Calpers, California Public Employees Retirement System, BlackRock, private equity, pension fund
430 Views

Editor’s Letter: No break on the pref in capital-call subscription lines

Capital-call subscription lines is one of the most talked about issues in the industry this year. This is because many firms have now adopted the practice, ostensibly to smooth the capital-call process, with the peripheral effect of juicing a fund’s IRR and, as some LPs have described it to me, artificially getting a manager closer to […]

Apax Partners, technology, private equity
303 Views

Apax raises $1 bln for tech growth investments

Apax Partners raised $1 billion for its debut tech fund, holding a first close on the fundraising, the firm told limited partners in a recent letter. The U.K.-based firm is one of several raising money to make growth investments in the tech sector, including fellow U.K. buyout shop Permira, which is talking to LPs about […]

138 Views

Summit hires former IQNavigator CEO Joe Juliano into Executive-in-Residence program

Summit Partners hired Joe Juliano, former president and CEO of IQNavigator, into its Executive-in-Residence program. Juliano will work closely with Summit’s technology team to identify opportunities in enterprise application software companies. Juliano previously was president of RedPrairie, which provides supply chain and workforce management software.

332 Views

SunTx Capital acquires majority stake in Freedom Truck Finance

SunTx Capital Partners acquired a majority interest in Freedom Truck Finance, which provides dealer-based financing for trucks and trailers. The company was founded by Blake Bozman, Scot Foith, Brad Reeves, David Leventhal and Mike Reeves. Bozman, Foith and Reeves previously created, build and sold Drive Financial Services to Santander for $800 million.

Cove Hill Partners, Bain Capital, Andrew Balson, private equity
1179 Views

Cove Hill closes debut fund, with long duration, on more than $1 bln

Cove Hill Partners, the firm launched by former Bain Capital executive Andrew Balson, closed its debut, longer duration fund on more than $1 billion for consumer and technology investments, sources told Buyouts. Cove Hill Partners Fund I held a so-called one-and-done final close at least 18 percent above its original target of $850 million, sources […]

Real Desrochers, Calpers, pension fund, private equity, CITIC Private Equity

Ex-CalPERS PE chief Desrochers joins Asia’s CITIC PE

Real Desrochers, former private equity chief at California Public Employees’ Retirement System, joined CITIC Private Equity Funds Management Co as a managing director, according to sources. Desrochers updated his LinkedIn profile recently to indicate he started in the new role in April. It’s not clear exactly what Desrochers will focus on or whether he is relocating […]

Real Desrochers, Calpers, pension fund, private equity, CITIC Private Equity
607 Views

Ex-CalPERS PE chief Desrochers joins Asia’s CITIC PE

Real Desrochers, former private equity chief at California Public Employees’ Retirement System, joined CITIC Private Equity Funds Management Co as a managing director, according to sources. Desrochers updated his LinkedIn profile recently to indicate he started in the new role in April. It’s not clear exactly what Desrochers will focus on or whether he is relocating […]

Apax Partners, technology, private equity
274 Views

Napier Park’s fintech team targets $250 mln for Fund II

Napier Park Global Capital, an alternative-assets firm with $8.3 billion of assets, has a small team that focuses on growth investments in up-and-coming financial-technology companies. That group, Napier Park Financial Partners, is in market with its second fund targeting $250 million, a small fund but quadruple the size of its debut pool, which raised about $60 million. […]

Permira, technology, private equity, Brian Ruder
534 Views

Permira gears up to launch debut tech growth fund targeting up to $2 bln

Permira is talking to limited partners about launching its debut tech growth fund, which is expected to target $1.5 billion to $2 billion, according to LPs with knowledge of the situation. The firm is one of several that have launched growth vehicles and pools focused on smaller tech investments, including Thoma Bravo, Apax Partners and Aquiline […]

Southern Cross Group, private equity
919 Views

LatAm-focused Southern Cross explores options as largest fund struggles

Southern Cross Group raised its largest fund for Latin America investments a few years before economic and political turmoil rocked Brazil, the region’s largest economy. The firm in 2010 closed its fourth fund on $1.68 billion, well above target, raising capital during a fundraising bull market in the region. Many investments in Brazil made at the […]

Calpers, California Public Employees Retirement System, BlackRock, private equity, pension fund
199 Views

Editor’s Letter: GPs push for deal-by-deal carry in record fundraising market

In today’s record-breaking fundraising market, GPs are negotiating hard to get terms they like. One of those is to ensure they get paid after exiting each investment in their fund, rather than waiting until the LPs get paid back before they can start collecting profits. In other words, GPs are pushing for deal-by-deal carried-interest-distribution structures […]

Capital Dynamics, SEC, law, securities, private equity
318 Views

Capital Dynamics to pay $275K penalty to settle SEC charges

Capital Dynamics, an investment firm with about $2.8 billion under management, settled with the SEC over improper allocation of fees and expenses to its U.S. Solar Energy fund, according to agency documents. The settlement, made public earlier this month, required Capital Dynamics to pay a $275,000 civil penalty. The firm also reimbursed limited partners in […]

University of California, pension fund, private equity, Michele Cucullu, Bayshore Global Management, Sergey Brin, Google

University of California PE director Cucullu leaves system

Michele Cucullu, director of private equity at the University of California, has left the system, according to a person with knowledge of the situation. The person said Cucullu is joining Bayshore Global Management, the family office of Google Co-Founder Sergey Brin. That could not be confirmed. Cucullu is no longer listed on the staff chart on the UC Regents website. […]

University of California, pension fund, private equity, Michele Cucullu, Bayshore Global Management, Sergey Brin, Google
500 Views

University of California PE director Cucullu leaves system

Michele Cucullu, director of private equity at the University of California, has left the system, according to a person with knowledge of the situation. The person said Cucullu is joining Bayshore Global Management, the family office of Google Co-Founder Sergey Brin. That could not be confirmed. Cucullu is no longer listed on the staff chart on […]

270 Views

Gryphon closes debut mezz fund on $100 mln cap

Gryphon Investors held a first-and-final close on $100 million for its debut mezzanine fund Gryphon Mezzanine Partners that will be managed by Gryphon’s existing team. Commitments came mostly from existing limited partners. The mezzanine fund will participate exclusively on a minority basis in the mezzanine securities of recent and prospective financings of Gryphon 3.5 and Gryphon IV.