U.S.-based buyout and mezzanine firms raised an estimated $150.9 billion year-to-date through October 17. That figure is up from $125.1 billion at this time last year.
In the past two weeks, Perella Weinberg Partners closed its growth equity fund, hitting its target with $600 million in commitments, eclipsing its original target of $400 million. Another fund that exceeded its target was New Mountain Capital’s fourth fund, which closed at $4.13 billion, above the initial $4 billion goal. Siris Capital re-entered the market with its third fund, aiming to invest in mid-market technology and telecom companies. Siris has set its fundraising target at $1 billion, and has already received backing from Arkansas Teacher Retirement System.
U.S.-based sponsors are also investing at a faster pace than they did last year, having invested $106.3 billion year-to-date, ahead of last year’s $102.9 billion. A notable deal that took place was Berlin Packaging LLC being acquired by Oak Hill Capital Partners for $1.43 billion. Bain Capital was also active in the past two weeks, purchasing an 80 percent stake in Lionbridge Financing Co Ltd, a Chinese provider of financial services, for just over $163 million.