Weekly Giving Roundup: Notable Fundraising Developments in the Private Equity Sector
In the world of finance, several significant investment funds have recently announced their focus on energy transition and infrastructure debt. Here's a roundup of the latest developments:
Brookfield Asset Management has set its sights on raising at least $7bn for its fourth infrastructure debt fund. The new fund will continue Brookfield's established approach, investing in both junior and senior infrastructure debt. A substantial portion of the fund is expected to be allocated to data and renewable energy assets, following the trend set by Brookfield's previous infrastructure debt fund, which closed in November 2023 with over $6bn in investor commitments and is now largely deployed.
Blackstone Energy Transition Partners IV has successfully completed fundraising at its $5.6bn hard cap. This private equity fund, focused on energy transition, will capitalise on the growing demand for electricity, grid reliability, and energy efficiency, as highlighted by David Foley, Global Head of Blackstone Energy Transition Partners.
Neuberger Berman has closed its NB Real Estate Secondary Opportunities Fund II LP (RESOF II) at $1.05bn, surpassing its $800m target. The fund, which focuses on real estate secondaries, aims to provide liquidity to limited partners and recapitalise existing assets. The investor base for the fund includes a diverse group of corporate and public pension funds, endowments, foundations, insurance companies, family offices, and high-net-worth individuals from North America, Europe, and Asia.
Meanwhile, Northern Trust has expanded its partnership with Alchemy Partners. The partnership will see Northern Trust providing asset servicing solutions for the newly launched Alchemy Special Opportunities Fund V (ASOF V), which raised €1bn ($1.03bn) in total commitments. This fund, 33% larger than its predecessor, is focused on real estate secondaries, acquiring stakes in mature funds, and providing liquidity to limited partners. Northern Trust will deliver fund administration, depositary, banking, custody, and credit services from its Guernsey office for ASOF V, continuing a relationship that dates back to 1997.
Lastly, Thoma Bravo has closed its first Europe-focused fund at approximately €1.8bn ($2bn) for investing in innovative middle-market software companies across Europe.
These developments underscore the growing interest in energy transition and infrastructure debt among global investors, signalling a shift towards a more sustainable and technologically advanced future.
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