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 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 […]
Lexington Partners led a deal to deliver liquidity to limited partners in TPG Asia Fund V and VI in a deal valued at about $1 billion. Lazard worked as secondary adviser on the transaction.
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 […]
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 […]
Clearlake Capital Group completed its acquisition of symplr, which provides a software-as-service platform for the healthcare industry, from Pamlico Capital and CapStreet Group. The company will continue to be led by CEO Rick Pleczko and CFO Tres Thompson.
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 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 […]
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, 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 […]
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 […]
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.
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. […]
A firm I’ve been tracking for a few years, Dunes Point Capital, appears to be heading for final close on its debut institutional fund, possibly by January, a source tells me. Dunes Point II is targeting $600 mln with a $650 million cap. Check out my story here. The Rye, New York, firm was launched […]
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 […]
Webster Capital-backed Discovery Behavioral Health, a behavioral health provider, acquired Ambrosia Treatment Center NJ. Ambrosia provides addiction treatment to patients from the greater Philadelphia and southern New Jersey areas. Ambrosia will operate under the name Pinelands Recovery Center of Medford.
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 […]
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. […]