Longtime GI Partners exec Alexander Fraser steps back into advisory role

Alexander Fraser, a senior executive with GI Partners since 2002, has moved into a senior advisory role as he transitions out of the firm, sources said. It’s not clear exactly when Fraser will leave. He declined to comment about the situation. Philip Yau, a managing director at GI Partners, also declined comment. Fraser joined GI […]

Goldman Sachs, New Mainstream Capital, private equity

Goldman spinout New Mainstream collects $275 mln for Fund III

New Mainstream Capital collected $275 million for a second close on its third fund, which is targeting $350 million, a source said. New Mainstream launched Fund III last year. The firm, which spun out of Goldman Sachs’s merchant banking division, invests in lower-middle-market healthcare and business services. Stanwich Advisors is placement agent on the fundraising. […]


Clearlake-backed Perforce Software acquires Programming Research

Clearlake Capital-backed Perforce Software acquired UK-based Programming Research, which provides enterprise-grade static code analysis. The acquisition of Programming Research represents Perforce’s fourth acquisition in the past two years and its first under Clearlake’s ownership, which was announced in Jan. 2018.


SVP closes Fund IV on $2.85 bln hard cap

Strategic Value Partners closed its fourth fund on its $2.85 billion hard cap, including $350 million of reserve capacity for a fund-of-one relationship. Strategic Value Special Situations Fund IV closed above its original $2.1 billion target. The firm closed Fund III in Nov. 2014 on $1.56 billion.

Z Capital, Peter Coroneos, James Zenni, private equity

Z Capital IR chief Peter Coroneos leaves amid fundraising

Peter Coroneos, who joined Z Capital Group last year to run corporate development and investor relations, has left the firm, sources said. Coroneos is not listed on Z Capital’s website. His LinkedIn profile shows he left Z Capital in January. Prior to joining Z Capital in March 2017, he worked at Jefferies from 2011 to […]

Oregon State Treasury, Oregon Public Employees Retirement Fund, Sam Green, private equity, pension fund

Ex-Oregon LP Green joins Russell Investments

Sam Green, a former limited partner with the Oregon State Treasury, joined Russell Investments as a private market analyst. Green joined in April, a spokesman for Russell confirmed. He is part of Russell’s growing private-markets team, which also includes Wade Millen, senior research analyst, and Brett Deits, portfolio manager. Vic Leverett is managing director of […]

private equity, mergers, M&A, Middle Ground Capital, Elan Growth Partners

Editor’s Letter: New-firm formation activity stays strong this year

As you may know, we love to track new-firm formation here at Buyouts. We did a big project last year trying to capture as many of the new firms that were getting attention from limited partners as possible. This year apparently has not seen a slowdown in the pace of this type of activity. While […]

APG Asset Management, Megan Bethke, Mousse Partners, private equity

APG Asset Management fund LP Megan Bethke joins Mousse Partners

Megan Bethke, a former PE LP at APG Asset Management, joined Mousse Partners, a family office and prolific venture investor. Bethke joined Mousse in April, her LinkedIn profile shows. She’d been a senior portfolio manager in private equity at APG Asset Management since 2013. APG AM is searching for a successor for Bethke, Jennifer Bainbridge, a spokeswoman for […]

U.S. President Barack Obama (L) presents the Presidential Medal of Freedom to former NBC news anchorman Tom Brokaw during a White House ceremony in Washington, November 24, 2014. The Presidential Medal of Freedom is the Nation's highest civilian honor, presented to individuals who have made especially meritorious contributions to the security or national interests of the United States, to world peace, or to cultural or other significant public or private endeavors.   REUTERS/Kevin Lamarque (UNITED STATES  - Tags: POLITICS ENTERTAINMENT SOCIETY MEDIA)   - TB3EABO1NICR6

PE HUB First Read

First Read ends your week with news Daily Beast suspends Joy Reid’s column amid FBI investigation of her hacking claims, Harvard grad claims he can replicate PE returns with public company investing and Tom Brokaw accused of sexual harassment.


KPS agrees to sell Electrical Components International to Cerberus

KPS Capital Partners agreed to sell Electrical Components International, which makes wire harnesses and provides assembly services for consumer appliances and specialty industrial applications, to Cerberus Capital Management. Terms of the deal were not disclosed. However, a person with knowledge of the situation said KPS will be making a more than 3x return on the sale. KPS invested in Electrical Components International in 2014.

Jon Biotti, Charlesbank Capital Partners, Nonantum Capital Partners, private equity

Spinout Nonantum gets Charlesbank support as it closes debut fund

Jon Biotti, a former Charlesbank executive, found a creative way to branch out on his own with help from his former firm. Biotti launched Nonantum Capital Partners in January. The firm announced the final close of its debut fund this week on $385 million (including commitments from the firm’s partners and affiliates). What’s a bit unusual […]

Infinedi Partners, Jay Hegenbart, Harvest Partners, private equity

Former Harvest non-control-fund chief starts his own firm

Jay Hegenbart, who led a non-control investment program at Harvest Partners, left the firm last year and is forming his own shop. Called Infinedi Partners, the firm appears to be in the early stages of formation, according to its website. Whether Infinedi has a fund on the market is unclear, though a source said it plans […]

Goldman Sachs, private equity, merger, M&A

Goldman shops $450 mln portfolio of fund interests on secondary market

Goldman Sachs is shopping a portfolio of stakes in older funds valued at around $450 million, two sources told Buyouts. Greenhill Cogent is adviser on the offering, which has been in the market for some time, sources said. The portfolio contains interests in a variety of fund strategies including mezzanine and debt, distressed, real estate […]


David Bonderman family office builds car wash platform with investments

Wildcat Capital Management, the family office of TPG Capital co-founder David Bonderman, invested in car wash businesses Moo Moo Express and Flying Ace Express, uniting them under the platform Express Wash Concepts. Moo Moo Founder and Managing Partner John Roush will become chief executive of Express Wash Concepts. Flying Ace co-founders Dan Eisenhauer and Jeff Gilger will become vice president of operations and vice president of development.


Coller leads restructuring of Nordic Capital’s 2008 seventh fund

Coller Capital led the investment in what is considered the largest GP restructuring process yet involving Nordic Capital’s 2008 seventh fund. Goldman Sachs joined in the deal, which transferred nine unlisted portfolio companies from Fund VII into a special purpose vehicle called Nordic Capital CV1 with a five-year investment period. The deal, which allowed Fund VII limited partners to cash out or roll their interests into the SPV, was valued at 2.5 billion euros ($3.09 billion). The fund restructuring will allow Nordic to hold the investments longer.