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The booming secondaries market for growth assets is on pause, although deals can still happen if sponsors offer a discount.

In its Q1 earnings call, Ares said it closed a second special opportunities fund at a $6bn hard-cap and will later this year or early next launch a seventh flagship corporate PE fund.

Some 3,801 private equity funds in market are seeking approximately $1.2trn between them, according to PEI data.

Funds in market are seeking an almost 70% increase from the same time last year, according to PEI's latest quarterly fundraising report.

KKR’s $19bn NA XIII, the largest fund in its history, is the first dedicated fund which will implement employee ownership across all majority-owned companies.

The alternatives firm plans to open a Frankfurt office as early as this year as it seeks to tap deal opportunities in Europe’s industrial powerhouse.

Funds set up to allow sponsors to hold assets for longer typically must satisfy both an IRR and MOIC hurdle, research from law firm Paul Hastings has found.

North American GPs accounted for 89% of Petershill Partners' invested capital as of end-December, with the remainder in Europe, according to its maiden full-year earnings.

Nysno Climate Investments, which has backed funds managed by Verdane and Energy Impact Partners, seeks to create capital bridges between Norway and foreign investors.

Fifteen funds exceeded their targets by 23% on average, with General Atlantic and Blackstone achieving the highest disparity.