Fund Friday: Top fundraising news in private equity

Five Arrows, the alternative assets arm of Rothschild & Co, has closed Five Arrows Debt Partners IV (FADP IV) at €2.4bn, exceeding its €2bn target and marking a more than 70% increase on its €1.4bn predecessor fund.

The fund provides flexible financing solutions to mid-market companies in Europe and North America, offering instruments across the capital structure including unitranche, second lien, mezzanine, PIK facilities, and preferred equity. It supports both private equity-backed businesses and family or entrepreneur-owned companies.

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Nordic Capital has raised €5bn for its twelfth flagship buyout fund, reaching half of its €10bn target as the firm prepares for a first close in early October, according to a report by Bloomberg.

The private equity manager, which launched fundraising for Nordic Capital XII just five months ago, is aiming for a final close in 2026, according to people familiar with the process.

The effort comes as private equity firms contend with a challenging fundraising environment, where muted deal activity has slowed capital distributions and weighed on commitments.