Fundraising

The lower mid-market firm closed beyond its $400m target, thanks to its returning LPs.

The London-based global placement agent and secondaries advisor said it completed four primary private equity fund closings in a ‘very strong first half’ for fundraising activity.

The fund, the UK turnaround firm’s first 10-year closed-ended vehicle, is more than three times larger than its predecessor.

At £660m, the fund is almost twice the size of its £360m predecessor.

Spanish special situations manager Black Toro’s second fund, which is on track for a final close, has just announced a €30m investment in women’s shoe retailer Marypaz.

Deal volume and value fell in the first half of 2016, but private equity’s growing firepower is expected to support future M&A activity, a report by Boston Consulting Group says.

The deal for the medical products manufacturer comes as the US buyout firm explores LP appetite for a tenth fund which could target at least $8bn.

In this month's issue of PEI we collaborate with sister title Secondaries Investor to launch our first ranking of the world’s largest secondaries fund managers; it is a market coming of age.

The Africa and south Asia finance sector specialist has amassed $260m for its first fund, which has a $300m hard-cap.