Sector Agnostic

p>360 ONE Asset, the investment arm of 360 ONE WAM, has introduced a ₹500 crore (approximately $60 million) sector-agnostic venture capital fund aimed at supporting Indian startups from seed to Series A stages. This initiative is part of the firm's strategy to provide early financial backing to promising startups, bridging the gap between India's micro-VC ecosystem and larger global funds. The fund is designed to invest in bold founders building category-defining businesses across emerging sectors such as consumer technology, fintech infrastructure, generative AI, and frontier technologies including spacetech, defence, and precision manufacturing. 360 ONE Asset emphasizes a long-term partnership approach, offering patient capital and active co-investment opportunities for strategic partners. With an overall alternates and public markets AUM of nearly $10 billion, and a venture capital and private equity platform managing over $3 billion, 360 ONE Asset leverages its substantial resources to support startups throughout their growth journey. The firm remains focused on long-term macro trends like domestic consumption, financial infrastructure, healthcare, AI-led services, and deep tech innovation.

Apollo Accord+ Fund II is a $4.8 billion credit-focused vehicle and the latest iteration of Apollo’s hybrid Accord+ strategy. The fund is part of a broader $40 billion platform designed to seize value across market dislocations and capital structure inefficiencies. Accord+ Fund II targets opportunistic investments across private corporate credit, asset-backed finance, and secondary credit markets. The strategy emphasizes high-quality, senior-positioned credit exposures with strong downside protection. Leveraging Apollo’s global platform, the fund deploys capital flexibly and swiftly, with a focus on North America while retaining capacity for global opportunities driven by volatility or structural change.

Apera Private Debt Fund III is a €2.9 billion private debt fund launched by Apera Asset Management, a London-based firm specializing in providing private capital solutions to lower mid-market companies in Western Europe. The fund focuses on senior secured unitranche financings, offering bespoke financing solutions to businesses with robust management teams and strong market positions. The fund's strategy targets investments ranging from €15 million to €100 million, emphasizing downside resilience and attractive long-term growth prospects. Apera's approach involves deep local relationships across its network of offices in Munich, London, Paris, and Luxembourg, enabling it to identify and support promising companies in the DACH region, the UK, Nordics, France, and Benelux. Apera Private Debt Fund III attracted a diverse group of institutional investors, including pension funds, insurers, sovereign wealth funds, and endowments from Northern Europe, Asia, and North America. The successful fundraising, which surpassed the fund's original hard cap, reflects the strength of Apera's investment platform and its track record in delivering private credit across its core European markets.

The Blue Torch Credit Opportunities Fund III focuses on providing bespoke credit solutions to middle market companies across a broad array of industries, including those who require capital support for growth, acquisitions, operational challenges, and financial hurdles. This means that the fund targets a wide range of sectors for its investments, with a focus on providing flexible and customized financing solutions to companies in need of capital. Blue Torch's target geography for its investments is the United States and Canada. Blue Torch Capital invests between $20 and $200 million in companies with minimum revenue of $50 million. The financial target for the Blue Torch Credit Opportunities Fund III was to reach $2.0 billion in total investor commitments. However, the fund exceeded this target, closing at $2.3 billion in total investor commitments.

The Commonfund Capital Secondary Partners IV, L.P. fund significantly exceeded its $750 million target and closed on over $1.2 billion, with $110 million raised for an overflow fund to co-invest alongside the flagship. The fund attracted strong support from existing and new investors in the U.S. and Europe, including family offices, insurance companies, pensions, RIAs, private wealth platforms, healthcare companies, endowments, and foundations. The fund is managed by CF Private Equity. The fund operates in the global secondaries market, focusing on smaller transaction sizes. Their dedicated secondaries team has completed 370+ transactions across 800+ underlying fund interests managed by over 400 managers, providing liquidity solutions for investors in both LP liquidity and GP-led liquidity. The fund has approximately $3.0 billion in AUM as of the final close of Commonfund Capital Secondary Partners IV, LP.

