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Fund Friday: Top fundraising news in private equity

Private Equity Insights

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. Read more here.

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Blackstone, KKR, CVC curbed by China’s IPO clampdown

Private Equity Wire

The difficulties in exiting investments have made some institutional investors, including pension funds, more cautious about allocating capital to the region. A senior executive at a leading investment firm predicted a dearth of exits from China for at least the next few years, further complicating the investment landscape.

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BlackRock expands private equity focus with new financing initiative

Private Equity Insights

The firm is looking to extend its role beyond investing client capital to managing funds for private equity and alternative asset managers, according to Chief Financial Officer Martin Small. The firms acquisition of private-credit giant HPS Investment Partners, which manages nearly $150bn in assets, is set to close this year.

Financing 162
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LVMH-Backed L Catterton Weighs Selling Stake in Saudi Arabia’s Bateel

Private Equity Insights

L Catterton, the private equity firm backed by luxury French fashion house LVMH, is looking to sell its stake in Saudi Arabian gourmet food producer and restaurant chain Bateel, according to people familiar with the matter. Read more BlackRock Unveils Climate Policies for $150bn in Funds BlackRock Inc.

Stakes 130
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Orion sells further minority stake in Sweetwater Royalties at $1.9bn valuation

Private Equity Insights

Orion Resource Partners, a global investment firm specialising in metals and materials, has sold an 8% minority interest in Sweetwater Royalties, a private industrial minerals royalty company, to a Canadian pension fund for $100m.

Stakes 130
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Orion sells further minority stake in Sweetwater Royalties at $1.9bn valuation

Private Equity Wire

Orion Resource Partners, a global investment firm specialising in metals and materials, has sold an 8% minority interest in Sweetwater Royalties, a private industrial minerals royalty company, to a Canadian pension fund for $100m.

Stakes 97
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Thoma Bravo agrees $1.5bn Everbridge take-private deal

Private Equity Insights

Everbridge, a specialist in critical event management and national public warning solutions, has entered into a definitive agreement to be acquired by software investment firm Thoma Bravo, in an all-cash take private transaction that values the business at approximately $1.5bn. billion) for a credit fund for Australia and.