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Comvest Partners has announced the successful closing of its Comvest Credit Partners VI fund, raising $2 billion in equity commitments, surpassing its target of $1.7 billion. The fund will provide loan financing to mid-sized North American businesses. The firm attributes its fundraising success to its experienced team and strong track record. Comvest Credit Partners aims to be a reliable source of non-bank debt financing. https://comvest.com/

CenterGate Capital, a private equity firm based in Austin, Texas, has closed its second fund, CenterGate Capital Partners II, with over $375 million in capital commitments. The fund exceeded its original target and received investments from a diverse group of investors including pension funds, endowments, foundations, family offices, and financial institutions. CenterGate has completed twelve platform investments and eighteen add-on acquisitions since its inception and now has a team of over twenty people. https://www.centergatecapital.com/

Private investment firm Bansk Group has announced the final close of its inaugural fund, Bansk Fund I LP, at $800 million. The fund focuses on building distinctive consumer packaged goods brands and has received support from global institutional investors. Bansk now manages approximately $1.5 billion in assets, including co-investments. The firm targets investments in beauty & personal care, consumer health, food & beverage, and household products. Bansk's portfolio includes Woodstream, Arcadia Consumer Healthcare, the Bansk Haircare portfolio (amika, Eva NYC, Ethique), and Red's All Natural. Bansk seeks to partner with exceptional founders and management teams to drive growth and long-term success in the consumer landscape. https://www.banskgroup.com/

Dallas-based private equity firm Valesco Industries has raised an oversubscribed $434 million fund, exceeding its initial target of $375 million. The fund, Valesco Fund III, will be used for platform investments in 12 to 15 companies. Despite a challenging fundraising environment, Valesco was able to secure commitments from regional banks, community banks, high-net-worth individuals, and family offices. The firm primarily invests in US-based lower middle-market businesses in manufacturing, distribution, and value-added services. Valesco has several deals in the pipeline and plans to be an active investor in the coming months. https://valescoind.com/

Atlanta-based firm Eagle Merchant Partners has closed a $266 million fund to invest in lower middle-market companies in the Southeast. The fund focuses on businesses in the industrial and consumer sectors, with a preference for growth-oriented founders. The fund allows the partners to secure investors first and then choose where to allocate the capital. Despite a decline in private equity deals, the partners successfully raised the fund over an 18-month period. They attribute their success to their specialization in the Southeast market. The firm has already made six investments with the new fund, with an average check size of $25 million. The partners expect to complete a total of eight to nine deals. https://www.eaglemerchantpartners.com/

LKCM Headwaters Investments, a Fort Worth-based private equity firm, has raised $725.2 million for its fund focused on control and strategic investments in lower middle-market companies. https://www.lkcmheadwater.com/

CVC Capital Partners IX has closed at €26 billion, becoming the largest-ever buyout fund, surpassing Blackstone's Capital Partners VIII fund. The strong demand from institutional investors highlights CVC's consistent outperformance and long-term relationships. With a total AUM of over €140 billion, CVC is well-positioned to partner with entrepreneurs and management teams to develop better businesses worldwide. https://www.cvc.com/

Private equity real estate firm Kildare Partners has raised $389.3 million for its new fund, targeting a total of $600 million. https://www.kildarepartners.com/

https://equable.org/wp-content/uploads/2023/07/Equable-Institute_State-of-Pensions-2023_Final.pdf

https://equable.org/wp-content/uploads/2023/07/Equable-Institute_State-of-Pensions-2023_Final.pdf

https://www.dasseti.com/ManagerCompendium2023

CalPERS is focusing on private markets despite expecting valuations to decline further, particularly emphasizing infrastructure investments. The pension fund is reducing private equity valuations but increasing co-investments to cut fees and improve returns. CalPERS is cautiously expanding its venture capital portfolio, anticipating write-downs in the near future. https://www.pionline.com/pension-funds/calpers-leaning-private-markets-despite-looming-write-downs