Asset & Wealth Management

The Avendus Future Leaders Fund III is seeking to raise about $300 million for its private equity unit, with plans to write larger checks more frequently. The firm's third private equity fund aims to target growth-stage startups, as evidenced by its previous work with companies like Zepto, Lenskart, Xpressbees, CaratLane, and Atomberg. This represents a shift from its earlier fund sizes, with its second fund totaling around $185 million and its maiden fund at $50 million in size. Target sectors include information technology, insurance, food product, apparel, accessory, asset management and fintech sectors. The fund is designed to create value for its investors by investing opportunistically in ‘best of breed’ late stage private companies. The fund pursues a unique and differentiated strategy by focusing primarily on opportunistic situations for investment. The Fund is indifferent between primary and secondary investments and offers a quick turnaround to companies/ entrepreneurs. Investment Size: USD 10-30 million per transaction, minority stake.

The EV II fund is a 70m€ Venture Capital fund that invests in innovative companies in Series A & B stage. The fund has a focus on Fintech and Beyond Banking sectors, including financial technology, RegTech, cybersecurity, mobility, energy, agriculture, and more. The fund targets investments in Central and Eastern Europe, which is an emerging startup ecosystem with amazing talent and founders but lacks the attention and funding resources of more mature regions. The fund has a commitment from RBI, Raiffeisen-Holding Niederösterreich-Wien, and Raiffeisen-Landesbank Steiermark, and has previously invested in a portfolio of 15 companies, including investment banking, e-signature & identification, and RegTech companies, among others. The main goal of Elevator Ventures is to earn a financial return for its investors. In addition, they want to contribute to the strategy of the banks and engage with high-growth companies whose business models might be changing the industry dynamics in the mid- to long term. The fund also cooperates with international co-investors and has decided to invest in a Fund of Funds and other VC funds alongside Raiffeisen-Landesbank Steiermark, and Raiffeisenlandesbank Oberösterreich. The fund also believes in the transformative power of technological shifts that enable high-growth companies to drive customer value and reshape industries. They are driven by a sector focus that encompasses not only Fintech but also Beyond Banking, which includes platform-based business approaches in various service areas. Elevator Ventures also plans to continue to promote innovation in the region with the backing of its LP base.

Preservation Capital Partners has successfully closed PCP Fund II, a private equity buyout fund. The firm secured €459 million in capital commitments, marking a 30% increase from its predecessor fund, PCP Fund I. Preservation Capital Partners (PCP) invests in financial technology and services companies across Europe. It has a flexible investment mandate and can invest as both a minority and majority investor, with a typical equity investment of £50-150m with the ability to invest significantly larger amounts through co-investment. Business subsectors include non-balance sheet businesses including insurance distribution, insurance services, asset and wealth management, outsourcing service providers to financial institutions, payments and consumer finance. Preservation Capital Partners has achieved significant milestones, including the closing of PCP's inaugural continuation vehicle and raising substantial co-investments from existing limited partners (LPs). With the closing of PCP Fund II, Preservation Capital Partners now manages approximately €1 billion in assets under management (AuM) across its three active funds, solidifying its position as a leading player in the Financial Services sector. The fund is dedicated to consistently delivering top quartile returns, regardless of market conditions, and is confident in its ability to navigate future opportunities, create value, and drive sustainable growth. Kirkland & Ellis advised Preservation Capital Partners on raising the fund.

Pacenote Equity Fund I is a buyout fund managed by Pacenote Capital, a firm established in 2019. The fund is focused on investing alongside independent sponsors and emerging private equity managers, primarily targeting the smaller side of the mid-market. Pacenote Equity Fund I successfully closed its debut fund at $87.5 million (April 2024), surpassing its initial $50 million target and going slightly over its $75 million cap with the permission of its limited partners (LPs). The capital was sourced from a mix of endowments, foundations, family offices, and personal commitments from both LP and GP executives​ (Buyouts)​​ (Private Equity International)​. The fund's strategy involves making equity investments of $5 million to $10 million in approximately eight to ten companies, with the potential to source additional co-investment capital from its LPs for larger deals​ (Buyouts)​. The firm operates out of Austin, Texas, and has additional offices and key personnel in New York and Charlotte​.

Pollen Street Capital V is the fifth flagship private equity vehicle launched by Pollen Street Capital, a London-based alternative asset manager focused on investing in financial and business services. The fund was launched in 2023 and held its first close at €1 billion. It eventually surpassed this target, with a total of €2 billion in capital. That includes €1.5 billion in fund commitments and another €500 million in co-investment capacity —. PSC V aims to acquire control positions in lower middle-market companies that are fast-growing and technology-enabled. The fund prioritizes firms within the lending, payments, wealth management, insurance, and broader tech-enabled business services sectors. Its investment approach is centered on driving growth and creating market leaders through hands-on value creation strategies. The fund plans to make equity investments ranging from £40 million to £100 million in 12 to 14 companies during its investment period. It targets businesses with enterprise values of up to £200 million and is designed to generate a gross return of 3.0x invested capital at the fund level.

Trident X is the flagship tenth buyout vehicle from Stone Point Capital, based in Greenwich, CT. Managing $11.5 billion in commitments—surpassing its original $9 billion target—it marks the largest raise in Stone Point’s flagship Trident series. The fund maintains Stone Point’s disciplined thematic focus on the financial services sector, encompassing banks, insurance, wealth management, specialty finance, fintech and related areas. It seeks control‑oriented investments in mid‑market to upper mid‑market firms across the U.S., leveraging the firm’s deep industry expertise and proprietary sourcing channels. Trident X benefits from strong institutional support—state and public pension systems (e.g., WSIB, Arizona PSPRS, TRS Illinois) and major life insurers among its LPs—which underscores the confidence in the strategy and performance track record of prior vintages.