PE HUB Wire Highlights, 6.18.19


Photo of Luisa Beltran, PE HUB Senior Editor, courtesy of Buyouts Insider.

Twin Brook latest direct lending fund raises $2.75B; Ripple takes a chunk of THL-backed MoneyGram; Bonderman’s family office invests in Spring Fertility

Salaries for PE executives are getting bigger.

The average base salary for PE execs with the title of director or principal was $194,166 last year while total compensation was $275,985, Institutional Investor said citing research from J. Thelander Consulting. (Thelander conducted a study with PitchBook that received responses from 166 firms.)

Bonuses in 2018 shot up to an average of $120,563, II said. The total compensation is on top of carried interest, which is not paid out on a regular schedule, the report said. Individual directors and principals who work in PE received an average 3.6 percent of their firm’s carried interest in 2018; women got a smaller slice of carried interest than their male colleagues, the story said.

Hubsters, are you seeing your compensation rise? If so, by how much? Email me at lbeltran@buyoutsinsider.com

Fintech: Some big news in financial services. Ripple is taking a stake in MoneyGram, the publicly traded money transfer company backed by Thomas H Lee Partners. Ripple is investing $30 million and has the option to buy another $20 million the next two years. This translates to an 8 percent to 10 percent stake in MoneyGram for Ripple, according to press reports. See our brief here.

The deal comes over a year since MoneyGram and Ant Financial Services Group mutually agreed to pull their proposed $1.2 billion merger after failing to get approval from CFIUS. THL invested in MoneyGram in March 2008.

Ditech Holding Corp, which has filed for bankruptcy protection, looks like it has some buyers. New Residential Investment Corp has agreed to buy Ditech Financial, the forward mortgage servicing and orginations business. New Residential is an affiliate of Fortress Investment Group LLCMortgage Assets is buying Ditech’s Reverse Mortgage Solutions Inc.

The deal calls for New Residential and Mortgage Assets to serve as proposed “stalking horse bidders” in court-supervised sale processes. See our brief here.

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