Latest private equity fundraising updates: top earners in investment sphere
In a significant development for the private equity sector, Haveli Investments, a firm based in Austin, has successfully raised $4.5 billion for its first software buyout fund. This marks a major milestone for the company, founded by Vista Equity Partners co-founder Brian Sheth in 2021.
The fund, named Trident X, has attracted backing from a diverse group of investors, including public and private pension funds, insurers, foundations, family offices, and high-net-worth individuals from across the globe.
Trident X began deploying capital in May 2025 and has already completed its first investment in Ultimus Fund Solutions. The fund will target a globally diversified portfolio of direct equity co-investments, focusing on software, data, gaming, and adjacent sectors.
Meanwhile, Neuberger Berman, a leading player in the private equity industry, has also made headlines with its fundraising efforts. The firm, which manages over $40bn in committed co-investment capital and $140bn in total private markets assets, has recently wrapped up its fifth co-investment fund at over $2.8 billion. Neuberger Berman's NB Strategic Co-Investment Partners V fund has surpassed its $2.25bn target.
Another notable fundraise comes from Stone Point Capital, with its Trident X fund closing at $11.5 billion in total commitments. This is approximately $2.5 billion larger than its predecessor, Trident IX, which closed in 2022 at $9 billion.
Apollo Global Management and Haveli Investments did not have specific recent fundraising amounts publicly disclosed in the search results up to July 2025.
In addition, Neuberger Berman's total capital raised for co-investments and customized accounts is now nearly $6bn since the beginning of 2024.
The investment strategy of Haveli Investments includes a mix of structured equity and debt offerings, targeting both minority and control stakes in enterprise software businesses. The fund's success underscores the growing interest in the software sector and the potential for significant returns in this space.
The report about Haveli Investments' fundraise was published by the Wall Street Journal. This news is a testament to the growing influence of private equity firms in shaping the global investment landscape.
- Haveli Investments, founded by Vista Equity Partners co-founder Brian Sheth in 2021, has successfully raised $4.5 billion for its first software buyout fund, Trident X.
- Trident X has attracted backing from a diverse group of investors, including public and private pension funds, insurers, foundations, family offices, and high-net-worth individuals from across the globe.
- The fund will target a globally diversified portfolio of direct equity co-investments, focusing on software, data, gaming, and adjacent sectors.
- Neuberger Berman has also made headlines with its fundraising efforts, completing its fifth co-investment fund at over $2.8 billion.
- Another notable fundraise comes from Stone Point Capital, with its Trident X fund closing at $11.5 billion in total commitments, approximately $2.5 billion larger than its predecessor.
- The investment strategy of Haveli Investments includes a mix of structured equity and debt offerings, targeting both minority and control stakes in enterprise software businesses, offering potential for significant returns in this sector.
