A rolling record of fund closes and targets across private markets.
Brookfield Infrastructure Fund VI gathered $26 billion in commitments as it heads toward a close still to come. The fund pursues core-plus infrastructure investments globally.
European Diversified Infrastructure Fund IV closed at €6 billion, 50% above its €4 billion target. Igneo Infrastructure Partners invests the vehicle in diversified, mid-market infrastructure across Europe.
Allianz Global Investors closed Allianz Infrastructure Credit Opportunities Fund II (AICOF II) at €1.5 billion, 50% above its €1 billion target. The fund invests in senior and subordinated infrastructure debt across energy, transport, communications, and environmental and social infrastructure in multiple regions.
Junior Capital Opportunities Fund III closed at $1.54 billion, 50% above its $1 billion target and 2.1 times its $737 million predecessor. Churchill Asset Management provides junior debt through the fund to private equity sponsor-backed middle-market companies in North America.
Proterra Credit Fund 3 closed at $680 million. Proterra Investment Partners, the manager behind the vehicle, directs it toward direct lending to lower middle- and middle-market food and beverage companies.
Crescendo Private Equity Fund IV took a first close at $350 million, heading toward its $1 billion target. Crescendo Equity Partners, the firm behind the vehicle, pursues management buyout investments in small and mid-sized Korean technology companies.
Clarion Europe Sale-Leaseback Fund III, managed by Clarion Partners, closed at €552 million. The fund targets sale-leaseback and long-income real estate in European logistics and light industrial assets.
Intera Partners closed Intera Fund V at its €450 million hard cap. The fund makes majority investments in entrepreneur-led Finnish and Swedish service and technology companies to accelerate growth and internationalisation.
Advent International, Clayton, Dubilier & Rice and TPG brought in the biggest sums, all in the last week of October.
The biggest raises came at the end of the month. Advent International raised $30bn across GPE XI and a new mid-market vehicle, Clayton, Dubilier & Rice reached $20bn at an interim close for Fund XIII, towards a $26bn target, and TPG combined $10.4bn across its two Rise Climate funds. All three were announced between 27 and 29 October. TPG also banked $5bn at a first close for TPG Real Estate Partners V, and Blackstone closed Blackstone Energy Transition Partners V at $8.7bn, against $5.6bn for its predecessor.
Secondaries money came in two forms. Pantheon closed its eighth global secondaries fund at $6bn, 71% above target. Meridiam, EnCap Investments, EMK Capital and Energy Capital Partners raised continuation vehicles instead, for a North American infrastructure portfolio, a set of mineral interests, the VDK Groep buy-and-build platform and Next Wave Energy Partners. Blackstone added a $1bn continuation vehicle for one of its credit funds.
As in September, private credit leaned on lending against assets. BBAM closed Incline Aviation III at $1.7bn for aviation credit. Oaktree, which has invested in asset-backed finance for more than two decades, closed Oaktree Asset-Backed Finance Fund at $2bn, lending across equipment leasing, transport, consumer finance, real estate and infrastructure. Northwind Group closed Northwind Debt Fund III at $1bn for real estate bridge loans, twice its target and more than three times its predecessor. ACORE Capital raised $1.1bn for ACORE Opportunistic Credit II, above its $1bn target, and Ares took a first close of $8bn for its senior direct lending funds and is still raising.
Several of the month's biggest raises were first funds. Disruptive Technology Advisers raised $10bn for its debut Disruptive Flagship Fund, backing AI, AI infrastructure and defence technology. The Ares Global Structured Solutions Fund closed at $4.2bn, 4.2 times its $1bn target, for preferred equity in private equity. Further down, Niobrara Capital Partners closed Niobrara Founders Fund at $1.5bn, 50% above target, and Aphias Capital closed Fund I at $1.05bn, above its $900m target.
Healthcare drew steady money. OrbiMed raised $3bn across OrbiMed Private Investments X and OrbiMed Asia Partners VI, and Consonance Capital Partners closed its third healthcare fund at its $1.35bn hard cap.
Several managers came back much larger. LS Power raised $6bn for LS Power Equity Partners VI, more than twice its last fund. Sheridan Capital Partners closed Fund IV at $1.1bn, almost double its last. Among smaller raises, Conversant Capital closed its first real estate fund at $845m against a $500m target, and Monomoy Capital Partners closed Monomoy Family Fund I at $589m, above its $500m target.
Which of this month's first funds comes back for a second?
Figures cover raises tracked by AIP and are not a complete count of the market. Amounts are at approximate exchange rates; first and interim closes are shown at the amount raised so far.
How the Monitor is assembled, what it covers and what it leaves out.
Read the methodology
The Fundraising Monitor records closes and targets for private closed-end funds, including continuation vehicles and single-investor mandates. AIP collects fundraises from multiple sources through the day, and the page updates each morning. A raise is listed once AIP has checked it, against the manager’s own announcement where there is one and otherwise against independent reports.
What we have seen lists every raise announced in the past 20 days, newest first and largest first within a day. Raises in different currencies are ordered at approximate exchange rates. Each raise leaves the list 20 days after its announcement. Amounts are as announced, at the stage shown; first and interim closes show the amount raised so far.
Fundraising news covers the same 20 days. Each write-up is drawn from the manager’s own announcement, on a newswire or its website, for raises of $300m or more. The page holds at most eight, the largest leading, so a write-up can leave before its 20 days are up.
The monthly review looks back over the past calendar month.
This page is assembled automatically and is not checked by a person before it is published.
The Fundraising Monitor is a proprietary automated review. It records the fund raises AIP has tracked, not a complete count of the market, and nothing in it is investment advice or a recommendation.