Welcome to the Dakota Fund Spotlight Report, your curated snapshot of the top 10 most compelling funds coming soon or currently in the market. Each month, we will spotlight funds that stand out for their strategy, structure, or sponsor pedigree. Alongside each fund, you’ll find insightful commentary that decodes what these funds invest in, why it matters, and how it fits into broader industry trends.
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Francisco Partners VIII
San Francisco–based Francisco Partners is marketing Francisco Partners VIII, reportedly targeting $14 billion, placing it among the largest technology-focused buyout funds in the market. The fund continues the firm’s core strategy of control investments in software, technology-enabled services, and data-driven businesses where operational rigor, pricing discipline, and product optimization can drive value creation. With prior flagship funds generating strong DPI and exits to both sponsor and strategic buyers, Fund VIII is well positioned to benefit from valuation resets across the global technology landscape.
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Arctos Sports Partners Fund III
Arctos Partners has launched Arctos Sports Partners Fund III, following the close of Fund II at roughly $4.1 billion. The strategy provides minority growth capital and liquidity solutions to professional sports franchises and sports-adjacent businesses, allowing owners to monetize stakes while retaining control. As institutional investors grow more comfortable with sports as a distinct asset class, Fund III reflects rising LP interest in scarcity-driven assets with long-duration value and limited correlation to traditional private equity cycles.
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KKR Global Infrastructure Investors V
KKR is raising Global Infrastructure Investors V, with market reports indicating a target of approximately $20 billion, further cementing the firm’s position as a leading global infrastructure investor. The fund maintains a thematic focus on digital infrastructure, energy transition, transportation, and logistics assets across developed markets. With long-dated contracted revenues and inflation-linked cash flows, GII V aligns with institutional demand for scale, stability, and real-asset exposure in an uncertain macro environment.
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RIVE Infrastructure Impact Fund
European infrastructure manager RIVE Private Investment has brought the RIVE Infrastructure Impact Fund to market, targeting approximately €300 million and has raised €250 to date. The fund focuses on mid-market energy transition and sustainable infrastructure assets across Europe, often partnering with founder-owned and family-run businesses. Positioned at the intersection of infrastructure and impact, the strategy offers asset-backed returns while directly addressing decarbonization and resource-efficiency themes.
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Mandatum Credit Opportunities II
Mandatum Asset Management is raising Mandatum Credit Opportunities II following its inaugural credit opportunities fund from 2020. The fund has already raised €200 million and expects a first close in March. The strategy focuses on opportunistic and special situations credit across Europe, benefiting from bank retrenchment and ongoing corporate balance-sheet stress. Fund II is designed to deploy flexible capital across the capital structure, emphasizing downside protection and attractive risk-adjusted returns in a higher-rate environment.
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CedarBridge High Growth III
CedarBridge Capital Partners has launched CedarBridge High Growth III, targeting approximately $150 million, with a first close completed and fundraising expected to continue into 2026. The fund pursues minority growth equity investments across education, healthcare, consumer services, and technology-enabled businesses, with a geographic focus on the Middle East and selective expansion into Europe. Fund III is positioned to benefit from long-term demographic and consumption trends while supporting companies seeking institutional capital without full control transactions.
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Kotak Strategic Situations Fund III
Kotak Alternate Asset Managers is raising Kotak Strategic Situations Fund III, reportedly targeting $2 billion, extending its India-focused special situations franchise. The fund targets structured equity and credit investments driven by complexity, transitional ownership, and balance-sheet stress across Indian corporates. As private capital plays a more central role in India’s financial system, Fund III offers LPs exposure to idiosyncratic, situation-driven returns tied to one of the world’s fastest-growing major economies.
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American Landmark Apartments Fund V
American Landmark Apartments is marketing Apartments Fund V, targeting approximately $1 billion in equity commitments to continue its value-add multifamily strategy across high-growth Sunbelt markets. The fund has raised approximately $400 million to date. The fund focuses on acquiring and repositioning Class B apartment communities through targeted renovations, operational improvements, and expense optimization. With housing supply constrained and demand for workforce housing remaining resilient, Fund V seeks to deliver steady income with asset-level upside.
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TrueBridge Capital Partners Fund IX
TrueBridge Capital Partners is raising Fund IX, targeting approximately $925 million, following the close of Fund VIII at roughly $884 million in 2024. The fund-of-funds strategy provides diversified exposure to early-stage, technology-focused venture managers, with an emphasis on access to both established and emerging GPs. Fund IX continues TrueBridge’s approach to smoothing venture outcomes across vintages while simplifying portfolio construction for institutional and wealth-channel LPs.
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Deep33 Ventures Fund I
Deep33 Ventures has launched their inaugural fund, targeting $150 million, with $100 million already raised. They are focused on seed and pre-Series A investments in B2B technology companies. The strategy emphasizes hands-on operational support and targets founders outside traditional coastal venture hubs, aiming to capture regional innovation and lower entry valuations. Their successful fundraise thus far demonstrates the growing LP interest in emerging managers with differentiated sourcing advantages.
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