Morgan Stanley, restaurant, airport, private equity, merger, M&A, Hojeij Branded Foods

Morgan Stanley Capital scores 30-40 pct IRR on sale of airport restaurant chain

Morgan Stanley Capital Partners, the investment bank’s in-house middle-market buyout group, reaped a return of between 30 and 40 percent on its sale of airport restaurant company, Hojeij Branded Foods, a source told Buyouts. Morgan Stanley this week said it sold Hojeij Branded Foods to Lagardère Travel Retail for $330 million. The group acquired a majority […]

Avenue Capital, private equity

Avenue Capital explores revamp of a special-situations fund

Avenue Capital is working on a process to deliver liquidity to investors in its second European special situations fund, which closed on $2.8 billion in 2012. The deal, which is not finalized, is another example of a high-profile manager exploring options on the secondary market for older funds. Avenue is working with Park Hill Group […]

Graticule Asset Management Asia, Andrew Berman, Fortress Investment Group, private equity, hedge fund
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Ex-Fortress executive Andrew Berman eyes $500 mln for debut fund

Andrew Berman, a former credit executive with Fortress Investment Group, is gearing up to raise a private equity-style credit pool with a hedge fund shop he joined last year, sources told Buyouts. Berman is eyeing $500 million for his first credit opportunities fund with Graticule Asset Management Asia, sources said. He will be joined on […]

Sam Loughlin, Paceline Equity Partners, Lone Star Funds
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Former Lone Star Funds exec targets over $1 bln for first-time fund

Everything is bigger in Texas, even debut funds. Paceline Equity Partners, founded by Samuel Loughlin, the former head of North American investments at Lone Star Funds, is targeting $1.25 billion for its debut fund, a person with knowledge of the firm told Buyouts. The Dallas-based firm will make special situations investments in private equity, corporate debt […]

David Grain, Grain Management, telecommunications
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Grain targets $750 mln for next telecom fund

Grain Management, a shop formed in 2007 to pursue investments in communications, is in the market with its fourth investment pool targeting $750 million, three people with knowledge of the firm told Buyouts. Grain Communication Opportunities Fund II launched earlier this year. A Form D was filed in May that did not include a target […]

ArcLight, energy, oil and gas, private equity
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ArcLight explores secondary process on older fund

ArcLight Capital Partners is exploring a secondaries process on one of its older funds as it works to raise its seventh energy and power-focused pool, sources told Buyouts. ArcLight is one of several energy-focused GPs considering a secondary market sale to give investors in older funds the option to cash out of their interests while […]

345 Views

Versa closes sale of Bell and Howell to WestView

Versa Capital Management closed the sale of Bell and Howell, which provides technology services to enhance ecommerce experiences, to WestView Capital Partners. Versa acquired Bell and Howell in 2011 and last year sold two of the company’s divisions.

CenterOak Partners, Brazos Private Equity, private equity, fundraising
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Brazos spinout CenterOak launches sophomore fund

CenterOak Partners, a spinout from Brazos Private Equity, is in market with its second fund, targeting around $700 million, three sources told Buyouts. Whether CenterOak is using a placement agent is unclear. The firm worked with Credit Suisse on its debut fundraising. CenterOak closed Fund I on $420 million in 2016. A spokesman for CenterOak […]

Fifth Street Management, Leonard Tannenbaum, Oaktree Capital, SEC, law, securities, private equity, business development company
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Once high-flying BDC manager Fifth Street gets SEC slap

It’s perhaps anti-climactic, but the SEC just settled with Fifth Street Management, a once high-flying BDC manager whose fortunes collapsed on some bad investments. But the SEC is alleging more than just bad bets. The agency said Dec. 3 that it censured Fifth Street for allegedly overvaluing certain portfolio investments held in a business development […]

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Deal of the Year Awards

It’s that time again. The days are shorter. The temperature is dropping. And Buyouts is now accepting nominations for its 19th annual Deal of the Year awards, honoring exceptional buyouts that were fully or mostly realized in 2018. The deadline for submissions is Friday, Feb. 22, 2019, but there’s no time like the present to apply.

VCJ September 2018 Cover Cybersecurity Supplement
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Larger funds, specialization big fundraising trends for 2019

Here is the private equity fundraising market as 2018 comes to a close: Managers are coming back earlier than expected and doubling or tripling fund sizes beyond what they’ve raised in the past. Limited partners are more than happy to pour money into their most-favored managers, enabling them to raise much more money than before. […]

Eos Partners, private equity,
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Eos Partners completes broad fund restructuring, raises bridge fund

Eos Partners completed a broad restructuring process that transferred assets from its third and fourth funds into a new vehicle that gives the firm at least five more years to sell the investments, sources told Buyouts. The deal also involved creating a $75 million bridge fund, providing the firm capital to invest prior to raising […]

Koch Industries, Eaglehill Advisors, private equity, Mike Zicari, Jason Cunningham
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Koch-backed lender Eaglehill explores options after co-founder leaves

Two Citigroup bankers in 2014 formed a private lending shop that got big backing from Koch Industries in the form of a $100 million commitment to the firm’s debut fund. That firm, Eaglehill Advisors, is now exploring strategic options after one of the founders, Mike Zicari, resigned in March for undisclosed reasons, according to Eaglehill’s […]

Middle Ground Capital, Monomoy Capital Partners, private equity
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Monomoy spinout MiddleGround gets anchor backing from Moelis joint venture

MiddleGround Capital, a spinout from Monomoy Capital Partners, got a helping hand as it raises its debut fund. The firm received anchor backing from Archean Capital Partners, a joint venture of Veritable and Moelis Asset Management. MiddleGround is targeting $350 million for its first-time fund for investments in lower-middle-market business-to-business industrial companies in North America, Buyouts reported. […]