New
Funds
Ares Raises More Than $7 Billion for Inaugural Credit Secondaries Fund
Ares Management has raised approximately $7.1 billion for its Credit Secondaries strategy, including the final closing of its inaugural Ares Credit Secondaries Fund and affiliated vehicles. The fund attracted about $4 billion in limited partner equity commitments, doubling its original target and marking Ares’ largest inaugural institutional fundraise. Launched to acquire senior secured, private equity-backed private credit portfolios, the fund allocates capital across LP-led transactions and continuation vehicles. Dave Schwartz leads the strategy with Blair Jacobson…
Monroe Banks $6.1 Billion for Fund V
Monroe Capital has closed its 2025 Monroe Capital Private Credit Fund V with $6.1 billion of total investable capital. The close follows the firm’s prior institutional vehicle, Fund IV, which raised $4.8 billion of investable capital in 2022. Monroe Capital provides senior secured loans, unitranche financings, and mezzanine capital that customers use to fund acquisitions, refinancings, and growth. The firm serves private equity–sponsored and independent lower middle-market companies. Monroe Capital was founded in 2004 by…
Highland Rim Closes $208 Million Debut Fund Above Target
Nashville firm exceeds initial target in inaugural close
Highland Rim Capital has closed its debut private equity fund at $208 million, surpassing its initial target and marking a milestone for the lower middle market firm. Limited partners in the new fund include asset managers, pensions, foundations, family offices, insurance companies, and endowments. Highland Rim makes control investments in companies with revenue between $10 million and $100 million and EBITDA ranging from $2.5 million to $10 million. The firm invests on a nationwide basis,…
Heartwood Closes Continuation Vehicle for Amlon
The new fund was oversubscribed and closed with $245 million of capital
Heartwood Partners has closed a continuation fund for The Amlon Group, a provider of hazardous waste management and environmental services, with approximately $245 million in capital commitments. The transaction was led by Apogem Capital. New investors in the vehicle include New 2ND Capital, Reinsurance Group of America (RGA), Mercer Investments, Round2 Investment Partners, and Flexstone Partners. Proceeds from the transaction will be used to support future add-on acquisitions and greenfield expansion projects for Amlon. Amlon…
Peninsula Closes Fund, Invests in Marcus Thomas
Peninsula's eighth fund closed with $400 million in capital in September 2025
Peninsula Capital Partners has made an investment in Marcus Thomas, a marketing communications agency. Peninsula’s investment in Marcus Thomas was structured as a combination of subordinated debt and common equity with capital from the firm’s newest fund, Peninsula Fund VIII LP (Fund VIII), which closed with $400 million in capital in September 2025. Marcus Thomas is a full-service advertising and digital marketing agency that provides creative development, media planning, public relations, and marketing automation services….
Northstar Closes $530 Million Across Parallel Funds
The Minneapolis-based firm provides mezzanine debt and equity co-investments to sponsored companies with at least $3 million of EBITDA
Northstar Capital has held a final close of Northstar Mezzanine Partners VIII LP and Northstar Mezzanine Partners SBIC II LP with a combined $530 million of capital. This fundraise follows the prior parallel fundraise that closed in January 2021 with $500 million in combined commitments. Northstar is an active provider of mezzanine debt and equity co-investments to sponsored lower middle market companies with at least $3 million of EBITDA. Sectors of interest include healthcare, industrials,…
Monogram Hard Caps $350 Million Third Fund
Monogram invests up to $75 million of equity in companies with revenues of $5 million to $250 million
Monogram Capital Partners has held an oversubscribed and hard cap close of its third fund, Monogram Capital Partners Fund III LP, with $350 million of capital. Limited partners in Fund III include endowments, foundations, family offices, and funds of funds, with many long-time investors participating in the new fund. Beverly Hills-headquartered Monogram invests up to $75 million of equity in companies with revenues of $5 million to $250 million. Sectors of interest include food and…
Mosaic Closes Second ESOP-Focused Fund
The Charlotte-based firm closes its second fund with $205 million in total capital, including leverage