Grafine Partners has closed its inaugural strategy, Grafine Capital I, with approximately $600 million in total capital commitments. This strategy exceeded its target of $500 million. Grafine Capital I is a fund of fund focusing on providing anchor LP capital and institutional-level support to first-time funds launched by experienced private markets investors. As of march 2024, the fund has already deployed a significant portion of capital in three first-time managers and associated direct investments in sectors such as real estate, healthcare, technology, resource efficiency, and consumer businesses. -Ascendant Capital Partners, a vertically integrated opportunistic real estate investment and operating firm focused on hotel and residential investments. -Stanley Capital Partners, a European-focused mid-market private equity firm focused on healthcare, technology & resource efficiency. - The Newcastle Network, an investment platform providing growth capital to lower middle market performing consumer businesses. Through a pioneering investment approach, Grafine's first strategy provides anchor LP capital and institutional-level support to first-time funds launched by experienced private markets investors, in exchange for revenue sharing and access to co-investment opportunities for its LPs.

ICG's debut LP Secondaries fund, ICG LP Secondaries I (LPS I), focuses on acquiring buyout fund interests from limited partners. The fund has reached its hard cap of $1bn after being significantly oversubscribed, with total commitments amounting to $1.6bn, including co-investment special purpose vehicles and separately managed accounts. LP Secondaries invests globally, providing liquidity solutions to investors in third party private equity funds. The team, led by Oliver Gardey, Ryan Levitt, and Vivien Blossier, is comprised of specialized LP secondaries investors based in London and New York. As a pure LP secondaries strategy, the fund offers a specialized approach to the secondaries market, attracting clients who share in ICG's conviction. The success of the fundraise demonstrates the appetite for a specialized strategy within the secondaries market. With 7 LP stakes transactions already closed and over $1.5bn of assets acquired, as of April 2024, the fund aims to further build on its reputation as an LP-led secondaries specialist investor. This differentiated approach is expected to create value for clients and serve them well.

INVL Private Equity Fund II is the second‑generation private equity vehicle of the Invalda INVL Group, designed to be the largest PE fund in the Baltics. Having raised €410 million at final close, it exceeded both its initial €250 million target and its €400 million hard cap. The fund focuses on investing in medium‑sized, late‑stage growth companies in the Baltic states, Poland, Romania and other European Union markets. It seeks controlling or significant minority stakes and plays an active value creation role to help portfolio companies scale, acquire, transform, or expand. Typical equity investment tickets range from €10 million to €60 million, with flexibility to structure smaller investments initially if there is a clear path to growth and follow‑on injections. The fund also can co‑invest in larger deals in partnership with other investors. INVL Private Equity Fund II aims for a diversified portfolio of about 10–12 platform companies. It combines buyout and buy‑and‑build strategies, backing firms with strong fundamentals, competitive positions, and resilience amid macro volatility. The team aligns interests with management, taking a “hands‑on” approach to governance, operational improvements, and strategic growth.

InCred Special Opportunities Fund-I (ISOF-I) is the inaugural special situations credit fund launched by InCred Alternative Investments, a subsidiary of InCred Capital Financial Services. Structured as a Category II Alternative Investment Fund (AIF), ISOF-I has a base size of $175 million, including a $60 million green shoe option. As of April 2025, the fund has secured over $70 million in commitments from a mix of domestic and international investors. The fund is designed to deliver superior risk-adjusted returns through a market-agnostic strategy, focusing on secured credit investments in India's traditional sectors. ISOF-I aims to capitalize on opportunities arising from dislocated secondary markets, cash flow mismatches, and other special situations, ensuring downside protection through strong collateral coverage. Managed by a team with deep expertise in credit and special situation investing, ISOF-I plans to deploy capital across 15–18 investments over a 6.5-year tenure. The fund targets a gross internal rate of return (IRR) of 21–23%, with regular quarterly distributions to investors.

