Photo of Barry Volpert sourced from Crestview's website

Crestview may target $3.5 bln for Fund IV: updated

Crestview Partners is talking to limited partners about its next flagship fund, which could target $3.5 billion but could seek more than that, sources told Buyouts. No target or cap has officially been set and the numbers could change, sources said. One LP said the fund could raise closer to $4 billion. It’s not clear when Crestview will […]

Photo of Eric Saucedo courtesy of Tricap
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Tricap Partner Eric Saucedo unexpectedly dies

Eric Saucedo, a partner at Tricap Partners & Co, died unexpectedly on Jan. 5, Diane Sanchez, partner at the firm, confirmed for Buyouts. Saucedo, who was 52, took his own life, according to his brother, Christian Saucedo. He battled with depression for many years, Christian said. Saucedo worked at Tricap for 13 years, joining in […]

Photo courtesy of Ron_Thomas/E+/Getty Images
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Cleantech investor NewWorld Capital winding down business

Private equity firm NewWorld Capital Group, formed in 2009 to invest in environmental services including clean energy, waste management and other related markets, is winding down its business. The New York-based firm decided last summer to wind down after meeting with limited partners about raising its first institutional fund, targeting $300 million or more, said […]

Photo of Sean Giese sourced from LinkedIn
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TCV’s Sean Giese joins KKR tech spinout True Wind

Sean Giese, a longtime principal at Technology Crossover Ventures, has left the firm to join technology-focused True Wind Capital as a principal. Giese spent more than a decade at TCV, according to his LinkedIn profile. Among the tech investments he worked on were Actifio, Cradlepoint, Datto, ExtraHop, Fuze, GoDaddy and Twilio, according to True Wind’s […]

Vista Equity, private equity, Robert Smith
790 Views

Vista eyes launch of next flagship fund this year

Vista Equity Partners has quickly deployed about three quarters of its sixth fund and will likely start to raise its seventh this year, three sources told Buyouts. It’s not clear when Fund VII will hit the market. One source said the fund could hit the market as early as the first quarter. Other sources said they […]

Photo courtesy of Wikimedia Commons
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Gores small-cap senior exec Otley leaves firm

Victor Otley, one of the co-founders of Gores Group’s small-cap investment fund, left the firm at year-end, according to sources. Otley updated his LinkedIn profile. He worked at Gores since 2006, helped lead fundraising for Gores Small Capitalization fund with other partners, and led the small-cap investment team to the end of the fund’s investment […]

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Searchlight invests in Italian broadband provider EOLO

Searchlight Capital invested in Italian fixed wireless access broadband provider EOLO, which operates primarily in the residential market. Searchlight is investing alongside the company’s President and Chief Executive Luca Spada, who will retain his role and remain a significant shareholder. Terms of the deal were not disclosed.

Harvard University, endowment, private equity, pension fund
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Harvard endowment PE exec Hall to take role at UTIMCO

The former head of private equity at Harvard’s endowment, whose title changed after an organizational restructuring last year, is leaving the system, according to an internal memo. Richard Hall, who joined the endowment in 2014 as head of PE, will depart Feb. 2 and become deputy chief investment officer at University of Texas Investment Management […]

Sameer Shamsi, Evercore, Credit Suisse, private equity
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Ex-Evercore secondaries exec joins Credit Suisse

Sameer Shamsi, a former secondary advisory executive at Evercore, joined the secondary team at Credit Suisse, a spokeswoman confirmed. Shamsi started as a director on the team Dec. 5, the spokeswoman said. He worked at Evercore from 2013 to last year. He was a director in secondary advisory at UBS from 2010 to 2013, his […]

Butterfly Equity, private equity, food, aquaculture
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Butterfly, formed by ex-KKR, Vista execs, invests in striped-bass aquaculture business

Butterfly Equity, formed by executives from Kohlberg Kravis Roberts and Vista Equity to invest in the food industry, invested in Pacifico Aquaculture, a producer of ocean-raised striped bass, the firm said. Butterfly, which is in market with its debut fund targeting $400 million, focuses on investments across agriculture and aquaculture. UBS is working with the […]

private equity

Editor’s Letter: Look for large U.S. fund restructurings in 2018

A recent deal may be instructive in showing how restructurings can help GPs regain momentum after some down years. J.W. Childs Associates was one of the early GPs to restructure an older fund, cashing out existing LPs and moving remaining investments from its 2002 vintage third fund into a new vehicle capitalized by new investors […]

private equity, Svetlana Loshakov, Moreland Management
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Some LPs feel GP pressure to stifle discussion with other fund LPs

Imagine this: You’re a limited partner in a 10-year-old private equity fund. The fund has not performed well and still has six remaining portfolio companies with no exit in sight. The general partner has gone quiet, barely responding to your information requests. The GP owes you money for early profits he collected when the fund was […]

Apollo Global Management, Searchlight Partners, Ralf Ackermann, private equity
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Ex-Apollo exec Ralf Ackermann joins Searchlight

A former Apollo Global Management executive, Ralf Ackermann, has joined Searchlight Capital Partners, according to people with knowledge of the move. Ackermann started at Searchlight at the beginning of the year. He is a partner based in London, the people said. He is now the seventh in the partnership group at Searchlight. The firm is […]

Kelly Mayer, Lion Capital, private equity
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Longtime Lion Capital Partner Kelly Mayer retires

Kelly Mayer, a longtime partner at consumer-focused Lion Capital, retired from the firm in the fall, Lyndon Lea, managing partner, confirmed for Buyouts. “He remains a great friend of the firm, and I can report he is very much enjoying his retirement,” Lea said in an email. Mayer’s LinkedIn profile says he worked at Lion […]

Rene Yang, Vista Equity Partners, private equity
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Q&A with René Yang, co-head of Vista’s small-cap strategy

René Yang joined Vista Equity Partners in 2007 and worked on Foundation Fund. In 2016, the firm named her co-head of its microcap strategy, called Endeavor. The first Endeavor fund closed in April 2017 on $560 million. Buyouts caught up with Yang to answer a few of our burning questions since the fund close: What […]

Vector Capital, private equity, Goldman Sachs, Government of Singapore Investment Corp
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Goldman, GIC restructure two older Vector funds

Goldman Sachs and Government of Singapore Investment Corp led the restructuring of two older Vector Capital funds whose remaining value was wrapped up mostly in two investments, three sources told Buyouts. The transaction involved Vector Capital’s second and third funds along with co-investments. Vector Fund II is a 1999 vintage $150 million pool, and Fund III, […]

private equity

Editor’s Letter: Looking back on 2017

Now that we’ve arrived at the end of the year, I want to take a moment to look back at some of the interesting themes we tracked here at Buyouts. Many of these will spill over into next year but some may be unique to this time and place. Three important issues come to mind. […]