Fundraising

The Swedish giant’s latest vehicle will add to the roughly $150bn being sought by firms including Carlyle, Thoma Bravo and Advent.

The software and services specialist is seeking more than $14bn across Hg Genesis 10 and Hg Saturn 3, investor documents show.

The 10 largest funds, including Hellman & Friedman Capital Partners X and Clayton, Dubilier & Rice Fund XI, gathered nearly $150bn between them and accounted for one-fifth of fundraising last year.

PEI caught up with Eastern Bell partner Daniel Sun to discuss how the growth equity firm was able to exceed its fundraising target against such an unfavourable backdrop.

The fundraise comes months after GSAM listed a Petershill portfolio of 19 GP stakes on the London Stock Exchange’s main market in a deal valued at more than $5bn.

Limited partners are hitting their private equity allocation limits just as firms are returning to market asking for larger cheques.

Iron Park Capital, founded in 2019 by GSO co-founder Tripp Smith, is seeking up to $5bn for its second private credit joint venture, Private Equity International understands.

A host of potential entrants to the double-digit fund club, a raft of fund closes below target and an influx of Indian investment are on the cards in the year ahead.

Private Equity International’s top 40 under 40 are set to shape the world of private equity over the coming decade.

The soon-to-IPO firm has raised $49bn, 45% of its total AUM, since 2018.