At a glance
- Commitments came from more than 90% of the firm's existing investors, and AltAssets described the raise as taking six months.
- Phoenix is a UK lower mid-market private equity firm; Insight is its flagship fund series.
- For an allocator new to the firm, the re-up rate is the number to weigh rather than the fund size.
Phoenix Equity Partners closed its third flagship Insight fund at £570 million, above the original hard cap, AltAssets reported on Nov. 12.
Commitments came from more than 90% of the firm's existing investors, and AltAssets described the raise as taking six months. Phoenix is a UK lower mid-market private equity firm; Insight is its flagship fund series.
For an allocator new to the firm, the re-up rate is the number to weigh rather than the fund size. Whatever share of the £570 million returning investors did not take is the capacity that existed in this vintage, which suggests a first relationship with Phoenix would more plausibly begin at a later fund.
Reported by the Raises & Launches desk from AltAssets. Published . Corrections