Kirk Falconer
The target marks a significant step-up from prior flagships in the series. If Fund IV succeeds in raising $5bn, it will be 61% larger than the 2019-vintage Fund III.
If the target is met, Fund X would easily be Kohlberg’s largest pool to date. It would be 47% larger than Fund IX, completed last year at $3.4bn.
Blackstone has no near-term plans to close the fund, sources told Buyouts, and is instead expected to continue capital raising into next year.
In a third-quarter earnings call, Gerry Schwartz, who launched Onex in 1984, said he will step down as CEO following next year’s annual general meeting.
Because of the perceived greater flow of climate-related opportunities this year, TPG is targeting more fundraising in both 2023 and 2024.
Maniscalco shares with us his exercise routine, his fantasy job as general manager of the Chicago White Sox, and a good piece of advice from Rocky Balboa.
"There has been a shift now to efficient growth," Sageview co-founder and partner Scott Stuart told Buyouts. "This is not a change for us, but it’s a big change in the markets."
Co-headed by partners Michael McGinn and Bo Stanley, the growth platform was established by Sixth Street to provide bespoke capital solutions to mostly US-based mid-to-late-stage companies.
'We’re spending a lot of time with institutions we’ve never spent time with before,' co-CEO Scott Nuttall said in a Q3 earnings call.
The firm secured $14.2b in fresh capital in the third quarter, bringing amounts raised since January to more than $44b.