Market at a Glance: If you thought last year was busy on the fundraising trail, this year is better

In the past two weeks, U.S.-based buyout and mezzanine fundraising continued its early-year surge. Since the last issue of Buyouts, fundraising added $9.6 billion to its YTD total, which now stands at $123.2 billion — $58.6 billion more than the 2018 YTD total.

Arsenal Capital led the charge. Its fifth fund closed on $2.36 billion, which is $1 billion more than its prior fund. The firm targets specialty industrials and healthcare platforms.

Altas Partners also raised more than $2 billion. The firm’s sophomore fund can hold investments longer than traditional PE funds.

GoldenTree raised $1.1 billion to close its third distressed fund at $1.7 billion. The fund will focus on global opportunities in mid- and large-cap companies.

HPS Investment Partners raised $1.1 billion for its fourth mezzanine fund. The firm, originally a division of Highbridge Capital Management within JP Morgan, is targeting $8 billion, as reported by Buyouts.

Lovell Minnick raised $460 million, bringing its fifth fund to more than $1.2 billion. The Pennsylvania firm focuses in financial services.

Meanwhile, dealmaking continues at a slow pace, adding only $1.5 billion to the YTD 2019 total. Though it is catching up to its 2018 YTD total, dealmaking still trails by $5 billion.

The largest deal took place in the materials industry. Atlas Holdings merged with International Wire Group Holdings, a maker and wholesaler of copper and copper wire products, for $314 million.