Fundraising

State of Wisconsin Investment Board’s head of co-investments discusses the state of the PE market this year and how the slow fundraising environment is impacting things like term negotiations and co-investing opportunities.

The European tech investor closed on €1.1bn for Verdane Edda III, which makes minority and majority investments in single companies.

Tokyo-based Basic Capital Management is back in the market for its latest strategy after a nearly four-year hiatus since its last flagship.

The closings were 'a significant accomplishment, given the persistent industry headwinds in private equity fundraising', CEO Jon Winkelried says.

The fund secured $2.1bn in Q4, together with more than $400m in side-car co-investment capital, according to chief financial officer Alan Kirshenbaum.

Panellists at affiliate title Private Funds CFO's New York Forum shared tips including the importance being proactive about LP relationships and having cross-team support.

The firm's latest and largest fund will have diversity targets for portfolio company leadership teams, according to partner Nnennia Ejebe.

Private equity fundraising fell for the second year in a row last year, with the number of funds closed almost matching the number seen in 2017.

Technological developments in the real estate space mirror the progress being made in the democratisation of private equity, writes Kyle Hagerty.

Capital raised in final closes last year slid to $785bn, with total inflows to the smallest number of vehicles since 2019.