In 2015 the secondary market was split evenly between non-traditional buyers and secondary specialists, defined as all investment entities actively looking to purchase closed funds on the secondary market, according to the Triago Quarterly Report. But since then, non-traditional buyers have taken up more and more of the secondary market, reaching 56 percent in 2018.
U.S.-based buyout and mezzanine fundraising had another huge boost, continuing a strong push to start the fourth quarter of 2019. Since the last issue of Buyouts, fund managers added $18.4 billion to its year-to-date total, now at more than $269.5 billion. KPS Capital Partners led the pack. The firm’s fifth flagship fund closed on $6 […]
While large buyout funds are selling at a record 100 percent of net asset value, the average secondary market pricing through the first three quarters of 2019 stands at 93 percent of net asset value, slightly down from the 2018 total of 94 percent, according to The Triago Quarterly October 2019.
PRIVATE EQUITY FIRMS Welsh, Carson, Anderson & Stowe promoted three executives to general partner: David Caluori, Ryan Harper and Frances Higgins. The firm also appointed Lee Cooper, Tim Clifford, Emanuele Conti and John Fay as operating partners. Cooper was president and CEO of GE Healthcare Systems, U.S. and Canada; Clifford was president and CEO of […]
Despite more emerging managers bringing funds to market, fundraising brought in its third lowest amount of the year. Eleven fund managers raised more than $771 million from Oct. 9 through Oct. 22, according to Buyouts data. Year to date, new managers have raised a combined $45.1 billion, according to Buyouts. BlackFin Capital Partners raked in […]
It was a slower roundup period for emerging venture managers in the previous two weeks. But they still managed to haul in a number of commitments, making it one of their more successful fundraising periods since the end of the summer. Nine fund managers raised $580.7 million from Oct. 9 through Oct. 22, according to […]
PRIVATE EQUITY Rhône Group re-appointed Ambassador John Bolton as a senior advisor. He previously served as national security advisor to President Trump. KKR named Diego Piacentini as a senior adviser. Piacentini is a former senior vice president of Apple’s international consumer business. Argand Partners promoted Ryan Beres to senior associate. Beres was previously an investment […]
This year has been a struggle for nearly 100 PE-backed companies. As of Oct. 7, there were 99 companies to receive a distressed credit rating, up 29 percent from this time last year. These distressed ratings are defined as an issuer credit rating of B- or lower with a negative outlook from Standard & Poor’s […]
U.S.-based buyout and mezzanine fundraising started off the fourth quarter of 2019 as aggressive as it has been all year. Since the last issue of Buyouts, fund managers added $5.1 billion to the year-to-date total, which is now more than $251 billion. Paine Schwartz led the latest round of fundraising with the close of its […]
Fundraising is a large determinant for staffing changes, and as fundraising swells firms hire people to help put more money to work. Forty percent of firms planned to add senior investment professionals to their staffs in 2019, up from the 29 percent from 2018, according to the 2019-2020 Holt-MM&K-Buyouts PE/VC Compensation Report.
As fundraising continues to trend up, so too do the salaries and bonuses of the people who are responsible for the boom. Partners and non-partners alike saw sizeable increases in salary and bonuses, continuing a trend going back to 2010, according to the 2019-2020 Holt-MM&K-Buyouts PE/VC Compensation Report.
Activity picks up for emerging managers as 12 young venture firms raised about $708 million in the previous two-week period
Emerging managers are staying strong in the final months of the year as they collectively raised more than $1 billion for the second consecutive roundup period. Seven emerging private equity managers raised $1.1 billion from Sept. 25 through Oct. 8, according to Buyouts data. Year to date, new managers have raised a combined $44.4 billion, […]
As we reach the fourth quarter of 2019, emerging private equity fund managers begin to ramp up their fundraising. Nine emerging managers—nearly twice as many as the last fundraising period—raised $1.2 billion from Sept. 11 through Sept. 24, according to Buyouts data. Year to date, new managers have raised a combined $43.3 billion, according to […]
While U.S.-based fundraising continues to soar from 2018 to 2019, fewer emerging buyout and venture capital managers are contributing to the frenzy, according to the Emerging Manager Survey, published by Buyouts Insider in partnership with Gen II Fund Services, LLC. Fifty-eight percent of fund managers said they are in market with a fund, a strong […]
The number of months spent to raise a fund has increased over the past year for emerging managers, according to the Emerging Manager Report. The average and median number of months spent fundraising by emerging managers continues to float around 10, but the upper quartile show some managers needing 22 months to raise their fund.
The exit market skyrocketed in the third quarter, bucking a downward trend for 2019. This was the first quarter of the year to see a value higher than the previous quarter. All told, sponsors in the second quarter of 2019 closed 134 deals for a value of $48.7 billion, Thomson Reuters data showed. Despite having […]
PRIVATE EQUITY FIRMS Blackstone Group named Raymond Chan as a managing director on the portfolio management and investment research team. In his new role Chan will be a portfolio manager for Blackstone Alternative Asset Management’s registered funds platform. Chan previously worked at Goldman Sachs. H.I.G. Capital named Stefano Giambelli and Tobias Borkowski as principal and […]