FundWatch Briefing - Nov. 21st, 2025

INFRASTRUCTURE

DigitalBridge raised $11.7bn alongside co-investment capital for its flagship fund focused on hyperscale data centers and AI infrastructure. The San Francisco-based manager attracted strong reups from existing LPs, reflecting deep institutional confidence in the firm's digital infrastructure thesis. AltAssets has more here.

Kayne Anderson raised $2.5bn for Fund VII, its seventh flagship opportunistic fund targeting a net IRR of 15–18%, and is on track to exceed its $3bn hard cap. The Los Angeles-based firm targets energy infrastructure and opportunistic energy transition investments. PE News has more here.

PRIVATE EQUITY

Sterling closed its fifth fund at $1.6bn, targeting mid-market companies within business services and distribution. The PE firm maintains disciplined sector focus and strong investor alignment across core verticals. Buyouts Insider has more here.

BVP Forge, the Bessemer Venture Partners–linked growth buyout platform, raised $1bn for its second fund dedicated to growth buyouts and minority investments in software and tech-enabled services. New York-based BVP Forge attracted existing and new LP commitments for the vehicle. AltAssets has more here.

Goldenpeak Capital, the UK and Ireland–focused PE platform founded by former Inflexion partner Mark Williams and ex-Houlihan Lokey banker Leon Gillespie, closed Fund I at £375m ($475m) in a four-month raise. The new entrant to buyout investing attracted strong demand from institutional LP base. AltAssets has more here.

Kester Capital closed Fund IV at its hard cap of £425m ($540m) in a four-month oversubscribed raise. The London-based growth equity firm focuses on Technology and Life Sciences, with a track record of 4x+ exits. The fund represents significant growth from Fund III, which closed at £200m. Private Equity Wire has more here.

O2 Investment Partners is raising its fifth fund with a $550m target, expected to hold a first close before year-end following a September launch. Buyouts Insider has more here.

CREDIT FUNDS

Monomoy Capital Partners held the final close of its third credit-focused fund, Monomoy Credit Opportunities Fund III LP, at $500m+ in capital commitments, exceeding its target in just ten months. The New York-based credit specialist invests in senior secured debt across middle-market industrial, consumer, and business services companies. MCOF III is $200m larger than its predecessor and attracted support from hospital systems, university endowments, asset managers, pension plans, foundations, and family offices. PE Professional has more here.

Ascertis Credit secured $520m at the first close of its Asia-focused private credit fund, targeting $1bn final close. The fund provides private credit to growth-stage businesses in India and Singapore–Southeast Asia, focusing on acquisitions, dividend recapitalizations, and promoter funding. Strong institutional, family office, and HNWI interest reflects the broader boom in Asian private credit. Private Equity Wire has more here.

REAL ESTATE

Arrow Global surpassed its €1bn target for its debut real estate lending fund, reaching a €1.5bn final close. The European asset manager's first foray into real estate lending attracted strong institutional demand for the strategy. AltAssets has more here.

SECONDARIES

Cubera, the Nordic fund of funds and secondaries specialist, raised €500m across a pair of new funds. The Oslo-based manager targets European mid-market secondaries and fund of funds strategies, extending its track record in secondary investing. AltAssets has more here.

VENTURE CAPITAL

Meron Capital, the Israel-based seed and pre-seed specialist, sealed its third fund at $70m, targeting AI, cybersecurity, fintech, digital health, climate tech, and robotics startups. The Tel Aviv-based investor maintains early-stage focus with broad exposure to emerging technology trends. AltAssets has more here.

Emend Vision Fund and Manitoba First Fund deployed $10m for local startups, with $5m from the provincially-backed Manitoba First Fund. The Vancouver-based investors target Manitoba's emerging technology ecosystem. Winnipeg Free Press has more here.