Market at a Glance – fundraising continues to drag

Over the past two weeks, U.S.-based buyout and mezzanine funds continued their slow pace, adding only $2.8 billion in commitments. Despite the sluggishness, 2018’s total now stands at $28.8 billion, leading this time last year by $2.3 billion, or 8.9 percent.

Juniper Capital Advisors wrapped up its latest pool, compiling $677.5 million for its third flagship. Juniper Capital III will focus on lower-middle-market companies in the oil-and-gas sector, headquartered in the continental U.S.

New State Capital Partners finalized its sophomore institutional fund on its $255 million hard cap. New State specializes in acquiring buy-and-build entrepreneurial companies in the business services, healthcare services and industrials sectors. With Fund II, New State will invest in market-leading companies with $8 million to $30 million of Ebitda.

Making its debut, Prelude Growth Capital closed its maiden vehicle at $80 million in commitments. New York-based Prelude aims for growth equity investments in the consumer sectors, including beauty, personal care, health and wellness, food, beverage and pet, among others.

Since Buyouts last went to press, dealmaking came down to earth, increasing this year’s sum by only $379.3 million. This year’s PE-backed total now sits at $28.4 billion, trailing 2017 by $5.8 billion, or 16.8 percent.

The largest deal with disclosed value was Kohlberg Kravis Roberts’s acquisition of the copper foil and flexible clad laminate business of LS Mtron Co, a South Korea producer of industrial machinery and electronic components. The deal cost $270 million.



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Pricing Table_Mid Mkt_March 2018