Ohio, Midwest, sign

Ohio teachers’ pension eyes sale of $1 bln-plus worth of PE stakes

State Teachers Retirement System of Ohio is selling a portfolio of private equity stakes valued at more than $1 billion, three sources told Buyouts. It’s not clear what’s in the portfolio. One source described it as mixed assets and tail-end funds (which refers to funds that are mostly cashed out with only a few assets left […]

Daniel Benin, Committed Advisors, private equity
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Committed Advisors targets €1.25 bln for mid-market secondaries

Committed Advisors, a mid-market secondary shop formed in 2010, is targeting €1.25 billion euros ($1.4 billion) for its fourth fund, a person with knowledge of the firm told Buyouts. The firm was launched by ex-AXA PE (now Ardian) executives Daniel Benin and Barthélémy de Beaupuy in 2010. It generally invests €40 million to €80 million […]

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Oak Hill raises $2 bln toward $3 bln Fund V target

Oak Hill Capital, which just closed its fourth fund in 2017, has raised about $2 billion for its next flagship vehicle, sources told Buyouts. Oak Hill Capital Partners V is targeting $3 billion, one of the sources said. It recently held a first close on $2 billion, and could hold a final close by summer, […]

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Lion Capital acquires DMC Group from BlueGem Capital

Lion Capital acquired Crafts Group (DMC Group), comprising a portfolio of European needlecrafts brands, from BlueGem Capital Partners. Brands include DMC, Wool and the Gang, Sirdar and Tilsatec. In 2018, DMC Group generated more than 90 million euros of sales across more than 100 countries.

Oaktree Capital Group, private equity
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Oaktree eyes restructuring process for 2009 special-situations fund

Oaktree Capital Group is working on a process for its 2009 special-situations fund that would allow investors to cash out, four sources told Buyouts. The process is seen as a test case for Oaktree, which has many funds, and could lead to the firm working on additional secondary processes, sources said. Another source downplayed that […]

GIC, Singapore, private equity, merger, m&a, secondary investment
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GIC, perennial seller, set to shop another billion-dollar PE portfolio

Singapore’s state fund, GIC, is shopping a portfolio of private equity fund interests valued at about $1 billion, sources told Buyouts. GIC is one of numerous large institutions selling PE portfolios on the market since last year. Others include Florida SBA, LACERS, Public Sector Pension Investment Board and Ontario Teachers’ Pension Plan. Such sales helped […]

Energy & Minerals Group, mining, oil and gas, energy, private equity, merger, m&a
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Energy & Minerals Group explores potential biggest-ever secondary deal

There’s a whale moving through the private equity secondary market. Energy & Minerals Group is working on a secondary process that could be valued between $4 billion and $5 billion, multiple sources told Buyouts. If completed at that valuation, the deal would be the largest ever in the secondary market. One of the largest so far, […]

Ardian, Blackstone Group, Public Sector Pension Investment Board, Canada, private equity, pension fund
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Ardian, Blackstone take down $1 bln-plus PSP portfolio

Ardian is buying the bulk of a large portfolio of private equity stakes shopped by Canadian institution Public Sector Pension Investment Board, while Blackstone Group’s secondary team is picking up a few individual fund interests from the sale, sources told Buyouts. The PSP portfolio is one of numerous large LP deals in the market since […]

Accel-KKR, private equity
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Accel-KKR considers liquidity options for 2008 fund

Accel-KKR is considering running a liquidity process on its 2008 third fund, which has three remaining companies, sources told Buyouts. The firm, if it brings a process to market, would be one of numerous high-profile private equity shops turning to the secondary market to deliver liquidity to investors in older funds and find ways to […]

KKR, Kohlberg Kravis Roberts, Alex Navab, private equity
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Ex-KKR exec Navab could target up to $4 bln for debut

Alex Navab, a former high-ranking leader at Kohlberg Kravis Roberts, may have lofty ambitions for his debut fund. Navab, who left KKR in 2017 after a leadership succession left him out, could target up to $4 billion for his debut, sources told Buyouts. He’d be one of several big-name executives to leave their firms and […]

private equity, pension fund, small business, SBA, SBIC

Editor’s Letter: Secondaries hit another milestone in 2018

Every year the secondary market seems to hit another milestone. Last year will be known as the one in which the “7” number was broken. Estimated secondary market deal volume in 2018 vaulted $70 billion, according to two surveys published Jan. 24 by Evercore and Setter Capital. That would be the highest level ever in the […]

Olivier Sarkozy, Carlyle, private equity, financial services, University of California, endowment
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UC Regents anchors ex-Carlyle exec’s debut fund

Further Global, launched by Carlyle Group’s former financial-services chief, early in its debut fundraising got a big vote of confidence from a well-known endowment. University of California’s endowment pledged $200 million to Further Global’s debut fund, targeting $1.25 billion for investments in financial services. The ex-Carlyle financial services executive Olivier Sarkozy left the megashop in 2016 and […]

Johns Hopkins, endowment, private equity, Jim Steinbugl, Penn State University
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Johns Hopkins investment officer joins Penn State endowment

Jim Steinbugl, an investment officer who worked on private equity and other asset classes at Johns Hopkins’s endowment, joined Penn State University’s endowment on Jan. 14. Steinbugl will focus on investments across asset classes with a concentration on real estate and natural resources, a source said. He worked at Johns Hopkins endowment for more than 12 […]

Johns Hopkins, private equity, endowment
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Johns Hopkins endowment shopped a PE portfolio in ’18

Johns Hopkins’s endowment fund was shopping a portfolio of private equity fund stakes after a new chief investment officer took over the program, three sources told Buyouts. The portfolio, valued at up to $500 million, was on the market last year, sources said. It’s not clear whether the portfolio traded or the endowment pulled it […]

Milestone Partners, private equity
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Milestone hires Park Hill for liquidity process

Milestone Partners, a lower-middle-market firm, hired Park Hill Group to help run a process that would enable investors in the firm’s older funds to cash out of their interests, three sources told Buyouts. The Radnor, Pennsylvania, firm had been exploring a potential secondary process for a while and was interviewing advisers, sources previously told Buyouts. […]