Dakota February 2025 Monthly Roundup

Overview

February 2025 was a high-activity month for private markets, with over $12B in institutional allocations and major fundraising momentum across private equity, credit, and real assets. Flagship funds like GTCR ($3.6B) and PSG ($6B) demonstrated continued demand for growth-focused software strategies, while Oaktree raised a record $16B distressed debt fund amid tightening credit conditions. AI and data infrastructure dominated venture capital headlines with Anthropic’s $3.5B round leading the charge. Real assets surged, fueled by Brookfield’s $7B infrastructure fund and Sculptor’s $3B real estate raise. Download the full report for deeper insights into February’s standout deals, fundraising activity, and market trends.

Private Equity Momentum: Despite macro uncertainty, flagship funds thrived—GTCR’s $3.6B close and PSG’s $6B raise underscore investor appetite for mid-market and growth-focused software strategies
AI and Tech Lead VC Activity: Anthropic’s $3.5B round and multiple AI-driven investments highlighted sustained demand for next-generation cloud, analytics, and data infrastructure
Private Credit Expansion: Oaktree raised $16B for one of the largest distressed debt funds ever, while Churchill closed a $750M CLO, reflecting strong LP appetite for yield in a high-rate environment
Real Assets Surge: Brookfield’s $7B Infrastructure Debt Fund IV and Sculptor’s $3B real estate fund highlight institutional demand for inflation-hedging, long-duration investments
Institutional Allocations Top $12B: Major players like CPP, New Jersey Division of Investment, and Minnesota State Board of Investments fueled private equity, credit, and real estate strategies
Financial Services M&A Picks Up: TowerBrook, Aquiline, and Apollo expanded in wealth management, CLOs, and real estate, reshaping alternative asset management
Defense and Industrials Deals Grow: Trive Capital, Argonaut PE, and EnduroSat injected capital into aerospace, reshoring, and space tech amid rising defense spending
Disciplined M&A Strategies: Firms optimized portfolios with divestitures (Investcorp, Sovereign Capital) while selectively pursuing high-value acquisitions in resilient industries