The charge was spearheaded by American Industrial Partners. AIP is readying the final close on its sixth primary fund at $1.75 billion. Following right behind was Clearlake Capital Group with its fourth flagship fund. Clearlake wrapped up Clearlake Capital Partners IV at its hard cap of $1.38 billion after just three months of fundraising. Roundtable Healthcare Management is nearing the $650 million target the firm set out for on its fourth fund. RoundTable Healthcare Partners IV has pooled $583.5 million so far. Meantime, a debut fund just came to market, ParkerGale Capital LP. ParkerGale, a nascent boutique private equity firm with a focus on technology, is targeting $200 million for its maiden fund. On the mezzanine side, GoldPoint Partners has collected the $300 million it sought for GoldPoint Mezzanine Partners IV LP.
As fundraising continued to chug along, completed deals ground to a halt. While the year’s cumulative total sits around $40 billion more than this time in 2014, the past two weeks saw that total rise about $800 million. Of the deals with disclosed values that took place, a real estate transaction led the way. An investor team of Ivanhoe Cambridge and Callahan Capital Partners bought a 460,000 square foot office campus of PacMutual. The property, located in Los Angeles, went for $200 million. Next was Gabinete Tecnico Contencioso Gescobro SL, a unit of Cerberus Capital Management LP, acquiring the bad loans portfolio of CaixaBank SA. The Barcelona-based credit institution’s portfolio went for €49 million, or an estimated $55.6 million.