Emerging private equity fund managers must have taken an extra summer vacation. Just five emerging managers raised $848 million from Aug. 28 through Sept. 10, according to Buyouts data, nearly $1 billion less than the prior fundraising period. This period also saw the fewest funds in market this year.
Year to date, new managers have raised a combined $42.2 billion, according to Buyouts.
Zebra Capital Management led the fundraising charge. Its sophomore fund closed on more than $404 million from 18 investors, a filing with the SEC showed. The fund targets $700 million.
Zebra Capital was founded by Roger Ibbotson, professor emeritus of finance at Yale University. The fund seeks fundamentally strong but overlooked, less demanded securities.
OnyxPoint Global Management raised the second most. The New York-based firm raised $303.3 million of a targeted $400 million from 29 investors, according to an SEC filing. The firm focuses on the energy sector, making investments across the upstream, mid-stream, oilfield services and manufacturing and power sectors.
LNC Partners was third, raking in $109 million from 45 investors for its sophomore fund. Its debut fund, Leeds Novamark Capital I, closed on $236 million in 2014. The firm provides capital solutions to lower middle market companies.
Below is a rundown of the most significant emerging private equity funds that Buyouts has identified as being in the market over the past few weeks:
Estancia Capital Partners
- Fund name: ESTANCIA CAPITAL PARTNERS FUND II, L.P.
- Focus: Buyout and growth equity investments primarily on small-to-lower middle market firms in the asset management industry.
- Amount raised: $27.6 million
- Target: $300 million
- Location: Scottsdale, AZ
- Phone: +1 480-448-5001
- Filing: https://bit.ly/2khUld1
- Fund name: LNC Partners II-SBIC, L.P.
- Focus: Capital solutions to lower middle market companies.
- Amount raised: $109.4 million
- Target: N/A
- Location: Reston, VA
- Phone: 703-651-2149
- Filing: https://bit.ly/2lIyhZg
OnyxPoint Global Management
- Fund name: ONYXPOINT PERMIAN EQUITY III LP
- Focus: Upstream, mid-stream, oilfield services and manufacturing and power sectors.
- Amount raised: $303.3 million
- Target: $400 million
- Location: New York City
- Phone: +1 212-235-2013
- Filing: https://bit.ly/2kAwVjd
- Fund name: PRIME Impact Equity Fund I, LLC
- Focus: Companies that combat climate change with a likelihood of achieving commercial success.
- Amount raised: $3.3 million
- Target: N/A
- Location: Cambridge, MA
- Phone: +1 781-254-2929
- Filing: https://bit.ly/2mhGELJ
Zebra Capital Partners
- Fund name: Zebra Capital Partners II, L.P.
- Focus: Fundamentally strong but overlooked, less demanded securities.
- Amount raised: $404.1 million
- Target: $700 million
- Location: Stamford, CT
- Phone: +1 203-701-5900
- Filing: https://bit.ly/2kKe7ho
Download a spreadsheet with information about all of the funds: Emerging PE Roundup