Cambridge: Private equity LPs received most-ever distributions last year

Limited partners in private equity funds received the largest total of distributions last year in the history of the Cambridge Associates benchmark. LPs in venture capital funds received the second largest payout since 2000. Cambridge’s private equity index rose 20.6 percent last year, while the venture capital index increased 27.2 percent, its best annual performance in 15 years.


Red flags: Alibaba’s Ma and Ma’s private equity firm: Reuters

When a fast-growing private equity firm co-founded by Jack Ma sought funding from institutional investors for the first time in early 2013, almost all had one major concern, its chairman said: was the firm independent from Ma, the influential executive chairman of Alibaba Group Holding, China’s e-commerce giant.


Tower Arch Capital closes debut fund on $272 mln expanded hard cap

Tower Arch Capital has closed its debut private equity fund on its expanded hard cap of $272 million. Fund I beat its original $175 million target. Tower Arch’s limited partner base includes chief executives and management team members of prior investments, along with foundations, private pension funds, insurance companies, fund of funds and family offices. The fund made its first investment in Future Telecom, Inc., which provides specialty boring services. Shannon Advisors worked as placement agent on the fundraising.


Florida commits $872.5 mln to alternatives in Q2

The Florida State Board of Administration committed $872.5 million to alternative investments in the second quarter, including about $622.5 million to private equity, according to an investment summary provided by the pension system.


KKR agrees to invest in Switzerland-based media business Ringier

Kohlberg Kravis Roberts has agreed to acquire 49 percent of the shares in each of Switzerland-based media enterprise company Ringier’s subsidiaries Scout24 Schweiz and Omnimedia. Scout24 Schweiz operates online markets for motor vehicles, real estate and classified ads. Omnimedia is a digital marketing company. Financial details were not disclosed, and the deal still requires regulatory approvals.


KKR acquires stake in hedge fund BlackGold Capital

Kohlberg Kravis Roberts has acquired a 24.9 percent stake in credit-oriented hedge fund BlackGold Capital Management. Financial details of the transaction were not disclosed. BlackGold specializes in energy and hard asset event-driven strategies while investing throughout the capital structure. KKR made the investment from its balance sheet and not through its funds.

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