Advent International is talking to limited partners about its next flagship fund, which may launch early next year and target the largest amount in the firm’s history, sources told Buyouts. Advent is expected to target at least $13 billion and maybe as much as $15 billion for Fund IX, sources said. In today’s fundraising environment, […]
Mason Wells closed the acquisition of Buffalo Games, which makes and markets jigsaw puzzles and board games. The firm, along with CEO Nagendra Raina and other members of Buffalo Games management, acquired the business from founders Paul and Eden Dedrick. Financial terms were not disclosed.
Hidden Harbor Capital Partners, acquired Anchor Danly and AWC Manufacturing, which make and distribute industrial tooling and metal fabrication services to tool and mold companies. Czech Asset Management provided financing for the deal, the terms of which were not disclosed.
Pennsylvania State Employees’ Retirement System appeared to defy the governor’s wishes for the state’s two public pension funds to halt high-management-fee investments while a committee studies the costs of the system’s investment programs. Earlier this month, the board of the state’s public-workers pension approved $175 million in commitments across three funds: $75 million to Vista […]
Leonard Green & Partners is gearing up to raise its next flagship fund, which could target up to $10 billion or more, the most ambitious goal in the firm’s long history, sources told Buyouts. Fund VIII will likely be more than $10 billion as Leonard Green closed Fund VII on $9.6 billion in 2016 and could […]
Goldman Sachs has emerged as the lead buyer in an innovative secondary deal, being run by New Enterprise Associates, that is among the largest-ever such transactions in the venture capital world, three sources told VCJ affiliate publication Buyouts. The transaction is one of a group of deals involving high-profile GPs finding ways to deliver liquidity […]
Goldman Sachs has emerged as the lead buyer in an innovative secondary deal, being run by New Enterprise Associates, that is among the largest-ever such transactions in the venture capital world, three sources told Buyouts. The transaction is one of a group of deals involving high-profile GPs finding ways to deliver liquidity to investors in […]
Caisse de Depot et placement du Quebec is selling a portfolio of private equity fund stakes valued at about $1.7 billion, sources told Buyouts. Greenhill Cogent is adviser on the transaction, sources said. The offering is relatively fresh on the market, sources said. Caisse did not respond to requests for comment, and a spokesman for […]
Jeffrey Stevenson, head of Veronis Suhler Stevenson, and the firm settled with the SEC over lack of disclosure of rising valuations on assets he purchased in a secondary transaction out of one of the firm’s older funds. Stevenson and VSS failed to inform selling LPs that the value of the fund in which they were considering […]
Capital-E led an 8.2 million euros ($9.5 million) Series B funding in Silicon Line, which develops low power optical link technology for electronics. Additional investors in the funding included LRM, Munich Venture Partners and Unixtar. Silicon Line will be used to increase production of the company’s optical modules, which are tiny circuit boards inside cable connectors; and upgrade Silicon Line’s module factory in Belgium. The company also will hire additional engineers and open customer support offices in Asia. Silicon Line raised a total of 23 million euros.
HBM Holdings appointed Andy Fincher as president and chief operating officer. Fincher will oversee HBM’s four portfolio companies. HBM Chief Executive Officer Mike DeCola will continue to serve on HBM’s board of directors and will be responsible for overall strategy, people and transaction activity over a transition period. Fincher most recently worked as president and CEO of Dover Engineered Systems.
Franklin Templeton Investments launched a joint venture called Franklin Templeton Private Equity with fund-of-funds Asia Alternatives to provide investors with access to global investments. Franklin Templeton will be majority owner and Asia Alternatives and members of Franklin Templeton Private Equity management team will hold minority stakes. Arthur Wang, former managing director of private markets at San Francisco Employees’ Retirement System, will lead the new entity. Operations are set to start in October 2018.
Kinzie Capital Partners hired Hyo Joo Lee as an analyst. Prior to Kinzie, Lee served with Republic of Korea Armed Forces Defense Security Command in Seoul as an open source intelligence specialist and sergeant.
Bridge Investment Group hired Meena Thever as managing director in its capital markets group, effective Aug. 6. Thever will be responsible for securing capital commitments and building investor relationships. Thever previously worked at BlackRock, where she worked on the firm’s alternatives specialists team.
Recently, I had cause to recall the paranoid days of 2009 when the markets froze and a massive private equity scandal erupted into public view. Andrew Cuomo, then attorney general of New York, unveiled a wide-ranging investigation involving New York State Common Retirement Fund, ex-state Comptroller Alan Hevesi, a politically connected fundraiser named Hank Morris and […]
Two former TIAA-CREF executives are targeting up to $2 billion for a debut fund that will invest in North American middle-market infrastructure, sources told Buyouts. Marietta Moshiashvili and Mario Maselli launched Upper Bay Infrastructure Partners earlier this year. Both of them worked together over the past decade in TIAA-CREF’s direct equity infrastructure effort. Upper Bay has made several exclusive […]
Wind Point Partners completed the recapitalization of its sixth fund, with Neuberger Berman leading the transaction as the buyer, sources told Buyouts. Wind Point Fund VI closed in 2005 on $700 million and has three remaining portfolio companies, sources said. The transaction had a total value of around $175 million, one of the sources said. Park Hill […]
Gallatin Point Capital, a new firm formed by an ex-BlackRock executive and a former Treasury Department official, raised at least $94 million for its debut fund, which invests in financial institutions, according to an SEC filing. Gallatin managed $687 million on a discretionary basis and $324 million on a non-discretionary basis, according to the firm’s […]