After many years of dismal fundraising activity, the private equity industry is finally feeling the love from limited partners. Sure, it’s true that some firms that raised funds in the 2006, 2007 and 2008 timeframe are dying a slow death, but the firms that produced returns during the past couple of years are able to raise new, bigger funds. In fact, two of the three private equity firms that won Mergers & Acquisitions’ M&A Mid-Market Awards this year have recently raised their largest funds ever.
GTCR, Mergers & Acquisitions’ Private Equity Firm of the Year winner, raised GTCR FUND XI, closing on $3.85 billion of equity, while the Riverside Company closed on $1.5 billion for Riverside Appreciation Fund VI. The firm’s co-CEOs have been named Merger & Acquisitions’ Dealmakers of the Year.