AltAssets Private Equity News

Clean Growth Fund has reached an £81.5m second close for its second climate technology fund, including a sizeable commitment from the £120bn UK local government pension pool Border to Coast.

Bridgepoint Credit has transferred about €1.2bn of commitments from its 2017-vintage Direct Lending II fund into a Pantheon-led continuation vehicle.

Gainline Capital Partners has moved six-year portfolio company Core Health & Fitness into a single-asset continuation fund led by StepStone Group, giving existing LPs a liquidity option while raising fresh capital to support the commercial fitness equipment maker's expansion.

The British Business Bank has launched a £210m investment fund targeting SMEs across South East England, with Maven Capital Partners taking responsibility for its equity strategy and FSE Group managing the debt allocation.

CVC Capital Partners has hired TPG president Todd Sisitsky to become co-chief executive alongside current CVC president Peter Rutland, in a major leadership transition at the €212bn private markets manager.

TrueBridge Capital Partners has more than doubled the size of its dedicated venture secondaries strategy after closing its second fund on $508m, two years after raising $230m for its predecessor.

Cinven has closed its second Strategic Fund on about €2.3bn, beating its target by roughly 50% after expanding the European mid-market strategy beyond the financial services focus of its predecessor.

Mistral has raised €3bn in a Series D round valuing the French AI company at more than €21bn, in what it says is the largest-ever equity fundraising by a European technology company.

Tasman Capital Partners expects its fourth private equity fund to be substantially deployed by the time it reaches a planned final close in March next year, having already put its first two platform investments in place after securing about 60% of its A$200m target.

Private equity firm Astorg says software businesses in its portfolio are already seeing teams operate at roughly three times their previous productivity - with improvements of up to 10x in specific development cycle times - but argues the bigger opportunity from AI will require companies to redesign how they operate.