Fundraising

Ardian has brought the Seven Mile Capital Partners team under its umbrella, which it helped spin out of Citigroup five years ago.

Fanisi Capital is targeting $75-$100m for its second fund, which will invest across Kenya, Rwanda, Tanzania and Uganda.

The growth-oriented firm raised $410m after fundraising for about three years.

The capital raised for EQT Mid Market US, which had an initial target of $1bn, includes a GP commitment of 2%.

Closed-ended private debt fundraising reached a respectable $67bn by the end of Q3, but last year’s $106bn total will be hard to reach.

Thoma Bravo’s funds have satisfied their LPs to justify their streak of no preferred return going forward.

At the BVCA Summit 2016, investor relations partner Marc St John said overloaded funds would inevitably lead to lower returns.

The Canadian firm closed its latest fund, Penfund Capital Fund V, on C$724m, above both its C$525m target and its predecessor, Penfund Capital Fund IV, which closed four years ago on C$460m.

The fund, focused on the Spanish mid-market, was raised in less than six months.

Dushy Sivanithy, who spent 10 years at fund of funds Pantheon, joins the placement agent and advisor from UK development finance institution CDC Group.