Craig Dupper, Elan Growth Partners, private equity, Solis Partners
224 Views

Solis alum launches California-based Elan Growth Partners

Elan Growth Partners has launched to provide capital to lower-middle-market western U.S. businesses in manufacturing, software, business services and food. Founder and Managing Partner Craig Dupper, formerly of Solis Partners, wouldn’t say how much Elan raised in its initial round. Launch investors will be the firm’s primary source of capital, he said, but “we do […]

SFERS, San Francisco Employees’ Retirement System, Cambridge Associates, pension fund, private equity
384 Views

Vector sells minority stake to Dyal, plans credit strategy expansion

The minority stake sold by Vector Capital to Dyal Capital Partners amounts to less than 10 percent of the management company, according to a source with knowledge of the deal. The transaction is intended to help accelerate the growth of Vector’s credit business. It has no connection to succession or operational changes, the source said. Dyal is Neuberger […]

Nehal Raj, Partner, TPG
191 Views

TPG’s carveout of Wind River from Intel driven by data interest

TPG’s acquisition of Wind River, an embedded systems software company, is its second carveout of a business owned by Intel, following last year’s purchase of a majority stake in McAfee, the chipmaker’s cybersecurity unit. Partner Nehal Raj, who leads TPG’s technology group, said the firm was the “logical” choice when Intel was looking to sell off another non-core […]

The roller coaster attraction on the sky background. 	Yulia Naumovich / iStock / Getty Images Plus
360 Views

Fitch: Loose lending terms point to credit top, recoveries to suffer in downturn

Fitch Ratings is calling the peak in credit, citing a slackening of lending terms and a risk-reward mismatch for investors. The agency reported Tuesday that “significant loosening of underwriting standards points to the U.S. leveraged debt market being in the later stages of the credit cycle.” Fitch mentioned underwriting terms concerning pricing, leverage and documentation language, […]

Kristine Koren, Mayer Brown, law, private equity
128 Views

Need to Meet: Kristine Koren, Partner, Mayer Brown

Attorney Kristine Koren’s interest in the law was piqued by a school field trip to the U.S. District Court for Puerto Rico, where she grew up. There, the Hon. Juan Pérez-Giménez told the students that, one day, they could apply to work for him. “Years later,” Koren said, “when I had the opportunity, I did […]

private equity
185 Views

AllianzGI, StepStone team up on mid-market lending push

Allianz Global Investors and StepStone Group have announced the formation of a new lender to U.S. middle-market companies, AC Loan Sourcing. The portfolio is managed by AllianzGI’s US Private Credit Solutions team, with loans being sourced in collaboration with Citizens Bank. John Corbett, portfolio manager at US Private Credit Solutions, called AC Loan Sourcing “a nice partnership […]

Tripp Smith, Sr. Manager Director, Co-Founder, Blackstone GSO Capital Partners
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GSO co-founder Tripp Smith to leave Blackstone

Tripp Smith, co-founder of Blackstone Group’s GSO Capital Partners, will leave at the end of June to pursue other opportunities, a company memo obtained by Buyouts says. Smith and his partners, Bennett Goodman and Doug Ostrover, sold GSO to Blackstone and joined the firm in 2008, creating one of the world’s largest credit investment platforms. No successor is named for Smith, 52, […]

Moravia, RWS, Clarion Capital Partners, Jonathan Haas, healthcare, private equity, merger, M&A
190 Views

International Deal of the Year: Clarion Capital Partners, Moravia

The sale of Moravia to RWS was “a phenomenal result” for Clarion Capital Partners, said Jonathan Haas, who heads the firm’s healthcare and business services groups. But the path from thesis to exit was complicated, with false starts and setbacks along the way. Managing Partner Marc Utay said Clarion has long been interested in “companies that facilitate […]

Craig Clay, Donnelley Financial Solutions, private equity

Need to Meet: Craig Clay, president, global capital markets, Donnelley Financial Solutions

As president of global capital markets at Donnelley Financial Solutions, Craig Clay is charged with “partnering with private equity funds in understanding the market and their needs, and how their portfolio operations group can be assisted,” he said. “And we’re helping with diligence around deals, getting information disseminated in a number of ways.” The company’s virtual data room, Venue, enables […]

Hollie Haynes, Luminate Capital Partners, women in private equity, trailblazers
219 Views

Luminate extends logistics-software investing with supply-chain SaaS firm Conexiom

Luminate Capital Partners’ investment in Conexiom, a supply-chain automation software company, is representative of the firm’s strategy and also something of an expansion, according to Founder and Managing Partner Hollie Haynes. “Our sweet spot has been enterprise-focused software companies who solve complex user problems,” Haynes told Buyouts. “All of our [previous] companies are selling into typically the finance […]

Dominic Ang, Turn/River Capital, private equity, Netsparker, merger, M&A
188 Views

Turn/River raises $168 mln for Fund III, puts $40 mln into security firm Netsparker

Technology investment firm Turn/River Capital has raised $168 million for its third fund, holding “a single one-and-done close,” Managing Partner Dominic Ang told Buyouts. Fundraising took less than 90 days. Ang said all limited partners in Turn/River Capital II reupped and increased their commitments. Investors are a mix of endowments, family offices and funds-of-funds. Turn/River […]