
• Location: Seattle
• Phone: +1 206-531-0002
• Filings: https://bit.ly/2XmZK1q; https://bit.ly/2Qtag5O

Lake Whillans

• Fund name: LAKE WHILLANS FUND I LP
• Focus: Litigation finance.
• Amount raised: $121.3 million
• Target: N/A
• Location: New York City
• Phone: +1 646-389-1032
• Filing: https://bit.ly/2QBfIUp

North Pacific Group

• Fund names: NORTHERN PACIFIC INVESTMENT PARTNERS II, L.P.; NORTHERN PACIFIC INVESTMENT PARTNERS II-A, L.P.; NORTHERN PACIFIC INVESTMENT PARTNERS II-B, L.P.
• Focus: Upper Midwest companies in technology and business service sectors.
• Amount raised: $16.4 million
• Target: $200 million
• Location: Wayzata, MN
• Phone: +1 952-456-5300
• Filings: https://bit.ly/2rXYKW1; https://bit.ly/2XpE30A; https://bit.ly/35nMY5J

O’Brien-Staley Partners

• Fund name: OSP Value Fund II-B, LP
• Focus: Value investing, impact strategy, nationwide loan servicing.
• Amount raised: $5 million
• Target: $300 million
• Location: Edina, MN
• Phone: +1 612-770-7050
• Filing: https://bit.ly/2CWGZsm

Presido Investors

• Fund name: Presidio Investors Fund II, LP
• Focus: Small buyouts in technology and media.
• Amount raised: $62.3 million
• Target: N/A
• Location: San Francisco
• Phone: +1 415-449-2544
• Filing: https://bit.ly/33UJGGy

Virtua Capital Management

• Fund name: Virtua Hospitality Opportunity Zone Fund I, LLC
• Focus: Opportunity Zones
• Amount raised: $7.7 million
• Target: $200 million
• Location: Scottsdale, AZ
• Phone: +1 619-764-9633
• Filing: https://bit.ly/2KvBAN6

Download a spreadsheet with information about all of the funds: Emerging PE Roundup