Over the past two weeks, U.S.-based buyout and mezzanine funds added $5.1 billion in commitments, bringing their sum to $55.8 billion on the year. Fundraising trails last year at this time by $26.5 billion, or 32.2 percent.
Atlas Holdings hit the hard cap and closed its third flagship. Atlas Capital Resources III finished at nearly $1.7 billion, above its $1.5 billion goal.
Frazier Healthcare Partners also went over target, finalizing its ninth primary vehicle at $780 million. This is Frazier’s second pool focused exclusively on growth buyouts of profitable lower-mid-market healthcare companies.
Huron Capital wrapped up its latest fund at $142 million, beating the $100 million target. Huron Flex Fund will make non-control investments in the lower-middle market.
Since Buyouts last went to press, 2018’s dealmaking sum grew by $5 billion. This year’s total now sits at $71.6 billion, leading this time a year ago by $14.1 billion, or 24.6 percent.
The largest deal with disclosed value was for Ply Gem Holdings Inc. Clayton Dubilier & Rice bought the maker of residential building products from CI Capital Partners for more than $2.2 billion.
Fieldwood Energy, a subsidiary of Riverstone Holdings, followed by acquiring the deepwater Gulf of Mexico assets of Noble Energy Inc. The deal for the crude petroleum extraction properties went for $810 million.
Cerberus Capital Management’s buyout of Cedar Creek LLC came in third. The millwork merchant wholesaler went for $413 million.