David Toll
Second fund about halfway to target of $300 mln First eight flea markets part of first fund New flea markets will go in second fund How do you continue fueling a rapidly expanding platform company when the fund that owns it has exhausted its capital? If you’re New York-based Delos Capital, you split the opportunity […]
YTD, TA has completed four partial recaps Did four in all of last year New Gamma investor is Cove Hill Gamma Technologies last month said it had agreed to sell a stake to private equity shop Cove Hill Partners, marking one of four partial exits so far this year for growth-equity specialist TA Associates. TA Associates, which has […]
Executive turnover is a returns killer. What can you do to minimize it? Unfortunately, turnover is a fact of life for private equity firms. Research from management consulting firm AlixPartners suggests that nearly three-quarters of portfolio-company CEOs don’t last during the holding period of the typical investment. And the timing of their departure is often poor. […]
Some buyout shops seem susceptible to losing talent to spinout groups. Around the time Castle Harlan said it was pulling the plug on raising Fund VI in 2015, for example, four executives from the firm, including former Co-President Howard Morgan, emerged as founders of a new New York-based buyout shop called Argand Partners. The new shop […]
Suzanne Yoon, an ex-managing director at Versa Capital Management and founder last year of Kinzie Capital Partners, finds that the lower-mid-market companies she vets for investments can often be woefully behind when it comes to technology. Among the problems she might encounter: companies lacking chief information officers or chief technology officers; companies whose e-commerce websites […]
It is not exactly a good time to ask top-performing firms to cut their carried interest percentage or to accept a no-fault divorce clause. Demand for slots in top funds is way too intense. Still, institutional investors continue to fight hard for LP-favorable terms with first-time funds and other emerging managers. Much of the negotiating centers […]
Two thirds of institutional investors responding to a recent survey picked the “level of general partner financial commitment to the fund” as the partnership term they focus on most when deciding whether to invest in a fund or to advise a client to do so. Investors like to see a healthy GP commitment because it so neatly […]
Many buyouts and growth equity firms added staff this year, taking advantage of a buoyant fundraising market to bulk up their operations, fundraising and credit teams. The overall pace of industry hiring seems “modestly robust,” said Heather Hammond, managing director-financial services at executive recruiter Russell Reynolds Associates, as firms add mainly to their junior ranks. According to […]
Index measures changes in enterprise value of sponsor-backed companies Index developed by Lincoln Int’l, two U. of Chicago professors Designed for mid-market lenders, sponsors The just-introduced Lincoln Middle Market Index, measuring changes in enterprise value of sponsor-backed companies, grew 23 percent over the 3 1/2 years ended Sept. 30. The index’s ups and downs largely tracked those of […]
Petrichor Healthcare Capital Management LP receives $100 mln anchor investment Petrichor launched for former MD for OrbiMed Advisors Archean Capital Partners is JV between Moelis Asset Management and Veritable LP Petrichor Healthcare Capital Management LP, launched this January by an ex-managing director at OrbiMed Advisors, is the first private equity shop to secure seed funding from Archean […]