Fund Friday: Top fundraising news in private equity

Blackstone completed fundraising for its energy-focused private equity fund, Blackstone Energy Transition Partners IV, closing at its $5.6bn hard cap.

The fund is 33% larger than its predecessor, reflecting strong investor demand for energy transition investments.
David Foley, Global Head of Blackstone Energy Transition Partners, highlighted the investment potential in energy transition, citing growing demand for electricity, grid reliability, and energy efficiency.

Read more here.

Brookfield Asset Management is targeting at least $7bn for its fourth infrastructure debt fund, expanding one of the largest strategies in the sector.

The new fund will invest in both junior and senior infrastructure debt, continuing Brookfield’s established approach.

The firm’s previous infrastructure debt fund, which closed in November 2023 with more than $6bn in investor commitments, is now largely deployed, with a significant portion allocated to data and renewable energy assets.

Read more here.

Neuberger Berman successfully closed its NB Real Estate Secondary Opportunities Fund II LP (RESOF II) at $1.05bn, surpassing its $800m target.

The fund focuses on real estate secondaries, acquiring stakes in mature funds, providing liquidity to limited partners, and recapitalising existing assets.

The investor base includes corporate and public pension funds, endowments, foundations, insurance companies, family offices, and high-net-worth individuals from North America, Europe, and Asia. Employee and limited partner commitments also contributed to the fund’s oversubscribed close.

Read more here.

Thoma Bravo, a leading global software investment firm, closed its first Europe-focused fund at approximately €1.8bn (around $2bn) in capital commitments.

The fund targets innovative middle-market software companies across Europe.

The firm will support founders, entrepreneurs, and management teams to scale their businesses into industry leaders. Orlando Bravo, Founder and Managing Partner, said, “Our first dedicated pool of capital for European software marks a significant milestone for our firm.”

Northern Trust strengthened its long-standing partnership with Alchemy Partners, providing expanded asset servicing solutions for the newly launched Alchemy Special Opportunities Fund V (ASOF V).

The fund, which exceeded its target, raised €1bn ($1.03bn) in total commitments.

Northern Trust will deliver fund administration, depositary, banking, custody, and credit services from its Guernsey office, continuing a relationship that dates back to 1997. Since 2006, Northern Trust has supported Alchemy’s Special Opportunities funds, reinforcing its role in Alchemy’s alternative investment strategies.