Despite many observers expecting a marked slowdown in asset flows, private market managers collected over $95 billion last month, according to the AW Research Manager Scorecard for July.
Private equity funds led the way, accounting for 74% of capital raised during the month with $70 billion mostly going to funds closing at over $1 billion.
Overall alternative assets raised was 6% higher than last July when managers attracted $81 billion. As allocators continued to pour capital into private equity and credit strategies, the largest funds soared in size with the top ten largest fund closes totaling over $71 billion.
The largest fund close was CVC Capital Partners IX that saw extraordinary interest from large institutional investors, attracting $29 billion in assets. Investors included: Massachusetts Pension Reserves Investment Management Board; Rhode Island Employees’ Retirement System; New Jersey Division of Investment; and Louisiana Teachers’ Retirement System.
The second largest asset raise was Antares Capital’s loan fund that closed at $6 billion. Overall credit fund assets accounted for $24.3 billion in asset flows in July. Overall, the figures are similar to what was seen in July 2022, when credit strategies raised over $19 billion in capital.
July 2023 Manager Scorecard
| Manager name | Fund name | Amount raised ($m) | Strategy | Links |
|---|---|---|---|---|
| CVC Capital Partners | CVC Capital Partners IX | $29,000 | private equity | https://bit.ly/3OwdgL2 |
| Antares Capital | Senior Loan Fund II (SLF II) | $6,000 | credit | https://bit.ly/3Yza71I |
| Glendower Capital (CVC Capital Partners) | Glendower Capital Secondary Opportunities Fund V | $5,800 | private equity | https://bit.ly/3QCpZyl |
| Audax Private Equity | Audax Private Equity Fund VII | $5,250 | private equity | https://bit.ly/47vxJs3 |
| Welsh, Carson, Anderson & Stowe | WCAS XIV | $5,000 | private equity | https://bit.ly/3QC8s9D |
| EQT | EQT Exeter Industrial Value Fund VI | $4,900 | real estate | https://bit.ly/45hdTiq |
| Alpine Investors | Alpine Investors IX | $4,500 | private equity | https://bit.ly/3qmu7rQ |
| Astorg | Astorg VIII | $4,400 | private equity | https://bit.ly/44bD0Ce |
| Altas Partners | Altas Partners Holdings III | $4,000 | private equity | https://bit.ly/3DYoq6g |
| Davidson Kempner Capital Management | Fund VI | $3,000 | credit | https://bit.ly/3s8r4nt |
| Neuberger Berman | NB Credit Opportunities Fund II | $2,500 | credit | https://bit.ly/455WVUu |
| Comvest Credit Partners | Comvest Credit Partners VI | $2,000 | credit | https://bit.ly/3YvBGJc |
| Audax Private Equity | co-investment vehicles | $1,800 | private equity | https://bit.ly/47vxJs3 |
| Marathon Asset Management | Marathon Secured Private Strategies Fund III | $1,700 | credit | |
| WindRose Health Investors | WindRose Health Investors VI | $1,400 | private equity | |
| Bain Capital | Bain Capital Insurance Fund | $1,150 | private equity | https://bit.ly/3Yx3kWa |
| Goodwater Capital | Goodwater V and Goodwater Infinity III | $1,000 | venture capital | https://bit.ly/44eXb2o |
| Angelo Gordon | AG Asset Based Credit Fund | $1,000 | credit | https://bit.ly/3DWzUYd |
| Argonne Capital Group | continuation funds | $1,000 | private equity | |
| Audax Private Equity | Audax Private Equity Origins Fund I | $774 | private equity | https://bit.ly/47vxJs3 |
| Long Ridge Equity Partners | Long Ridge Equity Partners IV | $730 | private equity | |
| Shore Capital Partners | Shore Capital Healthcare Partners Fund V | $643 | private equity | |
| Sixpoint Partners | Sheridan Capital Partners Fund III | $575 | private equity | |
| CVC Credit | Apidos XLVI | $504 | credit | https://bit.ly/3qqcvv9 |
| Northwestern Mutual Capital/DWS Group | Four Columns Junior Capital Fund VI | $500 | private equity | |
| NextEnergy Capital | NextPower V ESG | $480 | infrastructure | https://bit.ly/3s6s9fI |
| EJF Capital | Rocade Capital Fund IV and Rocade Capital Offshore Fund IV | $470 | credit | |
| Westlake Village BioPartners | Fund III | $450 | private equity | |
| Cordillera Investment Partners | Cordillera Investment Fund III | $443 | private equity | |
| Proterra Investment Partners LP | Proterra Credit Fund 2 LP | $400 | credit | |
| Gainline Capital Partners | Gainline Equity Fund II | $400 | private equity | |
| Albion River | Albion Platform Holdings LLC | $400 | private equity | |
| Liquid Stock | Fund II | $300 | private equity | |
| Algebris Investments | Algebris Green Transition Fund | $285 | private equity | https://bit.ly/3YyFd9x |
| Eagle Merchant Partners | Eagle Merchant Partners I, L.P. | $265 | private equity | |
| Mayfield | AI Start | $250 | private equity | |
| TLV Partners | Fund V | $250 | private equity | |
| Prime Movers Lab | Fund III | $245 | venture capital | |
| St. Cloud Capital | St. Cloud Capital Partners IV SBIC | $236 | private equity | |
| Sumitomo Mitsui Banking Corporation | $200 | credit | ||
| CoinFund | CoinFund Seed IV Fund LP | $158 | venture capital | |
| ASH Investment Partners | ASH Digital v2 | $150 | private equity | |
| Suffolk Technologies | Suffolk Technologies Fund I | $110 | private equity | |
| WEX Venture Capital | $100 | venture capital | ||
| Distributed Ventures | Fund I | $100 | venture capital | |
| FLORA Ventures | $80 | venture capital | ||
| Valhalla Ventures | Fund I | $66 | venture capital | |
| Supply Change Capital | Fund I | $40 | venture capital | |
| IronGate Capital Advisors | inaugural fund | $25 | private equity | |
| Pure Ventures | Fund II | $20 | venture capital | |
| Total: | $95,049.00 | |||
