Olympus Partners has hit a first close of more than $1.7 billion for its sixth fund and expects to hold a final close on $2.5 billion by the end of next month, a source tells peHUB.
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A first close can be a very happy milestone for those on the fundraising trail. Unfortunately, the first close is also becoming more elusive, according to new findings from the private equity data provider Preqin.
(Reuters) – Cerberus Capital Management LP has completed fundraising for its latest flagship private equity fund, raising $2.61 billion to invest in distressed assets, Reuters reported Wednesday. The new fund fell short of the firm’s target of $3.75 billion.
(Reuters) – Emergency Medical Services Corp., bought by Clayton, Dubilier & Rice LLC in 2011, has selected Goldman Sachs Group Inc. (GS.N), Barclays Plc (BARC.L) and Bank of America Merrill Lynch (BAC.N) to lead the underwriting of a $750 million IPO that may come in the third quarter, sources told Reuters.
(Reuters) – Private equity owners of Numericable have asked about 10 banks to pitch on a possible stock exchange listing this year that could value the French cable company at around 4 billion euros ($5.3 billion), three people with knowledge of the plan said. Numericable is owned by Cinven, Carlyle Group and Altice Group.
(Reuters) – Bain Capital LLC is close to securing commitments from investors for about half the $6 billion target for its latest private equity fund, two people familiar with the matter said on Monday.
(Reuters) – Brazilian private equity funds are pushing ahead with a plan to win investment commitments from insurers and pension funds that are seeking higher returns on over 1.1 trillion reais (about $550 billion) of money under management.
When it comes to the middle market, Marlin Equity Partners appears to be moving up in a big way with a $1.6 billion target for its latest buyout fund, Marlin Equity IV LP. If successful, the Hermosa Beach, Calif., private equity firm founded by deal maker David McGovern will nearly triple its current $1 billion in funds under management and move up a notch or two in the world of medium-sized shops.
The secretive world of single-family offices has become a more meaningful source of capital for private equity as traditional LPs get cold feet. Apparently these wealthy family money managers are eager to get more involved with the asset class.
How successful was Bain Capital under Mitt Romney’s leadership? The buyout shop invested $1.91 billion and realized $6.75 billion in proceeds, a multiple of 3.5x, peHUB has learned.