Castlelake hit the hard cap on its fourth flagship fund, raising $1.9 billion ahead of the $1.5 billion it originally sought. Another fund that wrapped up by hitting its hard cap was Sterling Group Partners IV. The Sterling Group pooled $1.25 billion in about three months.
The Carlyle Group has collected about $1.2 billion, almost hitting the halfway mark for the $2.5 billion target it has on Carlyle Energy Mezzanine Opportunities Fund II LP. After a six year hiatus, Wind Point Partners is launching its eighth fund, with an $800 million target. Also hitting the fundraising trail is OpenGate Capital. After nearly a decade of exclusively investing the capital of its founder, OpenGate Capital Partners I LP will be seeking $300 million. NaviMed Capital is a private equity neophyte, having closed its debut fund. The healthcare-focused, growth equity vehicle raised $110 million.
The pace of completed deals was sluggish in the past two weeks, with the yearly total growing by just $1 billion. Of the deals with disclosed values, Blackstone Group and KKR & Co were involved in the most notable. Summit Materials Inc, a unit of Blackstone, bought the Davenport, Iowa-based assets of Lafarge North America for $450 million. Lafarge is a industrial company that specializes in cement, concrete and construction aggregates. Coming after that was Embarcadero Maritime, which is owned in part by KKR & Co, acquiring Hanseatic Ship Asset Management GmbH for $254.5 million. Hanseatic is a Hamburg, Germany-based provider of freight and cargo services.