Arbor Investments needed only 87 days to raise its fifth fund, collecting $1.5 billion in the latest bit of evidence that life goes on for private equity despite the pandemic.
The pool is roughly double the $765 million secured by Arbor’s fourth fund in 2016. It is also significantly above Arbor’s $1 billion target for Fund V.
“We are humbled by the commitments from our longtime limited partners as well as the interest from new investors who have entrusted Arbor with their capital,” said Gregory Purcell, Arbor’s co-founder and CEO, in a statement.
Arbor’s fundraising is notable because it was conducted entirely using web-conference technologies such as those from
Zoom Video Communications
(ticker: ZM). The Covid-19 pandemic was expected to stall fundraising because it shut down travel for many businesses, including private-equity firms.
Arbor was inundated with interest and conducted “meetings”