Good news for fundraising market

Things are looking rather bright for the fundraising market. Warburg Pincus has closed its latest fund, Warburg Pincus Private Equity X, on $15bn, exceeding its $12bn target. The last private equity fund the GP closed was on $8bn in 2005.

Furthermore, Advent International has closed its sixth global buyout fund GPE VI on its hard cap of EUR6.6bn. Touted as the largest mid-market buyout fund ever raised, it is the ninth-largest buyout fund globally and Advent's largest ever. GPE VI exceeded its original EUR5bn target by more than 30%, and was oversubscribed, with LPs wanting to invest more than EUR10bn. A total 160 investors invested in GPE VI, with two-thirds of the capital raised from returning investors. The fund follows the strategy of its predecessor, GPE V, which was closed in 2005 on EUR2.5bn, to invest in the mid-market and upper mid-market segments.

Lastly, April saw its first fundraising in Benelux. Residex has launched its third vehicle, Health Capital II. It has just started fundraising with a target set between EUR45-60m, entailing a EUR15m participation by the Dutch insurer Achmea. The fund will target companies in the healthcare sector that already generate turnover, with a potential of approximately EUR20m. (Page 07).

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