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After home run debut fund Garnett & Helfrich considers a second: Buyouts

Terry Garnett and Dave Helfrich, the guys behind technology buyout firm Garnett & Helfrich Capital, could probably raise a second fund. The question is, why haven’t they? Their first fund, a $350 million vehicle put together nearly a decade ago, has performed remarkably well, sister magazine Buyouts reports.

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HarbourVest-backed Kinaxis trims IPO price: Reuters

Kinaxis Inc trimmed the expected offer price of its initial public offering on Tuesday, in a sign that market demand for the Canadian software company’s equity issue may not be as hot as originally expected, Reuters reported.

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GTS sold to Deutsche Telekom

GTS has been sold to Deutsche Telekom for 546 million euros. GTS is an infrastructure-based telecommunications service provider in South East and Eastern Europe. It is currently owned by a consortium of international private equity firms including Bessemer Venture Partners, Columbia Capital, HarbourVest Partners, Innova Capital, MC Partners and Oak Investment Partners.

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Online home decor retailer Wayfair grabs $157 mln

Wayfair said Friday that it has closed $157 million in Series B financing. T. Rowe Price Associates led the round with participation from TripAdvisor CFO Julie M.B. Bradley. Headquartered in Boston, Wayfair is an online retailer of home furnishings and decor. Its backers include Battery Ventures, Spark Capital, HarbourVest Partners and Great Hill Partners.

HarbourVest Partners appoints König as MD

HarbourVest Partners has appointed Olav König as a managing director and head of sales and client service for Europe, the Middle East, and Africa. In this role König will expand and enhance HarbourVest’s relationships with investors and their advisers in the EMEA geographic region.

Wayfair Raises $36.3M From Battery, Great Hill, HarbourVest & Spark

Wayfair.com said it raised $36.3 million in equity financing from Battery Ventures, Great Hill Partners, HarbourVest Partners and Spark Capital. The money will be used to grow Joss & Main, the company’s private sale site for the home. The site has nearly three million members and is operating at a $100 million annual revenue run-rate.

CHAMP Ventures Acquires Majority Stake in Sea Swift

CHAMP Ventures 7 Funds has acquired a majority interest in the Queensland-­based marine logistics company Sea Swift. HarbourVest Partners is investing alongside CHAMP. Sea Swift has over 300 staff and 25 vessels, with current turnover of approximately $100 million.

HarbourVest To Buy Conversus PE Portfolio

HarbourVest Partners has agreed to buy the private equity portfolio held by Conversus Capital for $1.4 billion, or $22.11 per Conversus unit as of April 30. The deal is expected to hold an initial close during Q4 with subsequent closings occurring throughout 2013. In February, Conversus announced a review of strategic alternatives, including a possible […]

BenefitMall and CompuPay Merge with Austin Ventures Backing

BenefitMall and CompuPay have merged through an equity financing led by Austin Ventures and including HarbourVest Partners. The merger of BenefitMall and CompuPay will create a national provider of employee benefit and payroll solutions. PRESS RELEASE BenefitMall and CompuPay (together, the “Company”) today announced a merger of the companies through an equity financing led by […]

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Returns Scorecard: 10 Top Funds of Funds: CORRECTED

Back in 2008 and 2009 I took an in-depth look at the performance of funds of funds and, well, found them lacking. I raised the question of whether they were worth the added layer of management fees and, in many cases, carried interest. This year I revisit the subject with a larger, 80-fund, pre-vintage 2007 […]

HarbourVest Promotes Eleven

Buyout shop HarbourVest Partners has promoted David Atterbury to the post of managing director, and promoted ten other individuals to principal and vice president. In Europe, Carolina Espinal de Carulla, Claudio Siniscalco and Hannah Tobin have been promoted to Principal; and Craig MacDonald has been promoted to Vice President. In Asia, Tim Flower has been promoted to Principal; and Kelvin Yap and Maggie Chan have been promoted to Vice President. And in the U.S., Ian Lane and Aris Hatch have been promoted to Principal; and McComma Grayson has been promoted to Vice President.

PennSERS Is Trying to Sell up to Half ($3B) of Its PE Assets

Things haven’t been going so great over at the Pennsylvania State Employees’ Retirement System. It faces increasing obligations to pensioners, is over-allocated to private equity and has lost staff from its PE investment team. Against that backdrop, the $25 billion pension fund has been seeking buyers for as much as $3 billion worth of its PE investments, one […]

Renaissance Gets Offer from Thoma Bravo/HarbourVest But Recommends Lower Permira Bid

Renaissance Learning said yesterday that it did receive a definitive buyout proposal from Plato Learning that is backed by Thoma Bravo and HarbourVest Partners. Plato is bidding $15.50 a share cash, which includes $128 million equity plus $410 million in debt. However, Renaissance’s board said it is still recommending a lower offer from Permira Funds. Permira is offering $14.85 a share cash.

Bain, KKR Put in Final Bids for MYOB

Bain Capital and Kohlberg Kravis Roberts & Co. have put in their final bids for Australian software maker MYOB Lt., Reuters reported Monday. The company, which is owned by Archer Capital and HarbourVest Partners, could fetch more than $1 billion. Archer and HarbourVest paid about A$450 million for the company in 2008.

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