KKR eyes fourth quarter, early 2020 to launch next Asia fund

Kohlberg Kravis Roberts is on a roll when it comes to Asian private equity. The firm, which closed one of the largest-ever private equity funds raised to focus on Asia in 2017, could launch its next Asia-focused fund as soon as the fourth quarter, a source with knowledge of the firm told Buyouts. The firm […]

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Arsenal hires ex-Baird Capital healthcare exec Michael Bernstein

Arsenal Capital Partners hired Michael Bernstein to its healthcare team. Bernstein will join as an operating partner and focus on investments in outsourced business services, payers and care provision. Bernstein joins from Baird Capital Partners, where he was a partner leading the firm’s investments in healthcare since 2014. Prior to Baird, Bernstein worked for more than 20 years as president and CEO of various healthcare companies.

Kline Hill Partners, private equity, Michael Bego, venture capital
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Kline Hill preps launch of third fund

Kline Hill Partners, the small secondaries firm launched by a former Willowridge executive, is preparing its third fund as it continues its pace of steady growth, a person with knowledge of the firm told Buyouts. Kline Hill Partners III will target $425 million, the person said. The pool’s cap is not clear. Fund III will […]

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Equistone-backed CH&CO makes first add-on to Mitie Catering

Equistone Partners-backed CH&CO acquired Mitie Catering as its first add-on to its purchase of CH&CO in May 2019. Mitie is comprised of Gather & Gather and Creativeevents. The deal adds increased sales of 137 million pounds to CH&CO, 330 more sites across the U.K. and Ireland and an additional 3,600 team members to the company.

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Providence hires OpenView partner Adam Marcus

Providence Equity hired OpenView Venture executive Adam Marcus to work on its strategic growth team. Marcus is listed on the website, and has updated his LinkedIn profile. He joined Providence as a managing director in July, his profile said. Marcus worked at OpenView Venture Partners for almost 10 years, starting in 2009. Prior to OpenView, […]

Mark Hastings, Providence Strategic Growth
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Providence gears up to raise first Europe-focused growth fund

Providence Equity is preparing to launch its first European-focused growth fund that could raise up to 750 million euros ($835 million), two sources told Buyouts.  The fund, which would be invested by its growth team, Providence Strategic Growth, could begin raising the Europe fund later this year, sources said. It is expected to officially launch […]

Ares Management, Ares, Anthony Ressler
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Coller emerges as buyer on large Ares fund revamp

Coller Capital is a lead buyer on a secondary restructuring deal of an older Ares Management fund valued at more than $1 billion, three people told Buyouts. It’s not clear if Coller is sole lead buyer or part of a group. Bill Mendel, a spokesman for Ares, did not respond to comment requests. A spokeswoman […]

Houston, Texas, oil, gas, energy
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Quantum Energy collects $750 mln for debut structured-capital fund

Quantum Energy Partners has collected about $750 million for its debut structured-capital fund, which will provide financing to oil and gas companies, a person with knowledge of the firm told Buyouts.  The fund, called QL Capital Partners, could raise up to $1.5 billion, the person said. The group filed a Form D fundraising document in […]

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MIT’s The Engine leads $4 mln seed round in Cambridge Crops

The Engine, the VC group launched by MIT, led a $4 million seed funding in Cambridge Crops, which uses silk-powered technology to slow the exchange of gases that causes food decay. Other investors in funding round included Refactor Capital, Closed Loop Ventures, Bluestein & Associates, SOSV and Supply Chain Ventures.

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Carlyle agrees to provide 176 mln pound financing to Bowmark-backed Leaders Romans Group

Carlyle Group agreed to provide up to 176 million pounds ($213.8 million) in financing to Leaders Romans Group, a U.K.-based property services group owned by Bowmark Capital. Financing includes a 126 million pound senior secured term loan, 25 million pound acquisition facility and up to 25 million pound accordion acquisition facility. Carlyle provided the financing through its Carlyle Credit Opportunities Fund, which closed on $2.4 billion.

India, Canada, flag
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Brookfield, in record market, explores buying a secondary firm

Brookfield Asset Management recently explored buying a secondary-focused firm, three people with knowledge of the inquiries told Buyouts. The alternative asset management giant, which manages more than $365 billion, has shown interest in building secondaries functionality onto its platform, sources said. By buying a secondary firm, it would be following the trail blazed by Blackstone […]

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Ardian eyes North American-based companies with next buyout fund

Ardian is expanding its focus in the U.S. with its next upper-middle-market buyout fund that will give it flexibility for the first time to buy North American-based companies, sources told Buyouts. Ardian Buyout Fund VII is in market targeting $6 billion, sources said. Fund VII primarily targets Europe but also allows the firm to buy […]

General Atlantic, Blackstone, Justin Sunshine, private equity, healthcare
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Blackstone’s GSO runs fund revamp on older credit pools

Blackstone Group’s private credit group, GSO Capital, is working on a process to allow investors who are primarily in its 2005-vintage special situations fund to cash out of their interests in the pool, three sources told Buyouts. The secondary process would mostly involve GSO Special Situations Fund, a $3 billion distressed-focused hedge fund the group […]

private equity, Chris Witkowsky
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Co-investment opportunities, GP commitment help sway LPs on emerging funds

We had our annual emerging manager conference in late July. One interesting discussion focused on the appropriate commitment a new GP should make to his or her own fund. GP commitments generally fall in a range from 1 to 5 percent of total commitments, according to Buyouts Insider’s PE/VC Partnership Agreements Study 2018/2019. But when […]