LONDON & NEW YORK–(BUSINESS WIRE)–Asante Capital Group (“Asante”), a leading independent private equity placement and advisory group, is pleased to announce an exceptional year, continuing its record of successful fundraising, strengthening its global presence and capabilities, and facilitating discussions from industry experts and the Asante team on key topics driving private equity.
“We are very proud of our track record raising funds and our commitment to providing the best solutions for our clients across the globe as they navigate the current economic environment and look to the future,” said Fraser van Rensburg, co-founder and Managing Partner at Asante. “Despite continued uncertainty in the market, 2023 was a year of strong performance for Asante and its partners. We will continue this momentum in 2024, offering our GP clients creative, hands-on solutions by enhancing our reach around the world.”
Despite a challenging fundraising environment, Asante supported 43 successful fund closes around the globe in various sectors, with the majority exceeding their targets. Some highlights include:
- Equip Capital II, the leading Nordic consumer fund, closed at the hard cap of NOK3.0 billion after seven months in the market.
- Gemspring Capital Fund III, the middle-market firm’s latest buyout fund, closed at its hard cap of $1.7 billion in just over four months.
- Norvestor IX SCSp, the leading Nordic buy-and-build specialist’s latest flagship fund, closed at its hard cap of €1.5 billion within 11 months, exceeding its €1.25 billion target.
- Whitehorse Fund V, the newest flagship fund from the specialized Canadian private equity firm, closed at US$5.3 billion within 12 months, exceeding its US$5.0 billion target.
- Over $2 billion USD capital raised from the APAC region across Asante’s US, European and Asian managers.
- Notably, Asante has also completed successful fundraisings accounting for two-thirds of all funds closed in China through 2023.
Asante also saw another year of strong internal growth with several senior promotions and the continued expansion of its global team. In 2023, Asante promoted five new managing directors and the full team grew to over 70. Asante’s Munich and Hong Kong offices both doubled in size from their inceptions, and the firm expanded its footprint across North America by establishing a team in Los Angeles, underscoring Asante’s efforts to more effectively connect GPs from various markets with capital sources worldwide.
In addition, Asante further strengthened its secondaries offerings, advising on successful fund closes including Maguar Continuation Fund I from the B2B software investor, as well as healthcare investor BPOC’s first continuation fund. The team also meaningfully enhanced its existing capabilities with the promotion and relocation of Sam Cantor to New York to focus on dedicated secondaries activities in the US. As the firm harnesses the unified expertise of its global secondaries team, this on the ground expansion provides clients with deeper access to an increasingly pivotal bespoke offering that Asante is rapidly expanding.
Throughout 2023, Asante continued to demonstrate its thought leadership in the private equity space. Notably, the firm hosted the Asante Summer Series. Getting to the heart of the state of private equity, the series brought together experts from across the industry to discuss top trends, considerations, and challenges in the current market. Moderated by Asante’s managing directors, the six roundtables focused on how GPs and LPs can best navigate the market, including lessons learnt and key trends and considerations from past cycles.
Asante also continues its longstanding support of the Asante Africa Foundation, a charitable organization dedicated to providing for childhood education in Africa, and the team have committed themselves to multiple volunteer days in all their major hubs around the world.
“The achievements of this year are a testament to Asante’s unique capabilities. From our nuanced understanding of the market to our specialised regional expertise, we strive to serve our GPs and help them successfully grow their businesses regardless of economic cycle,” said Warren Hibbert, co-founder and Managing Partner at Asante. “We are excited for what 2024 will bring as we continue to deepen our commitment to being the go-to trusted, independent advisor and partner.”
About Asante
Asante Capital Group is a leading independent private equity placement and advisory group. Founded in 2010, the firm has offices in London, New York City, Los Angeles, Hong Kong, and Munich. The team of over 70 professionals has advised on over $80 billion of successful private capital raisings across the globe, raising capital from North American, European, Middle East and Asia-Pacific-based investors. Asante specializes in GP advisory and fundraising support across primary, direct and secondary investments.
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Emily Scerbo
Prosek Partners
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