Research

Market at a Glance – GTCR closes oversubscribed fund at $5.25 bln

November 6 2017

U.S.-based buyout and mezzanine fundraising brought in $7.4 billion since Buyouts last went to press. Thus far in 2017, private equity firms have raised $186.2 billion, leading this time a year ago by $27.3 billion, or 17.2 percent.

GTCR held the major close over the past two weeks. The Chicago shop held the final close on its 12th flagship at an oversubscribed $5.25 billion.

Halifax Group, which focuses on lower middle-market businesses, closed its fourth primary fund on $650 million in commitments.

Also closing its fourth vehicle was New York’s Blue Wolf Capital Partners. Blue Wolf, which reached $540 million in commitments, makes control investments in healthcare, building products, forest products, energy services and defense and government services.

Another Fund IV reaching the finish line was RLH Investors IV. Riordan, Lewis & Haden Equity Partners, an investor in high-growth businesses, wrapped up on $510.6 million.

Dealmaking stayed at a strong pace, watching its total grow $4 billion. The yearly aggregate now sits at $162.2 billion, ahead of 2016’s total by $36 billion, or 28.6 percent.

Of deals with disclosed value, a pair cleared the billion-dollar hurdle.

The largest of the two was Croesus Retail Trust. Blackstone Group bought out the real estate investment trust for a shade over $1.1 billion.

Lone Star Funds followed by acquiring a three-quarters interest in Novo Banco SA, a Portuguese commercial bank, for about $1.1 billion.