The tool room at Kruger Plastic Products. Courtesy of the company.

HC Private Investments buys Kruger Plastic Products in first deal

HC Private Investments made its first acquisition, buying Kruger Plastic Products, a custom injection molding manufacturer. Terms weren’t disclosed, but managing partners John Kelly and Matthew Moran told Buyouts the firm invested between $10 million and $30 million of equity. The deal included minor leverage, they said, with Wintrust Financial Corporation providing debt financing. Kelly said the deal “aligns […]

Photo courtesy of CGinspiration/iStock/Getty Images

Enfoca completes $956 mln restructuring led by CPPIB, Goldman Sachs

Canada Pension Plan Investment Board committed $380 million into a restructuring deal that bought out existing limited partners in Enfoca funds and created a new vehicle to house remaining investments. CPPIB invested alongside Goldman Sachs in the transaction. The new vehicle created as part of the restructuring, Enfoca Discovery 2, has stakes in all seven […]

Mina Pacheco Nazemi, Aldea Capital Partners. private equity

Grosvenor spinout Aldea Capital joins Barings PE platform

The five-member investment team of Aldea Capital Partners has joined Barings Alternative Investments, including co-founders Mina Nazemi and Patrick O’Hara and director Allen Ruiz. “The Aldea team has been integrated into the Barings platform,” Nazemi told Buyouts. She said the move will allow them to bring a “broader capability to clients beyond emerging managers,” a previous area of focus. Barings is part of the MassMutual Financial […]

private equity, PitchBook

Back to School: High multiples, lack of quality assets to bedevil PE in 2018: survey

High transaction multiples and a lack of quality assets in the market are the most significant challenges facing PE this year, a PitchBook survey shows. The research firm in October and November collected forecasts for 2018 from dozens of dealmakers. Access to financing was ranked as the least important challenge, unsurprisingly, with interest rates having been so […]

Searchlight Capital, LionTree, private equity

Searchlight teams with media and telecom bank LionTree on growth financing

Searchlight Capital Partners is teaming with investment and merchant bank LionTree to offer financing for growth companies in the technology, media and telecom sectors, the latter firm’s specialty. The partnership, called LightTree Capital Solutions, “will provide a distinct alternative to traditional venture capital and bank financings,” the firms said in a statement. LionTree Founder and CEO Aryeh B. Bourkoff […]

Burford Capital. Aviva Will, private equity

Need to Meet: Aviva Will, senior managing director, Burford Capital

The rise of litigation finance has led some to question the wisdom of allowing third parties to fund lawsuits, but the biggest player in the industry has already moved beyond merely investing in court cases. “We think of ourselves as corporate finance for law,” said Aviva Will, senior managing director at Burford Capital. “We started out with single-case […]

Landmark Partners, StepStone, State of Connecticut Retirement Plans and Trust Funds, private equity, pension funds

Landmark’s next PE secondaries fund has 14-year term

Secondaries firm Landmark Partners’ next private equity vehicle will have a 14-year fund life, with a possible two-year extension at the GP’s sole discretion, pension documents say. This and other unique terms listed in an investment evaluation prepared by StepStone for State of Connecticut Retirement Plans and Trust Funds. The pension system announced a $100 million commitment to the fund in […]

JW Childs, private equity

J.W. Childs targets $500 mln for Fund V

J.W. Childs Associates is back in market with its fifth fund targeting $500 million, a fundraising filing with the SEC shows. A spokesman for the firm declined to comment. The previous vehicle, J.W. Childs Equity Partners IV, targeted $450 million, with at least $236 million raised as of May 2014. It isn’t clear how much the fund closed […]

Basil Karampelas, BDO Consulting, energy, private equity

Need to Meet: Basil Karampelas, Managing Director, BDO Consulting

Basil Karampelas has been all around the energy sector, as an investment banker, corporate development professional, operating partner, interim CEO and now restructuring consultant with accounting and advisory firm BDO. “We do a lot of work on the creditor side, representing unsecured creditor committees as their financial advisers,” Karampelas said. The goal when he joined in 2016 “was really to […]

TOMS shoes, Bain Capital, Moody's, credit rating, private equity

Bain-backed TOMS Shoes, a pioneer in social-good retail, downgraded at Moody’s

Moody’s Investors Service downgraded TOMS Shoes, a footwear company backed by Bain Capital, citing excessive leverage in a challenging retail climate. The agency assigned TOMS and its first-lien term loan a rating of Caa3, the lowest for “bonds of poor standing,” based on weak earnings. The company’s slightly better probability-of-default rating of Caa2-PD was affirmed, buttressed by […]

Todd Abbrecht, Head of PE, Thomas H. Lee Partners. Courtesy of the firm.

TH Lee raising Fund VIII with Todd Abbrecht as first head of PE

Thomas H. Lee Partners, which is in market raising its eighth flagship fund, earlier this year created the role of head of private equity, naming Todd Abbrecht to the position. Abbrecht was appointed to the role in May. It’s not clear why the firm created the role. A spokesperson declined to elaborate. The Boston buyout […]

Photo of Scott Sperling, Co-President of private equity firm Thomas H. Lee Partners

TH Lee Partners offers choice of deal-by-deal, European-style carry in new fund

Thomas H. Lee Partners is offering investors in its next fund a choice of either deal-by-deal or European-style carried interest distribution in its eighth fund, pension documents say. The firm recently returned to market with Thomas H. Lee Equity Fund VIII, targeting $3 billion, about one year after closing its previous vehicle with $2.6 billion. TH […]