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Because of the greater sophistication necessary for private equity investing, what’s not likely any time soon is that individual investors will be able to directly invest in a private equity fund as a standalone product.

The changes followed a proposed management buyout that was rejected in a London meeting of the LPAC in the first half of last year, PEI has learned.

The investment firm's ASF VIII programme ranks only behind vehicles raised by Blackstone and Apollo Global Management in terms of capital raised.

A growing investment choice for LPs pre-covid-19, growth capital strategies could emerge as a heavyweight from the crisis.

The pan-European firm has yet to begin investing the fund, which raised around €1bn from new investors.

Industry bodies and heavyweights such as David Rubenstein have urged governments to grant private equity access to public funds.

As an example of the practice surfaces, an industry body is warning other companies not to use the covid-19 outbreak as an excuse to try and raise additional finance through flexible documentation.

The mid-market firm has wrapped up fundraising for its eighth flagship fund, gathering more than €1bn in commitments.

Firms including Blackstone, Carlyle Group and KKR have reported falls in their private equity portfolios this year due to the combined impact of covid-19 and a rout in oil prices.

Clearlake Capital Group gathered more than $7bn for its sixth flagship fund and CVC Capital Partners raised $4.5bn for its fifth Asia-dedicated fund.