AW Private Equity Scorecard: More capital, investor interest

Private equity firms continued to raise vast sums of capital last month, to the tune of more than $10 billion, according to information gathered by Alternatives Watch. All of the funds were oversubscribed, private equity managers said. The largest fund to be raised really closed near the end of January with $3.5 billion, but the figures were only released near the beginning of February. The brand name hedge fund shop’s Tiger Global Private Investment Partners XII according to firm founder Lee Ainslie attracted most existing investors to the new offering, with employees contributing up to 14% of the capital. New York-based Odyssey Investment Partners announced the closing of its oversubscribed sixth investment fund with $3.25 billion. Odyssey Investment Partners Fund VI was formed to pursue control-oriented investments and management buyouts of established middle-market companies. The firm's target sectors include aerospace, defense, insurance services, safety & testing, automated equipment & components, industrial services, equipment rental, pharma services, energy services and packaging. The third largest close was at Charlotte, N.C.-based private equity firm Pamlico Capital, which announced its final close of its Pamlico Capital V at the firm’s hard cap of $1.4 billion in commitments. Oversubscribed, the fund exceeded handily its $1.25 billion target. Leading funds of funds, insurance companies, corporate and foreign pension funds, endowments, foundations and family offices. Since 2002, the firm has raised more than $4.3 billion in aggregate commitments since 2002. “We are honored to have raised PC V so quickly with such strong demand, including participation from nearly all PC IV investors and from a number of new investors,” said Pamlico Partner Art Roselle. Alternatives Watch covered a total of 18 individual private equity mandates in February that combined accounted for just over $1.5 billion in new commitments. Much of the activity has been in the public pension fund space, as some investors are more eager to take on more risk in order to firm-up more long-term gains in their portfolio. Overall, allocators plunked down $6.3 billion across the alternatives’ spectrum, according to the AW Investor Scorecard for February. Charts of both the fund launches and mandates follows. Fund Launches PE Activity Sources: Alternatives Watch reported fund raising and investment mandates in the month of February 2020

AW Private Equity Scorecard: More capital, investor interest

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