In the past two weeks, Hellman & Friedman concluded its eighth mega-buyout fund, closing on $10.9 billion in commitments. Fund VIII’s impressive total came in $2 billion above its target, thanks to backing from such investors as Washington State Investment Board, Los Angeles County Employees Retirement Association and Pennsylvania State Employees’ Retirement System. Meantime, Centerbridge Partners LP beat the $5.75 billion target on its third fund, closing at $6 billion.The initial target was $5.75 billion, and it raised all the way up to $6 billion. Kohlberg Kravis Roberts & Co. held the first close on its second infrastructure fund, KKR Global Infrastructure Investors II LP. Thus far, it has raised $1.9 billion toward a hard cap of $2.75 billion.
On the deal side of the market, the year-to-date completed deal volume lags behind last year’s comparable figure, $115.1 billion to $132.0 billion. Among notable deals of the last two weeks, TPG Capital bought commercial real estate services firm DTZ for $1.1 billion. Fellow mega-firm The Carlyle Group was also active, paying 700 million to buy Dealogic, a provider of data and analytics, market information and capital markets software for financial institutions.