Market at a glance

The Blackstone Group hit the hard cap on its massive Blackstone Capital Partners VII, raising $17.5 billion, a full $1.5 billion above its target. It is the second largest LBO fund raised since Apollo Global Management took in $18.4 billion for Apollo Investment Fund VIII LP last year. ArcLight Capital Partners nudged its way closer towards the $4 billion target set for its latest energy fund. ArcLight Energy Partners Fund VI LP now has over $3.9 billion in committed capital. EnerVest held its first close just under halfway to its $2.5 billion final goal on EnerVest Energy Institutional Fund XIV LP.

Another fund exceeding the billion dollar ceiling was Thoma Bravo’s distressed debt-focused Thoma Bravo Special Opportunities Fund II LP. It held a final close $65 million above its $1 billion target. Other mid-market vehicles that wrapped up their fundraising above target were Catalyst Investors and SFW Capital Partners. Catalyst Investors IV LP set out for $350 million and finished with $377 million, while SFW Capital Partners Fund II LP aimed for $325 and closed on $345. Leavitt Equity Partners entered the ring with its debut fund and has already received $75 million of its $100 million goal.

Meantime, the completed deals tally grew by nearly $5 billion since the last issue of Buyouts. Of the deals that were completed, just one carried a disclosed value. Centerbridge Partners acquired Senvion SE, a German manufacturer of wind turbines, in a leveraged buyout for just under $1.2 billion.