Emerging managers see surge in fundraising, Altas tops list

Emerging managers enjoyed a recent surge in fundraising. Eleven emerging PE funds raised more than $6.2 billion from June 19 through July 2, according to Buyouts data. That’s the second biggest fundraising haul over a two-week period this year, behind the $8.8 billion raised from May 8 to May 21.

Altas Partners rounded up the most. The Toronto-based firm’s sophomore fund raised more than $2.6 billion from 110 investors, according to an SEC filing. No target was listed.

Altas focuses on high-quality businesses and has portfolio companies across a wide range of sectors, including healthcare and industrials, according to its website.

The second-biggest fundraiser was Intermediate Capital Group of New York. It raised $1.1 billion from six investors for its third strategic equity fund, according to an SEC filing. Its predecessor fund closed at nearly $1.1 billion in 2017, according to a regulatory filing.

In third place was Hahn & Co, which is raising its third fund. The firm raised more than $829.7 million across two vehicles. Based in Seoul, Hahn makes corporate acquisitions and investments in South Korea.

Below is a rundown of the emerging private equity funds raised between June 19 and July 2:

400 Capital

• Fund name: 400 Capital Asset Based Offshore Term Fund II LP
• Focus: Residential and commercial mortgage loans and securities, consumer loans and asset-backed securities.
• Amount raised: $100 mln
• Target: $400 mln
• Location: New York City
• Phone: +1 212-612-3101
• Filing: https://bit.ly/2xFguoq

Altas Partners

• Fund name: Altas Partners Holdings II LP
• Focus: Stable, high-quality businesses with sustainable advantages and good long-term prospects.
• Amount raised: $2.635 bln
• Target: Undisclosed
• Location: Toronto
• Phone: +1 416-306-9800
• Filing: https://bit.ly/2XZ36dw

Carnelian Energy Capital

• Fund name: Carnelian Energy Capital III LP
• Focus: Lower-to-middle market North American upstream, midstream and oilfield service sectors.
• Amount raised: $775 mln
• Target: $775 mln
• Location: Houston
• Phone: +1 713-322-7310
• Filing: https://bit.ly/2S8B89V

Corridor Capital

• Fund names: Corridor Capital III LP and Corridor Capital III Parallel LP
• Focus: Specialty manufacturing, value-added distribution and business services.
• Amount raised: $72.9 mln
• Target: Undisclosed
• Location: Los Angeles
• Phone: +1 310-442-7001
• Filings: https://bit.ly/2XAOuBJ; https://bit.ly/2JpghN6

Estancia Capital Partners

• Fund name: Estancia Capital Partners Fund II LP
• Focus: Buyout and growth equity investments primarily in small-to-lower middle market companies in the asset management industry.
• Amount raised: $74.6 mln
• Target: $300 mln
• Location: Scottsdale, Arizona
• Phone: +1 480-448-5001
• Filing: https://bit.ly/2XATYYD

Hahn & Co

• Fund names: Hahn & Co III LP and  Hahn & Co III-S LP
• Focus: Controlling positions in companies in South Korea across a wide range of industries.
• Amount raised: $829.7 mln
• Target: Undisclosed
• Location: Seoul, South Korea
• Phone: +82-2-6353-7900
• Filings: https://bit.ly/2XCO91t; https://bit.ly/2JzdJdV

Intermediate Capital Group (ICG)

• Fund name: ICG Strategic Equity Fund III LP
• Focus: Working with incumbent fund managers to provide liquidity options for existing investors in mature or expiring fund vehicles.
• Amount raised: $1.1 bln
• Target: Undisclosed
• Location: New York City
• Phone: +1 212-710-9650
• Filing: https://bit.ly/2Jrow9S

McNally Capital

• Fund names: McNally Capital – NRN QOF I LLC and McNally Capital – NRN QOF II LLC
• Focus: Opportunity zones.
• Amount raised: $19.6 mln
• Target: Undisclosed
• Location: Chicago
• Phone: +1 312-357-3710
• Filings: https://bit.ly/2JpWJIg; https://bit.ly/32ixKxN

Revelstoke Capital Partners

• Fund name: Revelstoke Capital Partners Fund II LP
• Focus: Healthcare and related business services companies.
• Amount raised: $437 mln
• Target: Undisclosed
• Location: Denver, Colorado
• Phone: +1 303-953-3232
• Filing: https://bit.ly/2WRYgu1

Spring Lange Capital

• Fund names: Spring Lane Capital Fund I LP and Spring Lane Capital Offshore Fund I LP
• Focus: Growth equity within energy, water, food and waste sectors.
• Amount raised: $111.6 mln
• Target: $400 mln
• Location: Boston
• Phone: +1 617-580-9127
• Filings: https://bit.ly/2XMuJqr; https://bit.ly/2xA5Wai

T-Street Capital

• Fund name: T-Street Opportunity Fund I LP
• Focus: Growth equity within consumer products, food and beverage and specialty manufacturing sectors.
• Amount raised: $75 mln
• Target: Undisclosed
• Location: New York City
• Phone: +1 212-380-8218
• Filing: https://bit.ly/32kmi58