The New Playbook for Emerging Managers
The latest Buyouts Insider podcast breaks down what limited partners (LPs) now demand from emerging managers, highlighting the shift toward proven track records, fee transparency, and strategic alignment. It also outlines frequent missteps made by first‑time funds, such as under‑estimating capital deployment timelines and over‑promising on returns. Experts share practical tactics for newcomers to differentiate themselves, including ESG integration, operational expertise, and early network building. Listeners walk away with a clear playbook for securing LP commitments in a competitive fundraising environment.
26North Partners Tops Target by Almost 50% in Fund I
26North Partners’ inaugural Fund I has closed at nearly 50% above its original fundraising target, according to PEI Group data. The fund, launched in late 2023, saw its capital commitments almost double after the second close in early 2025. This...
‘Fundamental Shift’ in Continuation Vehicle Market – Orchard Co-Founder
Orchard co‑founder Scott Pasquini says the continuation‑vehicle market could expand up to four times its current size. He argues that general partners are increasingly seeking ways to sidestep the rigid timelines of traditional closed‑end funds. Continuation vehicles let GPs hold...
Stellex Closes on Largest Fund yet After a Long Fundraise
Stellex, a mid‑market buyout firm, closed its latest fund at $2.37 billion, slightly below the original target. The capital raise concluded after more than two years of intensive marketing to investors. This represents Stellex’s largest fund to date, expanding its capacity...
DOWNLOAD: Private Equity Fundraising Gets a Boost in Q1, Despite Fewer Fund Closings
Private equity fundraising in Q1 2024 reached $152 bn, a 14% increase over the same period last year, according to PEI Group data. The rise spanned buyouts, growth equity, secondaries, and venture‑capital funds. Despite the higher capital inflow, the number of...
Former Blackstone Duo Closes Inaugural Fund at $400m
Former Blackstone partners Isaac Harrouche and Mike Berlin have launched 154 Partners, a new private equity firm, in January 2025. Their inaugural fund closed at $400 million, marking a strong start for the boutique. The duo brings extensive experience from Blackstone’s...
Healthcare-Focused PE Firm Linden Mulls Secondaries Strategy
Chicago-based private equity firm Linden, known for its healthcare investments, is weighing a move into the secondary market. The firm joins a wave of buyout houses adding secondary strategies to diversify capital and enhance liquidity. By targeting secondary transactions, Linden...
Emerging Managers Face Punch-Drunk LPs
US emerging private‑equity managers are enjoying a surge in fundraising, yet limited partners (LPs) remain wary. The Buyouts Emerging Managers Survey 2026 reveals that despite strong capital inflows, LPs are reluctant to commit to newer funds. Concerns center on limited...
Blackstone Life Sciences Fund VI Blows Past Fundraise Target
Blackstone’s Life Sciences Fund VI has closed its fundraising round well above the original target, securing roughly $1.5 billion from limited partners. The fund’s platform claims a regulatory approval rate that is almost twice the industry average, a metric highlighted by...
Family Offices Outline Concerns over Rise of Zombie Funds
Family offices are increasingly vocal about the growing problem of “zombie” private‑equity funds that linger beyond their investment period. Stonehage Fleming and GreenBear Group have called for aging funds to be wound down promptly to avoid valuation disputes and investor...
Download the April 2026 Issue of Buyouts
The April 2026 issue of Buyouts spotlights ten women reshaping private‑equity leadership, recaps highlights from PEI’s third annual NEXUS conference, and examines why the industry’s exit pipeline is becoming increasingly difficult to navigate. The publication blends profile pieces, conference insights, and...
Marcie Frost, CalPERS: Women in Private Equity 2026
Marcie Frost, who rose from teenage mother and typist to CEO of CalPERS, is featured in the 2026 Women in Private Equity series. Her story underscores how non‑traditional career paths can lead to leadership in the world’s largest public pension...
Levine Leichtman Rolls Out Latest Small-Cap Fund, Targets $1.7bn
Levine Leichtman Capital Partners has introduced a new small‑cap private‑equity fund aiming to raise $1.7 billion. The vehicle will target companies with enterprise values below $500 million, leveraging the firm’s sourcing network and operational expertise. Large institutional investors, especially U.S. public pension...
Building the Right Team Is Key for Emerging Managers
Emerging private equity managers are increasingly recognizing that talent is the cornerstone of successful fundraising and future deal execution. Building a cohesive team with complementary skill sets, industry expertise, and cultural alignment can differentiate a nascent firm in a crowded...
GPs Are Setting the Table Stakes
General partners (GPs) launching new private‑equity funds are re‑examining their term sheets to strike a balance between luring limited‑partner capital and preserving the fund’s economic upside. Tightening economics—such as higher GP‑catch‑up or lower carried interest—helps protect returns but can make...
