The Sterling Group, a Texas-based middle-market private equity firm, has held the final close of Sterling Group Partners VI, which was oversubscribed at its hard cap of $3.5bn.

Magnesium Capital, a private investment firm focused on energy transition buyouts, has held the final close of its inaugural Fund, Magnesium Capital I, at its hard cap of €135m, exceeding the vehicle’s original €100m target.

Registered investment advisers (RIAs) who run private funds for clients have upped their allocations to private equity investments while cutting their exposure to hedge funds over the last nine years, according to a report by Citywire.

US private equity firm Compass Group Equity Partners has closed Compass Group Fund III and hit its hard cap of $408m, the firm’s second oversubscribed fundraising in two years.

Lone View Capital, an LA-based private equity firm investing in the technology sector, has held final close of its inaugural fund, Lone View Capital Fund I with total committed capital of $850m, bringing the firm’s AUM to approximately $1.1bn.

Infrastructure private investment firm Global Infrastructure Partners (GIP), has held the final closing of the GIP Australia Fund II (GIPA II) with aggregate committed capital of AUD4bn (£2.1bn), at the upper end of its AUD3bn to AUD4bn target range.

Thoma Bravo, a private equity investment firm focused on the software sector with a particular focus on enterprise solutions, is planning to raise about $2bn in capital commitments for a new flagship buyout fund, according to a report by Bloomberg.

New York-based PE firm SK Capital Partners, which invests across the specialty materials, ingredients and life sciences industries, has closed SK Capital Partners VI (Fund VI), the latest vintage of its flagship private investment strategy, with $2.95bn in total capital commitments.