Mosaic Capital Partners has closed its second fund with $205 million in total capital, including leverage. Similar to its first fund, Fund II is structured as a Small Business Investment Company (SBIC) with limited partners that include institutions, commercial banks, and high-net-worth individuals. Mosaic invests from $10 million to $25 million—more with limited-partner co-investment—in North America-based employee-owned businesses with $10 million to $100 million in revenue and $5 million to $15 million in EBITDA. Sectors…
Monomoy Beats Target on Third Credit Fund
The New York City-based firm closed its prior credit fund in September 2023 with $300 million of capital
Monomoy Capital Partners has held a final close of its third credit-focused fund, Monomoy Credit Opportunities Fund III LP (MCOF III), with more than $500 million in total capital commitments. Limited partners in the new fund include hospital systems, university endowments, asset managers, public pension plans, foundations, and family offices. MCOF III was raised over ten months and is $200 million higher than its predecessor fund, which closed in September 2023 with $300 million of…
Insignia Hard Caps Fund III
Insignia’s second fund closed in 2021 with $400 million in capital
Insignia Capital Group has closed its third fund, Insignia Capital Partners III LP, with over $500 million in capital commitments. The new fund surpassed its $375 million target and closed at its hard cap. Limited partners in Fund III include both returning limited partners and a select group of new investors. Insignia’s second fund closed in 2021 with $400 million in capital, and its inaugural fund closed in 2016 with $358 million in capital. “Achieving…
Integrum Soars to Close on Fund II
Integrum Holdings has completed the final close of its second flagship vehicle, Integrum Capital Partners II LP, with total capital commitments of $2.5 billion. The new fund closed above its original target and its hard cap. Integrum invests in service-oriented businesses in financial, fintech, insurance and business services sectors. The close of Fund II brings the firm’s assets under management to about $5 billion. Integrum’s first fund, Integrum Capital Partners LP, closed with $1.1 billion in May…
Abacus Holds Final Close for Inaugural SBIC Fund
Abacus Finance Group has held a final and oversubscribed close of its first Small Business Investment Company vehicle, Abacus Finance SBIC Fund I LP (Fund I), with $262.5 million in capital. Abacus secured $87.5 million in private commitments and leveraged the U.S. Small Business Administration’s SBIC program to reach its hard-cap target. The fund’s private commitments came from both institutional and high-net-worth investors such as banks, endowments, family offices, and insurance companies. Fund I is…
Diversis Hard Caps Third Fund at $1.2 Billion
Diversis Capital has held an above-target and hard-cap close of its third fund, Diversis Capital Partners III LP, with more than $1.2 billion in total commitments. Fund III limited partners include endowments, foundations, pension plans, family offices, investment advisers, and financial institutions. Diversis Capital’s earlier fund, Diversis Capital Partners II LP, closed in September 2021 with an oversubscribed and above-target $680 million of capital. The firm’s first fund closed in 2019 with $255 million of…
Plexus Reloads with $1.3 Billion in New Capital
Plexus Capital has held an above-target close of over $1.3 billion across two investment vehicles—Plexus Fund VII LP (Fund VII) and Plexus Equity Fund II LP (Equity Fund II). Fund VII targets investments combining debt and equity, typically investing $5 million to $25 million in businesses with $10 million to $100 million in revenue and $2 million to $15 million in EBITDA. The fund partners with independent sponsors, search funds, private equity firms, and management…
Gemspring Quickly Closes Second Growth Fund
Gemspring Capital Management has closed its second non-control investment vehicle, Gemspring Growth Solutions Fund II LP (GGS II), with $1.1 billion in limited partner commitments. The new fund closed at its hard cap in its first and final close after only three months in the market. GGS II follows Gemspring Growth Solutions I LP, which closed in January 2023 with an oversubscribed $400 million of capital. Limited partners in the new fund include both US…
Crux Closes Inaugural Fund at $340 Million
Crux Capital, a Dallas-based private equity firm targeting the lower-middle market, has closed its debut institutional fund, Crux Capital Fund I LP (Fund I), with over $340 million in commitments. Fund I closed above its hard cap following a nine-month fundraising cycle. Limited partners in Fund I include university endowments, charitable foundations, family offices, funds of funds, and industry executives. Crux Capital makes majority or significant minority investments in consumer and commercial services companies with…
Other Recent Funds
