The fourth quarter is off to a strong start for U.S.-based buyout and mezzanine fundraising, which added nearly $10 billion to the 2018 total since the last issue of Buyouts.
Despite the surge, funding trails its YTD 2017 total by $30.9 billion, or 17.2 percent.
No fund came close to Lone Star Funds, which raised nearly $2.9 billion. Its ninth flagship is targeting $6 billion.
Roark Capital is nearing its $2 billion target for its second sidecar fund, raising at least $1.3 billion thus far. The firm invests in consumer products and services.
MidOcean Partners also focuses on the consumer products and services sector. Its fifth fund closed at its hard cap of $1.2 billion, exceeding its $1 billion target.
H.I.G. Capital was just shy of the billion-dollar fundraising mark. Its third growth buyouts and equity fund raised at least $932 million of a targeted $950 million.
The volume of deals completed was even more impressive. Around $35 billion was added to the YTD 2018 total, which stands at more than $206 billion and now surpasses the 2017 total.
Four recent deals cleared the billion-dollar hurdle, two of which crossed the $10 billion threshold.
The largest deal was the $17 billion acquisition of Refinitiv (aka Financial & Risk US Holdings), the New York provider of financial news, information and analysis.
A specialty vehicle formed by Blackstone Group, Canada Pension Plan Investment Board and GICÂ acquired the company from Thomson Reuters.
The specialty chemicals business of Akzo Nobel NV was acquired for $12 billion by Starfruit Finco BV, a vehicle formed by multiple units of Carlyle Group, GIC and other investors.
Akzo Nobel NV Special Chem is the Amsterdam producer of paints and specialty chemicals.
Additional Data
IPO AFTERMARKET REPORT FOR SELECT BUYOUT-BACKED COMPANIES THAT WENT PUBLIC IN 2018
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