Beverly Berman, a longtime investor-relations professional, is retiring from Thomas H. Lee Partners in the coming weeks, a person with knowledge of the situation said. Managing Director Greg White will remain head of IR at THL, while Principal Tyler Griffith, who joined the firm in 2010 and has worked on the IR team for several years, […]
AlpInvest Partners led a $260 million capital infusion in Stagwell Group, the investment firm launched by ex-Bill Clinton adviser Mark Penn, as part of a secondary process, the firms confirmed Tuesday. Buyouts exclusively reported this month that AlpInvest was lead investor on the transaction. AlpInvest appears to have completed the deal on its own and was […]
Two ex-CEOs of Hammond, Kennedy, Whitney & Co joined with other partners to form a fundless firm targeting the smallest end of the market. Monument MicroCap Partners comes as more private equity executives choose to launch fundless firms that source capital from select groups of investors. Partner Roy Whitney and Managing Partner Glenn Scolnik launched Monument MicroCap […]
Peak Rock Capital agreed to buy TNT Crust business, which makes pizza crusts, from Tyson Foods. The transaction is expected to close in September 2018. The deal is Peak Rock’s seventh recent food and beverage investment, including Sweet Harvest Foods, a producer of honey; Berner Food & Beverage, which makes dairy-based snacks and beverages; and Diamond Crystal Brands, which makes portion control and single-serve food and beverage products.
Gryphon Investors completed the sale of Washing Systems to Kao Corp, which provides cleaning solutions and hygiene management. Financial terms weren’t disclosed. Gryphon initially invested in Washing Systems in Dec. 2015.
Riverwood Capital is targeting $1.25 billion for its third flagship fund and $250 million for a sidecar focused on investments in Latin America, according to a person with knowledge of the firm and SEC filings. The total capital is $1.5 billion. Riverwood Capital Partners III and Riverwood Capital Partners LatAm are in market now and […]
Two members of the private-markets team at DuPont Capital Management, Kevin Campbell and Eric Wilcomes, have left the group, a DuPont spokesman confirmed for VCJ’s affiliate publication Buyouts. Campbell was managing director of the private-markets team for the company’s private pension fund. Wilcomes was a portfolio manager on the team. Why they left or whether anyone […]
Two members of the private-markets team at DuPont Capital Management, Kevin Campbell and Eric Wilcomes, have left the group, a DuPont spokesman confirmed for Buyouts. Campbell was managing director of the private-markets team for the company’s private pension fund. Wilcomes was a portfolio manager on the team. Why they left or whether anyone is stepping […]
Secondaries get done in the smallest end of the market, though such deals usually fly under the radar. One such recent deal involved Larsen MacColl Partners, a small investment shop in Wayne, Pennsylvania. The firm completed a process enabling investors in its 2008 debut fund to cash out their stakes in the pool, sources said. […]
Scout Energy Partners closed its fourth fund on its $500 million hard cap and has already deployed around 80 percent of the pool, sources told Buyouts. Fund IV closed in July, sources said. At its current deployment level, Scout expects to come back to market with Fund V later this year, sources said. It’s unusual […]
Jordan Co raised about $3.2 billion in a recent third close, hitting the target on its fourth fund, according to an investor letter seen by Buyouts. Fundraising is substantially complete, according to an LP with knowledge of the fund. When Fund IV will hold a final close is unclear. Resolute Fund IV was set for a final […]
Among the toughest things a GP can do is go out and ask people for money. And that is the challenge first-time managers have when raising a fund. GPs are deal people and fundraising for a new fund could be a slog, said Jeff Gendel, principal in business development with Gen II Fund Services, a […]
AlpInvest Partners is lead investor in a liquidity process by Stagwell Group, the investment firm formed by ex-Bill Clinton adviser Mark Penn, sources told Buyouts. It’s not clear if AlpInvest is leading a consortium or working alone. Chris Ullman, spokesman for Carlyle Group, which owns AlpInvest, declined to comment. Stagwell is looking to cash out […]
Doug Sutton leads Huron Capital’s new Flex Equity Fund, which invests in non-control deals in the lower-middle market. Flex Equity Fund closed on $142 million in April. Sutton chatted with Buyouts on the strategy. 1. How did the idea for the Flex Fund come about? There were multiple factors that went into creating the new fund. […]
Oncap, Onex’s middle-market private equity platform, postponed the launch of a small-cap platform called Oncap Growth after the senior executive focused on the effort decided to leave the firm, according to a note to investors seen by Buyouts. “In light of this new development, we are deferring our plans to launch Oncap Growth, our small-cap […]
Revelstoke Capital Partners made a growth investment in DataLink Fund Solutions, which provides integrated health management applications. The investment is Revelstoke’s second investment in Revelstoke Capital Partners Fund II.
Bowmark Capital sold Nexus Vehicle Rental, a corporate vehicle rental provider, to Phoenix Equity Partners for 142 million pounds. The sale generated a 3x cost return for Bowmark. Bowmark acquired the company in 2015.
Industrial Opportunity Partners acquired SignResource, LLC, which designs and makes signage and brand identification for various industries, as part of a holding company the firm formed called SRR Holdings. SRR owns SignResources and Royston LLC, which IOP acquired in March. SignResource and Royston will collaborate but remain independently operated businesses under the SRR Holdings umbrellas. Terms of the deal were not disclosed.