After a strong initial push to the end of the year, emerging managers took a step back over the last roundup period. Nine fund managers raised $808 million from Nov. 6 through Nov. 19, according to Buyouts data, down from the previous period, in which 11 managers raised $1.1 billion.
Year to date, new managers have raised a combined $47 billion, according to Buyouts.
P4G Capital led all firms, raising $196.8 million of a targeted $200 million for its debut fund. The San-Francisco based firm provides growth equity in manufacturing, infrastructure, industrial and business services companies.
OpenGate Capital was second, adding another $135 million across two vehicles, closing its sophomore fund at more than $582.5 million, according to filings with the SEC. The firm originally listed $450 million as the target after its initial close.
OpenGate Capital was founded in 2005 to acquire companies across North America and Europe in the industrials, technology, consumer and business services sectors.
Hunter Street Partners was third, raising $70.5 million for its debut master fund. The sum was amassed by seven investors, according to a filing with the SEC. The Minneapolis-based firm focuses on corporate finance, real estate and specialty finance..
Below is a rundown of the most significant emerging private equity funds that Buyouts identified as being in the market over the past few weeks:
- Fund name: Advantage Capital Solar Partners III, LLC
- Focus: Established and emerging companies located in communities undeserved by conventional source of capital.
- Amount raised: $60.3 million
- Target: N/A
- Location: New Orleans
- Phone: +1 504-522-4850
- Filing: https://bit.ly/2KXtlJN
Hunter Street Partners
- Fund name: Hunter Street Master Fund I, LP
- Focus: Corporate finance, real estate, specialty finance.
- Amount raised: $70.5 million
- Target: N/A
- Location: Minneapolis, MN
- Phone: +1 612-404-3100
- Filing: https://bit.ly/2Oqpyad
- Fund names: OPENGATE CAPITAL PARTNERS II, LP; OPENGATE CAPITAL PARTNERS II, LP
- Focus: Industrials, technology, consumer and business services.
- Amount raised: $135 million
- Target: $582.5 million
- Location: Los Angeles
- Phone: +1 310-432-7000
- Filings: https://bit.ly/34qlBrA; https://bit.ly/34o6L4D
- Fund names: P4G CAPITAL PARTNERS I, L.P.; P4G CAPITAL PARTNERS I-A, L.P.; P4G CAPITAL PARTNERS I-B, L.P.
- Focus: Manufacturing, infrastructure, industrial and business service companies.
- Amount raised: $196.8 million
- Target: $200 million
- Location: San Francisco
- Phone: +1 415-510-2160
- Filings: https://bit.ly/2XPdK42; https://bit.ly/2qN8ylh; https://bit.ly/2si7ia9
Ramas Capital Management
- Fund name: Ramas Energy Capital III, L.P.
- Focus: Energy, oil and gas.
- Amount raised: $24.4 million
- Target: N/A
- Location: Houston, TX
- Phone: +1 713-322-5194
- Filing: https://bit.ly/2XNWfkR
- Fund name: STRATEGIC INVESTMENT FUND I, LLC
- Focus: Opportunity Zones.
- Amount raised: $2.8 million
- Target: $50 million
- Location: Atlanta, GA
- Phone: +1 404-478-7872
- Filing: https://bit.ly/35BFDPN
Sweetwater Capital Partners
- Fund name: Sweetwater II C LLC
- Focus: Liquidity, solutions and secondaries.
- Amount raised: $20 million
- Target: $20 million
- Location: Encinitas, CA
- Phone: +1 760-652-6353
- Filing: https://bit.ly/2QWPgVd
- Fund name: West Monroe Capital Fund I, LLC
- Focus: Digital investments in the middle market.
- Amount raised: $1.1 million
- Target: $10 million
- Location: Chicago
- Phone: +1 312-602-4000
- Filing: https://bit.ly/35GACFB
Download a spreadsheet with information about all of the funds: Emerging PE Roundup
Update: This article was updated to remove Varagon Capital Partners. Its VIVA FUND I is a SPV, not a debut fund.