Managers across private equity, private credit, real assets, and venture capital kept launching new strategies into year-end — signaling that the 2026 fundraising and deployment cycle is already taking shape. Like November, targets are being set more deliberately and timelines are staged into 2026, but the pipeline remains deep and increasingly specialized.
Tracking these launches is still difficult. Announcements are fragmented across filings, press releases, and limited disclosures, making it easy to miss the funds that matter most. This monthly roundup helps solve that challenge — while Dakota Marketplace provides the full strategy details, fundraising targets, and allocator intelligence behind every new launch.
Want strategy details, fundraising targets, and LP commitments on every new fund?
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Market Context: Why December’s Fund Launch Activity Matters
December’s launches highlighted a market shifting from “wait-and-see” to early positioning. Mega and scaled platforms continued to re-enter with follow-on vehicles and evergreen formats, while specialists leaned further into sector focus and structurally supported themes — secondaries, NAV- and liquidity-oriented credit, digital infrastructure, and energy transition. The result is a fundraising environment that’s slower, but more intentional and theme-driven.
A standout signal this month was the growing role of public and sovereign-linked capital in shaping pipeline formation. Proposed vehicles tied to national priorities such as infrastructure and defense, alongside sovereign-backed real estate and regional infrastructure platforms, reinforce how public-private capital partnerships are increasingly being used to mobilize private investment at scale.
Across asset classes, the common thread was specificity: clearer mandates, tighter execution plans, and more defined end-markets (from biodiversity-linked credit to climate infrastructure, real estate debt, and venture secondaries). Taken together, December’s activity suggests capital formation is not retreating but rather recalibrating around liquidity planning, essential assets, and durable secular demand.
Top New Fund Launches
Below are some of the most notable launches added into Dakota Marketplace this month.
(Full details—including targets, strategy breakdowns, and manager profiles—are available inside Dakota Marketplace.)
Private Equity
Bregal Sagemount V
- Bregal Sagemount’s follow-up to the $2.5B Bregal Sagemount IV, which received support from new and existing institutional investors, including endowments, pension funds, large family office investors, and key consultant relationships.
- Key Themes / Focus Areas: Targets growth businesses in end-markets with uncorrelated secular growth characteristics.
- Why it matters: Reflects fund managers’ loyalties to strategies that proved to be successful in the past.
A&M Capital’s New Fund
- With a $500M target and an initial closing planned for early 2026, the secondaries fund will support the private equity firm’s multi-strategy investment style.
- Key Themes / Focus Areas: Single-asset continuation vehicles, with flexibility to partake in multi-asset CVs and LP-led transactions.
- Why it matters: Reflects continued interest on secondary funds.
Greenbriar Equity Fund VII
- Greenbriar Equity formally filed with the SEC for the fund, seeking $4.25B of additional dry powder for its middle-market buyout strategy.
- Key Themes / Focus Areas: Sector-focused middle-market; North America; industrials.
- Why it matters: Illustrates how specialized mid-market managers are gaining traction with LPs seeking targeted exposure.
OceanSound Partners Fund III
- OceanSound Partners’ third middle-market fund with a $2B target and marketed with the assistance of UBS Private Funds Group.
- Key Themes / Focus Areas: Technology and tech-enabled services companies catering to governments and highly regulated enterprise end markets.
- Why it matters: Underscores the stable appeal of strategies that prospered even at the height of the COVID-19 pandemic.
Crescendo Equity’s Third Flagship Fund
- South Korean specialist private equity firm Crescendo Equity Partners is aiming to nearly triple its second flagship fund with a $1.25B target for the new fund under its flagship strategy.
- Key Themes / Focus Areas: Middle-cap technology companies across Asia.
- Why it matters: Represents stable demand in Asia for private capital to support the mid-cap technology and manufacturing sector of the region.
See continuation fund details inside Dakota Marketplace.
Private Credit
Carlyle AlpInvest’s Credit Secondaries Fund
- On the back of a record-breaking $20B flagship secondaries private equity fund, Carlyle Group’s AlpInvest has reportedly started gauging investors’ interest for a new secondaries fund dedicated to private credit.
- Key Themes / Focus Areas: Credit secondaries.
- Why it matters: More and more fund managers are branching out into credit secondaries amid lingering concerns for private credit.
Amundi Responsible Investing Euro Credit Biodiversity
- European asset manager Amundi launched the fund in collaboration with Credit Agricole Group to support the preservation of natural capital with the help of commitments from investors in more than 10 countries across Europe.
