Among those in the market, Apollo Global Management has indicated that it is about halfway toward the $3 billion target on its second natural resources fund. Meanwhile, Summit Partners is back in the market with its ninth middle-market fund. It is seeking $3 billion for Summit Partners Growth Equity IX LP.
Also, Neuberger Berman has gathered $923.9 million for NB Strategic Co-Investment Partners III, according to SEC filings. And two years after closing its debut fund, Trive Capital is back with its sophomore fund, setting a hard cap of $500 million.
In addition, two debut vehicles either closed or nearly closed in the last two weeks: Edge Natural Resources wrapped up ENR Partners LP at $445.7 million, while Main Post Partners gathered $241.3 million on its way to $250 million for its maiden fund.
Deal volume grows
Completed deals rose by $5.7 billion over the past two weeks. The year-to-date total now stands at $136.0 billion, $40.6 billion more than this point a year ago. Of the deals with disclosed values, The Carlyle Group led the way with its acquisition of TE Connectivity Ltd. The Swiss provider of broadband network solutions sold for just under $3.1 billion.
The second-largest deal was for Patterson Cos Inc, a wholesaler of dental equipment and supplies. It was bought by Madison Dearborn Partners for $715 million. Rounding out the top three deals, Warburg Pincus led an investor group that bought half of Banco Santander. The group paid $386.6 million for 50 percent custody of the Sao Paulo, Brazil-based commercial bank and financial service provider.