Kirk Falconer

The fund's LPs include Todd Boehly-led holding company Eldridge and Finback Investment Partners, a private equity firm chaired by ex-Florida governor Jeb Bush.

Performance may give Greenbriar an edge in a difficult fundraising environment. Fund V was as of March earning an 84% gross IRR, while Fund IV was earning a 76.3% percent gross IRR.

Rising rates – reinforced this week by the Federal Reserve’s vow to continue battling inflation – are motivating LPs to explore asset classes which provide some measure of refuge. One of the beneficiaries appears to be private debt.

Led by managing partner Ted Yun and founding partner Kurt Larsen, NexPhase spun out of Moelis in 2016 and closed its debut fund two years later.

Altas has been in hiring mode of late. This has happened alongside the marketing of a third flagship offering, Altas Partners Holdings III, targeted to bring in $4bn to $5bn.

Antares’ Fund II is the latest of several new direct lending products to hit the market, all seemingly aimed at growing LP demand for private credit in a rising-rate environment.

'Private markets will ultimately follow the lead of public markets,' senior managing director Sachin Bavishi said. 'It creates an interesting environment for us, an environment that for deploying capital is more favorable than it was in 2021.'

Hoffman shares with us his crush-it karaoke song, his fantasy job at a New England bed-and-breakfast, and his thoughts on why reputation is everything in private equity.

Estimated to total about $530bn this year, Michael Rees expects the investable market for GP stakes funds to reach about $749bn by 2025.

With $8bn in the bank, Fund VI would have 64 percent of its target. The vehicle could secure as much as $15bn, sources told Buyouts last year.