Photo of Webb courtesy of Carl Marks Advisors

Need to Meet: Scott Webb, Senior Managing Director, Carl Marks Advisors

In August, Carl Marks Advisors reached a close on a deal for a power plant just south of the Mexican border, near Ciudad Juarez. The government-owned utility had awarded the project to a Mexican subsidiary of Abengoa S.A. in 2015. Shortly after obtaining a bridge loan and beginning construction, the Spanish energy conglomerate entered into insolvency proceedings, threatening the 25-year power […]

Blackstone Group, Tony James, private equity
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Blackstone’s Tony James describes opportunities for infra investing

Blackstone Group is targeting the end of Q1 2018 for a first close of its infrastructure fund, President Tony James said during earnings calls on Thursday. The fund will start investing shortly after that, with fundraising continuing. Asked about potential transactions, James said Blackstone is “just beginning the institutional part of the fundraise, so we’re really not […]

Ben Stamets, Sage Road Capital, private equity
338 Views

Need to Meet: Ben Stamets, Managing Partner, Sage Road Capital

Ben Stamets and Josh Batchelor had known each other for around 30 years when they founded Sage Road Capital in 2011. Both grew up in Oklahoma City, and “through a series of coincidences we ended up as partners beginning in 2007 at our prior firm,” Quantum Energy Partners, Stamets said. Based on those decades of mutual experience, […]

private equity, Citrin Cooperman
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Back to School: Independent sponsor model matures in high-multiple environment

With independent sponsors growing in number and respectability, accounting firm Citrin Cooperman recently conducted what it says is the first wide survey of the profession. Two hundred forty-five independent sponsors took part, a majority (54 percent) of whom have been in the business for more than five years. Sylvie Gadant, partner at Citrin Cooperman, says that’s […]

David Bonderman, TPG Capital, private equity
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TPG’s Rise Fund raises $2 bln for impact investing with measurable outcomes

TPG’s impact-investing arm, Rise Fund, hit its hard cap of $2 billion, a person familiar with the situation confirmed. The news was first reported by Bloomberg. Led by Bill McGlashan, a managing partner at TPG Growth, Rise was targeting $1.5 billion. More capital is expected to come from employees of the firm before the fund closes. McGlashan […]

Apollo Global Management, private equity, Leon Black, SEC
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Back to School: Fundraising slows in Q3, though post-crisis record still in reach

Private equity has been eyeing the annual fundraising record this year, but Q3 looks to be a stumbling block on 2017’s path to potential glory. Research firm Preqin reports that 181 private equity funds closed last quarter, raising a total of $95 billion — 31 percent less than Q2’s historic aggregate of $138 billion, raised by 256 […]

Blackstone Group, Onex Partners, Vista Equity Partners, Bain Capital, Setter Capital, private equity
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Blackstone tops list of most sought-after managers on secondary market

Blackstone Group’s family of buyout funds is the most popular on the secondary market, maintaining its top position year-over-year in intermediary Setter Capital’s ranking of the 35 most sought-after managers. Bain Capital came in second, moving up one spot. Onex Partners jumped from 35 to 25, and Vista Equity Partners improved from 34 to 27. The rankings are based on […]

Ben Crawford, Backstop Solutions, private equity
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Need to Meet: Ben Crawford, Senior Product Manager, Backstop Solutions

The title of a recent white paper by Ben Crawford throws down a gauntlet to GPs and LPs: “Every Institutional Operations Team Needs to Be Better at Benchmarking Private Equity Investments.” “Benchmarking in general is a hard discipline,” said Crawford, senior product manager of performance and quantitative analytics at Backstop Solutions Group, which provides portfolio-monitoring […]

JJ Jelincic, CalPERS, private equity, pension fund, BlackRock
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As it explores options, CalPERS considers outsourcing PE to BlackRock

Could the world’s biggest asset manager be the solution to the private equity difficulties of the nation’s largest pension fund? California Public Employees’ Retirement System is at least entertaining that possibility: CalPERS is in talks with BlackRock over a potential outsourcing of its private equity operations, according to Bloomberg. “No decisions have been made and we are still looking […]

Skullcandy, Jeremy Andrus, private equity, Trilantic North America, Traeger Grills, barbecue, private equity, merger, M&A, AEA Investors, Ontario Teachers Pension Plan
807 Views

There is such a thing as a Wi-Fi grill. And PE is cashing in.

Jeremy Andrus previously led a maker of colorful headphones to a $550 million IPO. Now, alongside several private equity players, Skullcandy’s former CEO is betting that WiFi-connected grills are the future of backyard barbecue. Andrus joined Traeger Grills as CEO in January 2014, and six months later he and then-minority investor Trilantic North America teamed up to acquire control of […]