Fund Friday: Top fundraising news in private equity

Eurazeo has secured €480m, or roughly $567m, for a private credit continuation fund backed by Pantheon.

The fund will roll assets from previous Eurazeo private credit vintages into a new vehicle, allowing existing investors to cash out while providing Eurazeo with fresh lending capacity to support additional European mid-market transactions. Pantheon, one of the largest global secondaries investors, is participating in the fund.

A Hong Kong billionaire-linked family office is backing a new $100m artificial intelligence venture fund focused on the infrastructure underpinning AI growth, Bloomberg reported.

3C AGI Partners, founded by former SenseTime executive Esther Wong, is targeting up to $100m for the fund by March, following a $50m first close. The vehicle is supported by VMS Group, a family office that manages more than $4bn for some of Hong Kong’s wealthiest families.

Otro Capital has raised $1.2bn for its first buyout fund, underscoring surging institutional appetite for sports-focused private equity strategies.

The firm, founded by former RedBird Capital Partners executives, exceeded its initial $500m target as pension funds, endowments, and family offices increased exposure to sports franchises and related assets. California Public Employees’ Retirement System committed $50m to the fund, according to its website.