Market at a Glance: Fundraising, deals cool down

It was a slow few weeks for U.S.-based buyout and mezzanine fundraising, which added just $4.1 billion to the 2018 fundraising total since the last issue of Buyouts.

Funding trails its YTD 2017 total by $36 billion, or 21 percent.

Most of the recent funding is thanks to Tailwind Capital. Its third flagship closed at $1.8 billion. The fund exceeded its initial target and was oversubscribed, a news release shows.

Rothschild Merchant Banking exceeded the target for its first corporate PE vehicle in the U.S. The fund, Five Arrows Capital Partners, closed at more than $655 million and will focus on lower -middle-market companies across North America.

Balance Point Capital, which also invests in lower-middle-market companies, raised $375.7 million of a $400 million hard cap for its third flagship fund.

Portfolio Advisors added more than $343 million for its third co-investment vehicle, which is still in the market.

Deals completed during these two weeks also slacked, adding only $1.9 billion since the last Buyouts issue. The YTD 2018 total remains strong, exceeding $171 billion. That’s $23 billion, or 17 percent, more than the YTD 2017 total.

The only deal disclosed to clear the billion-dollar hurdle was the $1.2 billion acquisition of EdR Student Housing Portfolio by an undisclosed real estate joint venture, owned by Blackstone Real Estate Income Trust and Greystar Real Estate Partners. EdR Student Housing Portfolio owns and operates student housing assets throughout the U.S.

LSF10 Summertime Investments, a unit of Lone Star Funds, acquired Sino Gas & Energy Holdings, an Australian-based oil and gas exploration and production company, for $401.3 million.

Market At A Glance


Additional Data




Pricing Table_Mid Mkt_October 2018

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