- Key Themes / Focus Areas: Euro-denominated green bonds.
- Why it matters: Shows the evolution of corporate financing as sustainability initiatives attract more attention.
Book a demo to see fund details inside Dakota Marketplace.
Real Assets & Infrastructure
Deutschlandfonds or Germany Fund
- Germany’s government established a state-anchored fund that will also target up to €130B ($152.3B) in private capital to support large-scale public infrastructure projects and defense spending. Apollo and KKR are reportedly in talks to invest.
- Key Themes / Focus Areas: Public infrastructure and defense projects; focused on Germany.
- Why it matters: Shows national governments see the importance of private capital in advancing nationally significant initiatives, including infrastructure and defense projects.
NGP Sustainable Real Assets II
- NGP Energy Capital Management is aiming to grow dry powder for its strategy of investing in companies looking to acquire and develop clean energy assets.
- Key Themes / Focus Areas: Clean energy assets worldwide.
- Why it matters: Demonstrates growing interest in energy transition.
Singapore Central Private Real Estate Fund
- Hong Kong-based Hongkong Land intends for its first ever private real estate fund to become one of the largest of its kind in Singapore with a planned AUM of SGD 8B ($6.19B) for the yet-to-launch investment vehicle.
- Key Themes / Focus Areas: Commercial real estate in Singapore.
- Why it matters: Indicates that large developers in Hong Kong are checking opportunities outside amid uncertainties surrounding the city’s commercial real estate sector.
Sandbrook Climate Infrastructure Fund II
- Sandbrook Capital set a conservative target of $2B for its second climate infrastructure fund considering it raised $2.1B for the predecessor, Sandbrook Climate Infrastructure Fund I.
- Key Themes / Focus Areas: Multi-industry, with a focus on power generation, grid infrastructure, supply chain management, energy use and efficiency, and climate adaptation.
- Why it matters: Shows interest in strategies designed to address climate concerns is sustained as the new year approaches.
Learn more inside Dakota Marketplace.
Venture Capital
Private Investment Partners 17
- Tiger Global Management set a conservative target of $2.2B for its new venture capital fund after failing to achieve a $6B target for Private Investment Partners 16 in 2024.
- Key Themes / Focus Areas: Enterprise technology startups in the US and India.
- Why it matters: Signals continued LP appetite for specialist VCs at the frontier of innovation.
Lux Ventures IX
- Lux Capital Management is aiming to surpass its largest fund so far with a $1.5B target for the new fund, the follow-up to the $1.15B Lux Ventures VIII.
- Key Themes / Focus Areas: Startups on the cusp of scientific and technological breakthroughs.
- Why it matters: Technology continues to be an area of high demand for VC firms.
TrueBridge Secondaries II
- With a $350M target shared with related fund TrueBridge Secondaries II (Cayman), the investment vehicle secured commitments from investors including the Oklahoma Municipal Retirement Fund.
- Key Themes / Focus Areas: Mid- to late-stage companies and venture funds.
- Why it matters: Shows that venture capital firms also contribute to the rapid growth of the secondary market.
Olympus Innovation Ventures Fund II
- Placed under Cerity Partners Ventures management, Olympus’ new fund will target medical technology startups focused on gastrointestinal, urology, and respiratory.
- Key Themes / Focus Areas: Specialized medtech startups; seed through growth-stage.
- Why it matters: Reflects the growing importance of VC in niche markets.
Book a demo to explore all CEE VC launches.
Want to See All New Fund Launches This Month — Across PE, VC, Private Credit, and Real Assets?
Dakota Marketplace gives you fundraising targets, strategy detail, LP commitments, sector mapping, and manager profiles — all in seconds.
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Market Themes & What They Signal for 2026–2027
1. Governments are seeking private capital for public projects
Some countries have started looking into the private sector for additional funding for planned public projects, particularly infrastructure developments.
2. Expansion of secondary strategies to credit continue
More fund managers are launching secondary strategies focused on credit despite growing concerns for the asset class following high-profile defaults.
3. Energy transition and climate-focused funds maintain traction
Strategies dedicated to the energy sector and the transition to clean energy continued to be in high demand for investors.
4. Fund managers go for bigger
As the fundraising market continues to recover and fund managers regain confidence, many have started offering investment vehicles designed to break firm-records in terms of size.
How We Know This
Dakota Marketplace tracks thousands of private funds across private equity, private credit, real assets, and venture capital. Fund intelligence includes strategy details, fundraising targets, sector exposure, LP commitments, and manager profiles — updated in real time as new launches appear.
