U.S.-based buyout and mezzanine fundraising kept rolling strongly through September. Over the past two weeks, the yearly total grew $14 billion. Thus far in 2017, $174.9 billion has been raised, leading this time a year ago by $37.9 billion, or 28 percent.
New Mountain Capital held the major close since Buyouts last went to press. The New York firm closed its latest flagship, New Mountain Partners V, above its $5 billion target at $6.15 billion.
Trivest Partners, a firm that invests heavily in family-owned businesses, hit the top end of its target on its sixth primary vehicle. Trivest Fund VI closed on $600 million in commitments.
Longford Capital Management wrapped up its sophomore offering at an even $500 million. Longford invests in high-value, commendable commercial legal claims, backing portfolios managed by law firms.
Making its debut, Leerink Transformation Partners beat the $250 million target and raised $313 million for its inaugural fund. Leerink specializes in the healthcare information technology and services sector.
Dealmaking enjoyed a healthy two-week period as well, seeing its total grow $8.9 billion. The yearly aggregate now sits at $147.6 billion, ahead of 2016’s total by $25.9 billion, or 21 percent.
Of deals with disclosed value, a pair went above the billion-dollar plateau.
The larger of the two was for WebMD Health Corp. Kohlberg Kravis Roberts & Co acquired the provider of health information services for $2.6 billion.
Apollo Global Management completed the other, buying out ClubCorp Holdings, a golf course and country club operator, for about $2.2 billion.
Additional Data
IPO AFTERMARKET REPORT FOR SELECT BUYOUT-BACKED COMPANIES THAT WENT PUBLIC IN 2017
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