Guest columnist Philippe T. Schenk of Grove Street wonders if the uncertainty around taxes in Q4 affected PE investment decisions and led to a misalignment of interests between the taxable GP and the tax-exempt LP.

PeHUB zeroed in on the years 2006 to 2009 to highlight the 10 funds with the worst IRRs. Six are vintage 2006, three come from vintage 2007.

Vintage 2007 is a stand-out year for venture funds in CalPERS’ Grove Street Advisors portfolio, according to a peHUB analysis of the California Public Employees’ Retirement System’s most recent fund performance report.

American Industrial Partners is set to close its fifth buyout fund, possibly as early as this week, Buyouts reported earlier Monday, citing two sources. The New York-based shop will close the fund at its hard cap of $700 million, $200 million ahead of target, the sources said. The fundraise is impressive considering, according to the [...]

The market is teeming with fundraising hopefuls, from spin-out groups seeking modest sums to mega-firms after multi-billion-dollar war chests. Around the world, more than 1,600 private equity funds are in the market seeking an estimated $673 billion, according to data provider Preqin. It’s a measure of the difficulty of securing commitments that so far their [...]

Kiran Rao has joined Grove Street Advisors, a PE advisory with more than $6 billion under management, as a principal. He previously was with Boston Consulting Group.