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Simpson Thacher Advises on the Largest Private Equity Fund of Q3 2024
10.04.24
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Simpson Thacher advised on the largest private equity fund to close in Q3 2024, according to Preqin. The Firm advised New Mountain Capital on its seventh private equity fund, New Mountain Partners VII, which closed at $15.4 billion. The top Q3 fund closings were also featured in a Law360 article titled, “Inside The Top 5 PE Funds Of 2024's Third Quarter.” In the piece, Michael Wolitzer, Head of the Firm’s Investment Funds Practice, noted, “Hopefully as the stock market remains strong and interest rates come down, it facilitates an environment for realization that will allow (limited partners) to be less tight with new commitments.” Reflecting on the Q3 fundraising market, he also observed that the ability of two funds to raise over $15 billion suggests a continued consolidation in the market.
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