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Churchill Asset Management reached a $1.54 billion final close for Junior Capital Opportunities Fund III, beating its $1 billion target and more than doubling the $737 million raised by its predecessor. Around $665 million came through rated feeder structures for insurance investors.
Alternative Credit Investor · also AltAssets, Alternatives Watch, Business Wire, HedgeCo
I Squared Capital closed ISQ Global Infrastructure Credit Fund II with over $2.4bn of commitments, plus $600m committed or expected for co-investment vehicles, for $3bn total against a $1.5bn original target. The fund has committed around 37% of capital across seven investments.
Blackstone Credit & Insurance funds and four Canadian institutional investors agreed to invest $3.1 billion for a 49.9% non-controlling interest in a Mitsubishi subsidiary holding Mitsubishi's 15% stake in LNG Canada. Goldman Sachs was lead structuring agent and financial advisor to Blackstone.
Millennium has withdrawn more than $1.5bn in leveraged capital from Troluce Capital Advisors ($1bn+) and Axebrook Capital ($500m) following losses at both firms. Millennium, a $95bn-plus hedge fund, recorded an 8.1% gain for the year through September.
AE Industrial Partners has closed an $850m single-asset continuation fund for portfolio company Blue Raven, an aerospace and defence distributor. Lexington Partners led the continuation vehicle, which will fund Blue Raven's expansion and development of its SEDNA analytics platform.
Brookfield Asset Management and CPP Investments have completed the all-cash acquisition of LXP Industrial Trust at about $5.2 billion including net debt and preferred equity, with shareholders receiving $61.20 per share. LXP has been delisted from the New York Stock Exchange.
NeoSci Ventures raised S$70 million in the first close of its inaugural institutional venture fund, backed by EDBI and Taiwan's National Development Fund, and plans to invest in up to 12 biotech companies globally.
Capital closed, by asset class · Past 30 days
Largest closes
$122B · 75 closes
The largest closes for this period →
≈ converted to dollars† reports also give a higher figure; the lower is used$122B across 75 closes · 4 more reported without a size
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