David Li, head of the Asia-Pacific region for Warburg Pincus, left the firm, a spokeswoman confirmed. Li resigned last month, a source said. He left to form his own company, Warburg said in a statement. He has been replaced by Julian Cheng and Frank Wei, who were appointed co-heads of China and members of the executive management […]
Christopher Whalen, a longtime managing director at Harvest Partners, has left the firm and joined new firm Gamut Capital Management. Whalen changed his LinkedIn profile to reflect the move, which said he joined Gamut in January. Whalen did not respond to a voicemail left for him at Gamut’s office. He is no longer listed on […]
Several limited partners question why Coller Capital’s Chief Executive Officer Tim Jones is leaving his position so shortly after the firm announced the closing of its seventh fund at $7.15 billion in early January. The secondary buyer said it didn’t learn until last month of Jones’s decision. However, some LPs and other market sources still wonder whether the firm knew of Jones’s impending departure […]
The Institutional Limited Partners Association is attempting to boost transparency with a reporting template that will capture fees, expenses and carried interest collected by the GP.
The Quadrangle Group went to market last year to consider various options for its aging second fund, which was set to expire at the end of 2015. With all the liquidity tools on the table, including a potential restructuring, the firm eventually came to agreement with the Fund II limited partner advisory committee on a “regular […]
Fireglass, a cyber security company, raised $20 million in Series A funding. Norwest Venture Partners, Lightspeed Venture Partners, Singtel Innov8, Mickey Boodaei and Rakesh Loonkar participated in the funding.
Adams Street Partners has hired two former Oaktree Capital Management executives to set up a private credit unit to take advantage of the “secular trend” of banks retreating from mid-market lending. Adams Street, based in Chicago with $27 billion of assets under management, hired Bill Sacher and Shahab Rashid to build the private credit platform. Sacher […]
Leonard Green & Co. hired a fund formation lawyer from Debevoise & Plimpton as its general counsel, sources said. Andrew Goldberg joined Leonard Green in January, according to the sources. Goldberg’s LinkedIn profile confirms he joined the firm in January. He is not yet listed on the firm’s website. Goldberg worked with Leonard Green on formation of […]
As we take this issue to press, the financial world is spiraling into a vortex of pessimism. The markets have been battered on various concerns, primarily a downturn in China. Oil and gas, which has been such a big driver of economic growth in the United States, is a shambles as overproduction and falling demand, especially […]
Lightyear Capital agreed to sell Clarion Partners Holding, a real estate investment firm, to Legg Mason, Inc. The deal is expected to close in the second quarter. Clarion’s management team will stay with the firm.
Kohlberg Kravis Roberts formed a partnership with China Orient Asset Management and China Orient Summit Capital to co-invest in credit and distressed opportunities in the Chinese market. The platform combines COAMI and COS Capital’s deal sourcing and asset management experience in China, and KKR’s investment experience globally and in Asia.
Prudential Financial and LeapFrog Investments have formed a $350 million partnership to invest in Africa. The partnership, to be managed by LeapFrog, will invest in life insurance companies in African countries, including Ghana, Kenya and Nigeria, over three-to-five years.
Guardian Capital Partners acquired the assets of Wichita, Kansas-based Hyper Pet, which makes dog toys, pet collars and leashes and other products. PNC Bank provided a senior loan facility and Centerfield Capital Partners provided subordinated debt and equity for the transaction.
IVP led a $30 million Series C funding round in Qubole, which provides a cloud-based big data platform. Existing investors CRV, Lightspeed Venture Partners and Norwest Venture Partners invested into the funding round. IVP General Partner Somesh Dash will join Qubole’s board of directors. The company has raised a total of $50 million to date.
Qiming Venture Partners promoted six people, including Peter Yin Ming, Stella Zhou Lingfei, Shiyu Wang and Jay Yin Jie to principal. The firm also promoted Jason Huang Yu to vice president and Holan Lam Ho Man to financial controller.
In the spirit of recent comments by one of its senior executives, Australia’s sovereign wealth fund Future Fund sold a portfolio of private equity stakes valued at more than $1 billion, according to three people with knowledge of the deal. The buyer was Canada Pension Plan Investment Board (CPPIB) and the deal closed late last year, the people […]
Leonard Green & Partners boosted the target on its seventh fund to $8.5 billion and set a hard cap at $9.1 billion, according to three people with knowledge of the fundraising. The firm sent an email to limited partners recently announcing the larger fund size and explaining it is meant to make more room for limited partners, […]
Steve Moseley, senior portfolio manager focusing on private markets at the Alaska Permanent Fund Corp, was promoted to director of investments, private equity and special opportunities, a spokeswoman confirmed. The promotion was effective January 15, the spokeswoman said. Moseley will continue overseeing private markets, but will add special opportunities, which includes a mix of various […]