Arclight Capital Partners has collected nearly $4.2 billion for ArcLight Energy Partners Fund VI LP and shot past its $4 billion target. Friedman Fleisher & Lowe’s fourth flagship fund hit its hardcap of $2 billion and will look to invest in companies in the consumer products and services industry. Some of the investors in the fund include the Arizona State Retirement System, the Washington State Investment Board and the Canada Pension Plan Investment Board. The Cortec Group also hit its hardcap when it closed Cortec Group Fund VI LP at $1.1 billion. Some smaller funds also did their part in raising the tide; RCP Advisors pooled $328 million for its small buyout co-investment fund, and Inverness Graham held a $283 million final close on its third fund, which was only targeting $225 million.
Meanwhile, the completed deals sum jumped by over $7 billion since Buyouts last went to press and is $3.5 billion in front of where it stood at this time in 2014. Of the deals completed with disclosed values, there were three that eclipsed $1 billion in price. The largest was Blue Coat Systems Inc, bought by Bain Capital from Thoma Bravo for $2.4 billion. Next in line was Harbinger Capital Partners buying Armored AutoGroup Inc from Avista Capital Partners for $1.4 billion. Lastly of the three was a joint venture between Welsh Carson Anderson & Stowe and Select Medical Holdings acquiring Corp Concentra Inc from Humana Inc for a little under $1.1 billion.
(Correction: The original version of this story incorrectly referenced a fund raised by Irving Place. The reference has been removed, since Irving Place did not raise a primary fund. The overal fundraising tallies were corrected accordingly.)