EnCap Investments continued the trend of funds finishing above their targets. It held its final close on EnCap Energy Capital Fund X at $6.5 billion, a full $1.5 billion above target. Anthos Capital also held a final close since Buyouts last went to press, meeting its Fund III target of $300 million. Many firms hit the fundraising trail of late, opening new funds for collection. Among those is Warburg Pincus, searching for $12 billion with its twelfth primary private equity fund. Also noteworthy, Cerberus Capital Management launched a fund aiming for $3.5 billion with Cerberus Institutional Partners (CIP) VI. Catterton Partners started raising its second Latin America-focused fund with a target of $500 million.
Meantime, the volume of closed deals shot up another $2 billion, adding to its 2015 total. Kohlberg Kravis Roberts & Co made headlines, taking advantage of trouble in the energy sector by acquiring Veresen Inc-Hythe/Steeprock Gathering & Processing Assets, a Calgary-based provider of pipeline transportation services of natural gas. The deal was worth a reported $791 million. KKR was also part of an investor group in another Canadian natural gas related deal. Veresen Inc partnered with KKR to buy natural gas gathering and compression assets of Encana Corp, located in British Columbia. The deal totaled just under $516 million. Also in the last two weeks, TPG Capital bought Information Solutions & Customer Relationship Management Businesses of Cegedim SA, a French company, for about $524 million.