Private equity funds in Africa raised a record amount of capital in 2015—51 percent more than the previous year. This is largely due to its growing middle class and the increasing need for more resources.

Private equity funds based in North America have decreased in number since 2014, yet grown in size. Privcap takes a look at 2015’s fundraising data compiled by Preqin.

The Florida-based firm closed its latest fund in October and is already putting capital to work, says partner Roger Marrero.

As of the end of October, there were 30 global energy-focused private equity funds closed. While that is down from the 50 funds closed in the boom year of 2013, the amount of capital raised so far in 2015 that’s been earmarked for energy beats each of the past five years.

Lovell Minnick recently closed its fourth fund at $750M in commitments. Managing director Bob Belke discusses the firm’s focus on financial services companies, its hands-on growth strategy, and plans for adding value to investments.

Boston-based Silversmith Capital’s first-time fund raised $460M, exceeding its fundraising goal by 30 percent. Managing partner Jim Quagliaroli discusses how he and his partners tapped into their network for their first successful fundraise.

The list of countries off-limits to private equity investment recently grew shorter by one: Iran. Forward-thinking investors are emboldened by the recent nuclear deal and the lifting of sanctions.

In July, the IRS issued a proposed rule change meant to stifle supposed abuses of how private equity fund management fees are claimed for taxes. Vinson & Elkins’ David Peck says it’s a hot topic, and the outcome of the proposal is anyone’s guess.

Jeff Eaton of Eaton Partners explains what LPs are looking for in energy funds in the current market, and why it’s important for GPs to differentiate themselves.