An SEC compliance examination uncovered some interesting activity at consumer-focused JH Partners that resulted in a settlement and censure of the firm for conflicts involving undisclosed loans to portfolio companies. The SEC reached a settlement with San Francisco-based JH Partners that included the censure and a civil penalty of $225,000, the SEC said in its […]
No wonder giant limited partners seek to build customized accounts with big private equity firms: The economics are fabulous. Smaller systems can only wish to get this kind of treatment by brand-name private equity. The New Jersey Division of Investment recently demonstrated why it’s all about separate accounts. The state’s $75.2 billion pension system committed […]
Under intense public pressure to disclose more about the costs of private equity, the California Public Employees’ Retirement System has a harsh message for private equity firms that won’t share how much carried interest, or share of profits, that they collect. “Going forward, we will not do business with firms that refuse to provide this […]
Apollo Global Management is a profit-generating machine according to fresh data released by the California Public Employees’ Retirement System Tuesday. A single fund managed by the firm collected the highest individual carry payment, based on a breakdown of carry paid by CalPERS to active managers since inception. Apollo Credit Opportunity Fund I LP has received $298.9 million in […]
Rather than a traditional fundraise, you might say Warburg Pincus spent a few months arranging limited partner allocations to its latest flagship fund like a jigsaw puzzle. The requested commitment size of every LP in the fund, which recently closed with $12 billion in external commitments, was “cut back,” according to a person with knowledge […]
I met with an LP the other night for drinks at one of the fancy bars financial types frequent. We chatted about the state of the market, and as is usually the case, the LP wanted to compare notes about certain GPs. “What have you heard?” I usually get that question when an LP is […]
Allegis Capital led a $21 million venture capital round in Lucidworks, which provides tools for companies to create data applications. Additional investors in the funding included Shasta Ventures and Granite Ventures.
Sierra Ventures hired Jim Doehrman as its first operating partner. Doehrman, most recently chief financial officer at Xtime, will be responsible for providing operational guidance and corporate development strategy to portfolio companies. He also will focus on Sierra’s finance, investors relations, back office and marketing.
Palamon Capital Partners-backed The Rug Company, a handmade rug brand, appointed former Hunter Boot Chief Executive Officer James Seuss as CEO, effective Dec. 14, 2015. Current CEO Christopher Sharp, who founded the company with Suzanne Sharp, will remain as a non-executive board director. Seuss is joined by new non-executive board directors Marty Wikstrom and Tord Dyrssen. Palamon bought The Rug Company earlier this month.
Some secondary market participants questioned the fairness of CalPERS’ recent sale of a $3 billion real estate portfolio to Blackstone Group’s Strategic Partners division because the deal was brokered by Blackstone’s former placement agency. CalPERS told Buyouts that it ran a broad auction that had an independent review. Park Hill Group, which ran the sale for CalPERS, spun out of […]
Jeremy Weisberg, a former senior associate on Pantheon’s secondaries program, joined GIC recently, according to two people with knowledge of the move. Weisberg’s LinkedIn profile shows he joined the Government of Singapore Investment Corporation in October as an assistant vice president. Weisberg worked at Pantheon from December 2011 to October, prior to which he worked as […]
A major secondaries buyer is back in the market raising a pool expected to total $6 billion to $7 billion. AlpInvest Partners, owned by Carlyle Group, is in the market raising AlpInvest Secondaries Fund VI with a target of around $2 billion, according to two people with knowledge of the firm. The balance of the pool would come from contributions […]
Permira plans to bring its sixth flagship fund to market in the first quarter targeting up to 6 billion euros ($6.4 billion) with a 7 billion euros hard cap, according to three limited partners who have heard the pitch. Nothing is set in stone and targets and timing could change, the LPs said. However, London-based […]
Spencer Miller, managing director at OPTrust Private Markets Group who ran the London office, left earlier this year, a spokeswoman for the pension manager confirmed Monday. Miller was replaced by Morgan McCormick, a managing director who is now running the London office, the spokeswoman said. It’s not clear why Miller left or if he has taken […]
The Toigo Foundation announced its 2015 40 Under 40 — out of 650 individuals from 11 graduating classes of Toigo Fellows. Candidates are evaluated to identify finance and business professionals who show distinction in their careers and contributions to Toigo.
RetroSense Therapeutics raised $6 million in Series B funding to continue its goal of using gene therapy and optogenetics to restore vision. Investors in the funding round included existing investors BlueWater Angels and new investors RBV Capital, ExSight Capital and Santen Pharmaceutical Co. Earlier this year, RetroSense closed a $7 million Series A funding round, bringing total capital raised to $13 million. As part of the funding, Dmitry Kuzmin of RBV Capital, joined the RetroSense’s board.
KKR led a $50 million growth investment in GetYourGuide, an online marketplace for booking travel activities. Other investors in the funding included Spark Capital, Highland Capital Partners and Sunstone Capital, as well as new investor Nokia Growth Partners. KKR is funding the investment primarily from its balance sheet.
New Enterprise Associates led a $30 million investment in virtual reality gaming platform CCP Games. Novator Partners also participated in the funding. Harry Weller, general partner at NEA, will join CCP’s board. Andrew Schoen, also of NEA, will join as deputy director.