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PE Professional: After three months of fundraising, Long Ridge Equity Partners has held a first and final closing of Long Ridge Equity Partners IV LP (Fund IV) with $730 million of capital commitments. Fund IV was significantly oversubscribed and closed at its limited partner hard cap of $650 million with an additional $80 million of commitments from https://peprofessional.com/blog/2023/07/12/long-ridge-closes-oversubscribed-fund-iv/

Unquote: UK-headquartered asset manager Federated Hermes has held a final close for its fifth flagship private equity co-investment fund after raising USD 486m, according to a statement. https://www.unquote.com/uk/official-record/3029615/federated-hermes-raises-usd-486m-for-fifth-co-investment-fund

Unquote: Mid-market sponsor SGT Capital is focusing on its co-investment pitch and LP geographical diversification, in a shift from its initial fundraising approach as it aims to reach the USD 1.5bn target for its second private equity fund, co-managing partner Joseph Pacini told Unquote. https://www.unquote.com/dach/official-record/3029585/sgt-capital-focuses-on-co-investments-and-lp-diversification-in-next-stretch-of-usd-2bn-fundraise

PE Insights: May River Capital LLC, a Chicago-based private equity investment firm, has raised its third fund, May River Capital Fund III, LP. Fund III closed on its hard cap of $500m in limited partner commitments, exceeding the Fund’s original target size. https://pe-insights.com/news/2023/07/12/may-river-capital-closes-third-fund-with-500m-in-commitments/

PE Insights: MPE Partners (“MPE” or “Morgenthaler Private Equity”), a lower middle market private equity firm based in Cleveland, OH and Boston, MA, is pleased to announce that the firm closed its oversubscribed fourth fund, MPE Partners IV, L.P. at the hard cap of $633m, inclusive of the general partner capital commitment. https://pe-insights.com/news/2023/07/12/mpe-partners-closes-fund-iv-at-633m/

PEWire: Global credit investment manager Marathon Asset Management (Marathon) has held the final close of the Marathon Secured Private Strategies Fund III, the third vintage of its closed-end asset-based lending (ABL) strategy, at $1.7b https://www.privateequitywire.co.uk/2023/07/12/321292/marathon-closes-17bn-asset-based-lending-fund

JDSupra: Cathay Capital Private Equity has announced it has closed its latest fund with $270 million. The new fund, Small Cap IV, will target control and minority investments in healthcare, consumer and software/technology companies across North America, Europe and Asia. https://www.jdsupra.com/legalnews/cathay-capital-closes-new-fund-with-270-4184703/

Capital raising for private equity secondaries funds took up a larger proportion of total fundraising in the first quarter of this year https://www.secondariesinvestor.com/rcp-smashes-hard-cap-with-near-800m-raise-for-secondaries/

Founded in 2001, RCP Advisors is a sponsor of private equity funds-of-funds, secondary funds and co-investment funds https://www.buyoutsinsider.com/alpine-investors-racks-up-4-5bn-for-ninth-fund/

WindRose Fundraise https://www.buyoutsinsider.com/windrose-collects-1-4bn-for-sixth-fund/

Private Equity Insights: Sources said the fund-raising – led by founding partners John White and Patrick Elliott, who together with Sandy Lockhart spun Next out from Macquarie Bank in 2005 – punched through the initial $350m target and attracted half a dozen new investors. https://pe-insights.com/news/2023/07/10/next-capital-announces-fund-v-final-close-at-375m/

The investment by Ryan Reynolds, RedBird Capital, and Otro Capital in Renault's Alpine F1 Team reflects the growing interest of US investors in Formula 1 and the sport's increasing popularity in the United States. The deal aims to raise the visibility of Renault's Alpine electric vehicle line and increase the value of the Alpine F1 brand, aligning with Renault's goal of having more than half of its sales in electric vehicles by 2030. The involvement of experienced sports investors like RedBird Capital and Maximum Effort Investments highlights the potential for cross-vertical success in areas such as ticketing, hospitality, sponsorship, licensing, merchandising, and content. https://www.nytimes.com/2023/06/26/business/dealbook/formula-1-deal-ryan-reynolds-alpine.html