Graphite Capital acquired Random42, a medical animation producer, from Vespa Capital. Graphite senior partners Andy Gray and Markus Golser worked with Partner Humphrey Baker on the transaction, with support from Liam McGivern, John Western and Sophie Davies.
One Equity Partners agreed to sell Chicago-based East Balt Bakeries, which supplies buns and artisanal rolls to restaurant chains, to Grupo Bimbo for $650 million. The deal is expected to close in the second half of 2017. East Balt employs 2,200 workers who produce 13 million specialty bread products daily, including bagels, biscuits, buns, English muffins and tortillas.
KKR, along with Altamar Capital Partners and Deutsche Finance Group and residential real estate firm Elix, formed Elix Vintage Residencial Socimi, a platform to invest 100 million euros in the Spanish residential real estate market. The platform aims to invest its capital within the next three years to create a portfolio of residential assets that will be refurbished and rented, mainly located in Madrid and Barcelona.
I spent a few hours recently trying to track down information about EnCap Investments through its SEC filings. After coming up empty handed, I came to learn that EnCap is an “exempt adviser,” meaning it doesn’t have to fill out Form ADV Part 2A, the detailed brochure that most registered advisers file with the Securities and […]
New Enterprise Associates led a $50.5 million Series C funding round in late-stage clinical development company Trevi Therapeutics, Inc. Other investors in the funding round include Lundbeckfonden Ventures, Omega Funds and Aperture Venture Partners, along with the company’s largest investor, TPG Biotech.
Summit Partners closed its second Europe Growth Equity fund on 700 million euros ($806.9 million), reaching its hard cap. Summit targets equity investments of 20 million euros to 60 million euros in companies across Europe.
Yellow Wood Partners, a middle-market investor based in Boston, is near a final close on its second fund, according to a person with knowledge of the fundraising. Fund II is expected to close on $360 million around the end of the month, the person said. Park Hill Group is working as placement agent. The fund had […]
Avista Capital Partners is near wrapping up a multifund sale of limited-partner interests that includes a shot of fresh capital into its pending fourth pool, two secondaries-market sources told Buyouts. Coller Capital is leading an investor group that is buying fund interests from existing investors, one of the sources said. The pricing of the tender […]
Some firms have attempted to delay settling with the SEC on enforcement issues as the agency transitions to new leadership, said David Glockner, director of the Chicago regional office. Buyouts reported in April that some GPs were delaying settlements with the SEC to gauge just how tough the new leadership was going to be on […]
Perhaps the biggest challenge LPs face in today’s bullish fundraising market is dealing with their preferred GPs coming back with new, larger funds earlier than expected, with scant realizations in prior funds to prove out a track record. The GP, without much proof of concept in the prior fund because of few or no exits, […]
Blackstone Group’s minority investment in Leonard Green & Partners represents a payout for around 30 professionals at the firm, sources told Buyouts. The minority deal, for a less than 15 percent stake in the management company, was structured as a secondary investment, two sources said. This means the firm is buying equity from existing private […]
Panda Power Funds, an energy-focused firm formed in 2010, is in discussions with its fund LPs on the firm’s future, including exploring ways for investors to exit the funds, three people with knowledge of the firm told Buyouts. What form the liquidity option could take is unclear. One option is a fund restructuring, sources said. […]
Sanjay Gupta, head of U.S. fund investing at Caisse de depot et placement du Quebec, has left the organization after about two years. Gupta is no longer listed on the website, his email no longer works and his direct phone line is disconnected. Jean-Benoit Houde, spokesman for Caisse, declined comment. Gupta did not respond to […]
GTCR, the Chicago growth investor, could raise its largest fund in one of the strongest fundraising markets to date after a run of strong performances. The firm is in market with Fund XII seeking up to $5 billion or more, according to three limited partners who have heard the fundraising pitch. A fundraising filing with […]
Limited partners are scrutinizing private equity minority-stake sales as part of due diligence into funds to which they are considering committing, according to a panel of LPs and consultants at an industry conference in late June. Such sales have been on the rise in the past few years as several firms have raised funds specifically to […]
The private equity world has always seen some angry junior partners, and sales of minority stakes by GPs aren’t driving them to leave their firms, said Michael Rees, head of Dyal Capital Partners. Rees, speaking at PartnerConnect Midwest in Chicago on June 27, was attempting to dispel the idea that junior partners at firms that sold stakes […]
Earlier this year, Harvard’s $37.6 billion endowment was reported to be seeking to sell up to $2.5 billion in private equity and real estate funds as it consolidated its portfolio and restructured its team. This came on top of Ardian’s $2.5 billion investment in Mubadala Capital, the investment group of Abu Dhabi sovereign fund Mubadala Development. […]
While transaction activity on the secondary market this year has been strong, one area of the business has grown more challenging: Fund restructurings are tougher to complete, at least as initially intended. Restructurings generally give LPs in older private equity funds the choice to sell or roll with the manager into new vehicles created to […]