Madison Dearborn Partners is working on a process to cash out investors from their exposure to portfolio company Asurion, while giving itself more time to manage the insurance provider for devices like cellphones, according to three people with knowledge of the deal. The process is the latest example of a high-profile GP singling out one […]
Secondary investor Lexington Partners today will announce the completion of a succession process that will promote Partner Wilson Warren to the role of president, sources said. Lexington Founder and Chairman Brent Nicklas is expected to announce the change Wednesday. Nicklas, 70, will step back into the role of non-executive chairman. He will continue to be a significant […]
Thomas Roberts, a former senior executive at Summit Partners, says a long-term investment strategy is a way to counter the gradually falling returns endemic to private equity in recent years. Roberts has just launched Equality Asset Management, which will raise a fund that will hold investments longer than traditional private equity. Roberts declined to discuss […]
Bernhard Capital is approaching final close on its second fund and has already raised more than its $1 billion target, according to a person with knowledge of the firm. Bernhard has been in market with Fund II since last year. It had raised close to $1 billion as of March, Buyouts reported. Metric Point Capital and […]
Jordan Co is exploring liquidity options for its second fund, and possibly its third fund, to enable existing investors to cash out, sources told Buyouts. Jordan Co, formed in 1982, would be another in a series of high-profile private equity managers using the secondary market to deliver liquidity to investors in its older funds. The […]
Leerink Capital Partners hired ex-Wilshire Private Markets executive Karl Beinkampen as president. Beinkampen worked as president and chief investment officer of Wilshire Private Markets from 2010 to 2018. Prior to Wilshire, Beinkampen worked at Morgan Stanley for 15 years. Leerink Capital Partners was formed in 2013 as a multi-strategy, healthcare-focused principal investing business.
GI Partners agreed to buy California Cryobank, a donor sperm and egg bank, and Cord Blood Registry, a stem cell collection and storage company. GI plans to combine the two companies, which will serve about 600,000 families across more than 30 countries. The combined deal is expected to close in the third quarter. The deal will be GI’s fifth platform investment from Fund V, which closed on $2.8 billion last year.
APG Asset Management is building up an in-house secondaries team to buy LP interests in funds and participate in GP-led liquidity processes, a spokeswoman confirmed for Buyouts. The shop, backed by Dutch pension manager APG, will enter a crowded market flush with capital for buying investor stakes in private equity funds. Another emerging player is […]
Providence Equity is running a process that would allow limited partners in its seventh fund to cash out of their interests in the pool, three sources told Buyouts. Around five buyers are competing in the process, known as a tender offer, one of the sources said. In such a process, a GP lines up a […]
I’m not used to people opening up about their feelings at private equity conferences. It’s tough to get too vulnerable in an environment of suits, mini-muffins and panels about terms and conditions and manager seeding. But that’s what happened at Buyouts Insider’s Family Office Connect event in New York last month. Suna Said, founder of Sima Capital, gave […]
A high-ranking executive from Linsalata Capital Partners who was tasked with raising the firm’s next fund has left and launched his own shop, according to a person with knowledge of the move. Gregg Taber formed Provariant Equity Partners, which is targeting $200 million for its debut fund, the person said. Taber updated his LinkedIn profile with his […]
Private equity advisor Hycroft is not shutting down, contrary to what several sources told Buyouts, according to a person at the firm who requested anonymity. Formed by Scott Myers in 2013, Hycroft has experienced a significant number of staff departures since last year. However, it continues to operate, working on several fundraising mandates and looking for deals around […]
Editor’s Note: A person from Hycroft who requested anonymity reached out to Buyouts after this story was published to say the firm is not winding down but would not provide specific details. Read our update post here. Call it the quiet shuttering of a fledgling private equity adviser. It appears that Hycroft, formed by Scott […]
Three big-name executives are in market raising their debut fund to invest in financial-technology entrepreneurs, sources said. Communitas Capital Partners Fund I is targeting $50 million, sources said. Fund I has raised at least $14.9 million, according to a Form D fundraising document filed in January. Communitas was formed in 2017 by Doug Atkin, Tom Glocer and Duncan Niederauer. Atkin […]
Three big-name executives are in market raising their debut fund to invest in financial-technology entrepreneurs, sources said. Communitas Capital Partners Fund I is targeting $50 million, sources said. Fund I has raised at least $14.9 million, according to a Form D fundraising document filed in January. Communitas was formed in 2017 by Doug Atkin, Tom […]
Sentinel Capital Partners sold RotoMetrics, which provides rotary cutting tools and products. It’s not clear who is buying St. Louis, Missouri-based RotoMetrics. Terms of the deal were not disclosed.
Carlyle Group completed the acquisition of Accolade Wines, which owns a portfolio of more than 50 brands. Carlyle invested in the Australia-based company from Carlyle Asia Partners IV. Ari Mervis, former CEO of Murray Goulburn, will become executive chairman in August.
Mill Point Capital closed its debut fund on $450 million for investments in middle market companies in business services and industrial sectors. Fund I hit the market in October. Mill Point was formed by Michael Duran, who spent 13 years working at Ripplewood Holdings.