Kirk Falconer

Formentera’s strategy is not the traditional energy PE model, sources told Buyouts. It will instead focus on acquiring producing assets from operators who are motivated to sell.

With the closing, Fund II is 79% larger than Brightstar’s inaugural fund, which collected $710m in 2018.

IMCO generated a one-year net return of 34.2% from its PE investments last year, easily outperforming a benchmark of 9.3%.

Bronner’s hire perhaps signals Palladium’s interest in launching a sixth flagship offering. The New York firm declined to comment.

NB Private Debt Fund IV is already approaching the size of its predecessor, closed in 2019 at $1.7bn.

Ontario Teachers’ last year saw a change in its top PE leadership, with Karen Frank, previously CEO of Barclays Private Bank, replacing longtime head Jane Rowe.

Thoma Bravo earns our top prize for its sale of Ellie Mae for a cool $11bn after purchasing it for $3.7bn only 18 months earlier.

Spurred by a post-pandemic recovery, tech fundraising this year and beyond could outdo recent trends. If so, the $55bn collected in Q1 is perhaps a harbinger.

The partnership between Azimut Alternative Capital Partners and HighPost Capital will include “a capital-raising relationship,” sources told Buyouts.

Fund II will build on Orangewood’s deal-by-deal activity by investing in special situation and growth-oriented opportunities in non-discretionary healthcare, consumer and multi-unit sectors.