Market at a glance – Summer is over but fundraising stays hot

U.S.-based buyout and mezzanine fundraising continues to spike, having piled up $12.6 billion in the past two weeks. This year’s sum is gaining on 2015’s towering amount and now sits just $20 billion — or 13 percent — below this time last year.

The big news was Thoma Bravo reaching an oversubscribed $7.6 billion final close on its 12th flagship fund. Vista Equity Partners is also preparing a wrapup: Vista Foundation Fund III is imminently closing at its $2.5 billion hard cap.

Swander Pace Capital hit $510 million for its sixth primary fund, going 28 percent beyond the $400 million target. In the shallow end of the pool, Spell Capital Partners, a shop focused on small deals of $10 million to $50 million, concluded its Fund V, raising $65 million against a $50 million target.  

Deal-making also had a nice growth spurt. Over the past two weeks, the year-to-date closed-deals total grew $6.7 billion, climbing to $116.8 billion. The aggregate sits $19.2 billion, or 14 percent, behind 2015’s deal pace.

Apollo Global Management was responsible for the majority of the charge. Apollo bought out Diamond Resorts International Inc, an owner and operator of Las Vegas hotels, for nearly $3.1 billion.

Following was MacAndrews&Forbes-backed Revlon Inc acquiring fellow cosmetics firm Elizabeth Arden Inc for $850.7 million. Advent International also joined in: Through its Allnex Belgium subsidiary, it absorbed Nuplex Industries, a Sydney, Australia, chemicals developer, for $800.1 million.


Additional Data