The fund’s target size marks a modest increase from Fund VI, which closed on $1.5bn in 2022.
SingleSpoke plans to apply AI to traditional mom-and-pop businesses, starting tech-forward platform companies and using M&A to add on legacy players.
Rising Point's decision early on to operate as an independent sponsor 'played a big part' in the success of Fund I, partner Michael Drai told Buyouts.
The mid-market strategy was designed essentially as a complement to Advent’s flagship global buyout platform.
The firm has recently returned billions of dollars to its investors, while announcing a string of high-profile exits this year.
Clarity and alignment on exits, value creation and succession planning are now essential components of the fundraising formula, an LP tells PEI’s Commitment Issues podcast.
For the energy private equity firm, which has a direct investment model, traction on the fundraising trail may owe to performance.
The changes come as Blue Sea, formed by Richard Wandoff and James R Davis Jr, targets $550m for its fourth fund, Buyouts previously reported.
Fund VI’s target size marks a 25% increase from its predecessor, which closed in 2024 with $600m of capital.
NSP has already succeeded in raising nearly three-quarters of the fund's target – closing on $110m this month, sources told Buyouts.