Established Managers
A manager with funds behind it raises against its own record. The work is in the successor fund, the re-ups and widening the investor base beyond them.
Global private equity raised to Q3 2026
$368.1bn
Funds closed to Q3 2026
523
Note: PitchBook Q3 2026 Global PE First Look, as cited by Foley & Lardner, October 2, 2026. Capital raised is pacing up 3.1% and the number of funds closed is pacing down 30.5%. Published in Fewer funds are closing, and the largest take a bigger share.
Established managers
A successor fund is prepared during the life of the last one.
Allocators separate realised results from unrealised marks and test fund size against the opportunity, and a larger successor fund is read against both. The record earns the meeting, and the materials carry it from there.
Successor funds and re-ups
We prepare materials and terms against what current investors and new allocators will both ask, and work out which existing investors are likely to commit again.
A wider investor base
Re-ups rarely cover a larger fund on their own. We reach new allocators in a set order, so new commitments arrive alongside the re-ups, and keep contact going between raises.
When managers come to us
The situations that bring an established manager to us.
If a successor fund needs a wider investor base, come to us.
Re-ups and new institutions are prepared in parallel, so the record opens doors and the preparation decides how far the raise goes.
If a raise is stalling, come to us.
A raise open for months usually needs a change in who it is speaking to and what they are shown. We reposition the materials and take it back out to a different order of investors.
If investors have gone quiet after the close, come to us.
We keep the relationships opened in a raise working, with contact written for the people who report to a committee, so the next raise starts with them.