Private equity returns surpassed those of private credit in the third quarter of last year, signalling a potential longer-term rebalancing between the two investment markets, according to a report by Bloomberg citing data from State Street.
Global private equity dealmaking saw a 7% increase in buyout capital in 2024, reaching $511.6bn compared to $478.3bn in 2023, although the fundraising environment remained difficult, according to the Private Equity Q4 2024: Preqin Quarterly Update report.
Cogenuity Partners, a lower middle market private equity firm investing in businesses operating within the advanced industrial economy, has closed its inaugural fund, Cogenuity Fund I, with $425m in total capital commitments.
Blue Sage Capital, a Texas-based private equity firm that has been investing in lower middle-market companies since 2002, has held the final close of Blue Sage Capital IV at $618m, including a substantial commitment from the General Partner.
Nearly three-quarters (74%) of US pension plan managers are anticipating a rise in private equity distributions over the next three years, according to a report by Banking Exchange citing a new survey by financial software specialist Ortec Finance.
Chicago-based PE firm Frontenac, which focuses on lower middle-market companies in the consumer, industrial, and services sectors, has closed its 13th fund, Frontenac XIII Private Capital, with $900m in total committed capital, exceeding its $700m target.
The Los Angeles Fire & Police Pension System has approved commitments totalling $382.2m across six private equity funds and one private credit fund, continuing its strategy of diversifying its $32.5bn portfolio, according to a report by Private Equity Insights.
Francisco Partners has held the final close of its third credit fund, FP Credit Partners III, with $3.3bn in total capital commitments – surpassing its initial $2.3bn target and its predecessor fund, which closed at $2.2bn in October 2021.
SUSI Partners has raised $139m in additional investor capital for its Southeast Asia-focused strategy, more than doubling its size to $259m, with sizeable commitments from British International Investment (BII) and Dutch development bank FMO.
Thoma Bravo has closed its largest credit fund to date, Credit Fund III, securing $3.6bn in total available capital, including anticipated leverage. The fund will focus on senior secured debt investments in sponsor-backed software companies.
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