Highland Capital Management hired Laurie Whetstone as a managing director and Kieran Brennan as a director. Both work on business development, expanding its team in anticipation of increased opportunities in distressed credit. Whetstone joins from Bernstein Private Wealth Management. Brennan joins from Connor, Clark & Lunn Financial Group.
Christian Saucedo, the brother of Eric Saucedo, a partner at Tricap Partners who died on Jan. 5, got in touch with me recently and asked that I include in my story the fact that his brother committed suicide.
Deval Patrick, a senior executive on Bain Capital’s impact investment fund, wants to find a way to tie carried-interest awards to the level of societal or environmental impact of such investments, he told an industry conference Thursday. This would help give executives on the impact team incentive to achieve both strong financial returns and measurable environmental […]
One Equity Partners, which spun out of JP Morgan, is gearing up to raise its next fund, targeting at least $1.75 billion, sources told Buyouts. Fund VII is not yet officially in the market, sources said. The firm has discussed the fund with certain limited partners, they said. When the fund will initially start fundraising […]
AlpInvest Partners is targeting at least $500 million for a fund that will buy minority stakes in GP management companies, sources told Buyouts. The fund is in the market now, said one LP who has heard the pitch. The fund is focused solely on minority stakes in private equity firms, sources said. The fund could […]
Along with funds already in the market, three big-hitters are likely coming back this year, which should make for a limited partner feeding frenzy. Vista Equity is coming back this year with Fund VII, which will likely target as much as Fund VI ($11 billion) or more, sources told me. LPs anticipate Vista will officially […]
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 […]
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 […]
Pulse Equity, a fundless sponsor formed by Douglas Lehrman, former senior executive at North Castle Partners, will stop making new investments now that Lehrman joined investment bank Financo as a managing director. That’s not to say that Lehrman is leaving the business he started. He’ll continue to manage and help grow the portfolio companies until […]
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 firm decided last summer to wind down after meeting with limited partners about raising its first institutional fund, targeting $300 million or more, said […]
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 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 expect […]
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 […]
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.
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, 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, 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 […]
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 […]