Market at a glance – Fundraising trails 2015 by 20 pct

As 2016 comes to a close, U.S.-based buyout and mezzanine firms added $6.3 billion over the past two weeks. The 2016 total sits at $183.1 billion and trails 2015’s sum by $45 billion, or nearly 20 percent.

Crescent Capital Group collected $3.5 billion for Crescent Mezzanine Partners VII, its largest in the firm’s 24-year existence.

HGGC hit its hard cap and kicked in GP commitments to reach $1.84 billion in less than 100 days. Vista Equity Partners is also fielding a lot of demand and raised the cap on its latest vehicle. Foundation Fund III is now aiming for $2.75 billion and should close in the near future.

Also receiving attention was CenterGate Capital Partners’s debut. CenterGateFund I pooled $350 million and will focus on lower-mid-market companies in North America.

Deal-making saw a moderate bump as well, adding $5.4 billion to its yearly total. The year-to-date figure is $158 billion, which is $22.3 billion — or 12.4 percent — behind this time in 2015.

Of the deals with disclosed value, a pair passed the $1 billion hurdle.

I Squared Capital Advisors acquired the entire share capital of hydroelectric power generators Duke Energy International Group and Duke Energy International Investments No. 2 for $1.2 billion.  

Next in line was Setefi Services. The provider of online-payment processing was bought out by Mercury UK Holdco for just under $1.2 billion.  


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