The Mercer Private Investment Partners VII (PIP VII) fund is a fund-of funds focusing on private investments in equity, credit, and real assets, with a total fundraising of nearly $4 billion in limited partner capital commitments. This fund is the seventh vintage in Mercer's PIP series and offers investors flexible access to a wide spectrum of global private markets across various sectors including private equity, private debt, infrastructure, real estate, natural capital, and sustainable opportunities. PIP invests across primaries, co-investments, secondaries, and other specialized offerings to provide a compelling opportunity for investors to align with the best thinking of Mercer's advice and solutions. The fund received significant commitments from new institutional investors, including endowments, foundations, and insurers, with a majority of capital raised from new investors who had not previously committed to prior PIP vintages. The United States was the strongest region for net new LP growth overall, with more new LP capital committed to PIP VII than any other region globally. Mercer's focus on meeting clients where they are across the governance continuum has enabled it to retain strong commitments from existing clients and attract new capital from expanding client segments.

The Pemberton Strategic Credit Fund III is an opportunistic private credit fund managed by Pemberton Asset Management. It is focused on investing in primary performing companies across Europe, deploying €2.3 billion. The Fund targets alpha generation by resolving complexity in performing credits with first lien-focused capital solutions, while maintaining downside protection for investors. It invests in sponsor-led transactions across non-cyclical businesses and aims to deliver highly attractive risk-adjusted returns to its investors. The fund is located in London, United Kingdom and, invests in Western Europe. The Fund's investor base consists of new and returning LPs, including public and private pension funds, insurance providers, and financial service investors across Europe, North America, Asia, and the Middle East. The Fund has seen increasing demand for versatile European direct lending funds from both new and existing investors due to the current cycle of inflation, high interest rates, and retrenching capital markets. Pemberton's family of three direct lending funds has a platform of 9 offices across Europe for originating investments and one of the largest investment teams in the market, providing the company with a distinct advantage in identifying, evaluating, and realizing investment opportunities. The strategy focuses on investments in: - Leading European mid-market companies with EBITDA typically between €15 million and €100 million; - Senior secured loans with first-ranking seniority but can also invest across the capital structure to provide solutions to borrowers. The strategy includes investment opportunities which feature additional complexity that often require bespoke financing solutions and additional deep-dive credit assessment. Opportunities include carve-outs, buy-and-builds, growth capital and recovery capital. The strategy focuses on performing credit rather than stressed/distressed debt and loan-to-own debt investments. Depending on the credit quality of the borrower, the strategy is able to provide subordinated debt to strongly performing companies with non-cyclical cash flows and high equity buffers. The strategy can also generate additional returns through warrants and equity investments as part of the debt investment.

Queka Real Partners has successfully closed its second fund, Queka RP PEF 2, at €194 million, surpassing its initial target of €175 million. The strong demand from investors reflects market confidence in Queka’s strategy of targeting Spanish SMEs with solid growth prospects through strategic and operational transformation. The fund is backed by a diversified base of institutional investors, family offices, and high-net-worth individuals, both domestic and international. The fund’s strategy focuses on acquiring majority stakes in medium-sized Spanish companies across traditional sectors where there is significant room for operational improvement, digitalization, and international expansion. Queka takes an active role in management, supporting leadership teams to scale and enhance long-term value creation. Through Queka RP PEF 2, the firm aims to strengthen its position as a key player in the lower mid-market segment in Spain. The fund plans to make 7 to 8 investments, with average equity tickets ranging between €25 million and €30 million, adopting a highly selective, value-oriented investment approach.

The US$310 fund managed by Tor Investment Management focuses on alternative credit and targets the Asia-Pacific region. It aims to take advantage of the growing popularity of private credit in the region, targeting deals of between $50m and $150m. The fund sees new opportunities in the China property market, particularly in data centers, logistics, and the renewables sector. It is a direct lending fund. Tor Investment Management is an independent alternative credit manager in Asia with over $2 billion under management.Use of the proceeds include: acquisitions, growth, refinancings / recapitalizations, LBOs, rescue financings, DIP and exit financings, venture debt, secondary debt purchases.