PRIVATE EQUITY FIRMS Advent International hired Raul Alvarez as an operating partner. Alvarez is a former president and chief operating officer at McDonald’s. BioScience Managers Ltd, the Melbourne, Australia, healthcare investment firm, appointed Michael Perry as a director, Dennis Purcell as a director and senior expert adviser and Nicole Vitullo as an independent director. Perry was senior vice president and chief scientific officer (business development and […]
U.S.-based buyout and mezzanine fundraising brought in $6.1 billion since Buyouts last went to press. Thus far in 2017, private equity firms raised $192.4 billion, leading this time a year ago by $29.9 billion, or 18.4 percent. Glendon Capital Management held the major close over the past two weeks. The Santa Monica, California, shop held the final […]
In the first nine months of 2016, Public Employee Retirement System of Idaho raked in more than $115.7 million in returns. This surge was led by funds from Veritas Capital Fund Management, Advent International and Blackstone Group. Veritas Capital’s fourth flagship pool led the charge, producing $11.4 million over the period. Advent closely trailed with its sixth Global […]
The upcoming 2018-2019 Buyouts Partnership Agreements Study shows management fees tend to overwhelmingly hover at 2 percent for most firms. On average, three-quarters of firms structure their management fees as a percentage of committed capital, as opposed to invested capital or budgeted fees.
According to Buyouts’ 2018-2019 Partnership Agreements Study, a 20 percent carried-interest rate is the most common across all asset classes. From those surveyed, North American buyout firms have the lowest degree of variance, while funds-of-funds and secondaries can take anywhere from 5 percent to 20 percent in carried interest.
Here are the key statistics in private equity fundraising, deals and exits for the third quarter of 2017. Download the “Buyouts Insider Q3 2017 Highlights” slideshow as a PowerPoint: Buyouts Insider Q3 2017 Highlights
Canada Pension Plan Investment Board enjoyed a healthy 2016 with its private equity portfolio generating nearly $4.5 billion in returns. This windfall was led by funds from Advent International, Apax Partners and Kohlberg Kravis Roberts. Advent International’s sixth global private equity fund led, producing some $213.8 million over those 12 months. Advent International GPE VI also has the highest investment multiple of […]
PRIVATE EQUITY FIRMS Adams Street Partners appointed Alex Kessel a principal on the co-investments team. Kessel is a former principal at Baird Capital. Breakwater Management, a Los Angeles private investment firm focused on the lower-middle market, named Darrick Geant managing director and Joe Kaczorowski managing director and chief financial officer. Prior to joining Breakwater, Geant was a managing director at Goldman Sachs while Kaczorowski is former […]
U.S.-based buyout and mezzanine fundraising brought in $7.4 billion since Buyouts last went to press. Thus far in 2017, private equity firms have raised $186.2 billion, leading this time a year ago by $27.3 billion, or 17.2 percent. GTCR held the major close over the past two weeks. The Chicago shop held the final close on its […]
According to PitchBook’s latest PE Breakdown report, debt-to-EBITDA multiples have shot to record levels at 5.8x. That’s the highest they’ve been since 2007. Interestingly, equity-to-EBITDA ratios have ratcheted down to 4.7x, from last year when the ratio hit 5.3x.
As deal multiples remain high year-over-year, the percentage of private equity add-ons stayed high as well. Add-ons typically are conducted at lower multiples, so in a high-priced environment, they provide a more attractive avenue to getting deals done.
California Public Employees’ Retirement System private equity portfolio generated more than $3.8 billion in distributions in 2016. This tidal wave of returns was headed by funds from Apollo Global Management, Carlyle Group and Advent International. Apollo Special Opportunities Managed Account led the way, producing $192.7 million over the 12-month period. Carlyle Partners V followed by distributing $191.8 million. Advent International’s sixth global private […]
U.S.-based buyout and mezzanine fundraising started October off tepidly. Over the past two weeks, the yearly total only grew by $4 billion. Thus far in 2017, $178.9 billion has been raised, leading this time a year ago by $32.6 billion, or 22.3 percent. Spectrum Equity held a major close since Buyouts last went to press. The Boston […]
PRIVATE EQUITY FIRMS Apposite Capital said Oct. 9 that Rory Pope was named a partner and member of the management board. Pope has been working with Apposite as a full-time consultant since March. Apposite also appointed Alexander Cunynghame as an investment executive. Arsenal Capital Partners named Patricia Grad a senior managing director and head of investor relations. Previously, she worked at Actis where she was […]
According to the 2017-2018 Holt-MM&K-Buyouts Insider North American PE/VC Compensation Report, the average firm commits 62 percent of its revenue to payroll, with venture coming in the highest at 67 percent. How does your firm compare?
The average payroll for all investment firms is about $10.4 million, based on global data from the 2017-2018 Holt-MM&K-Buyouts Insider PE/VC Compensation Report. Larger shops skew bigger on the payroll scale, and leveraged buyout firms tip the scales the most, averaging more than $11.9 million.
Get the latest fund performance data for more than 2,300 funds from 47 LPs by downloading the accompanying Excel spreadsheet. Funds date from vintages 1969 up to 2012, the most recent year the performance data would be meaningful. Click here to download: Fund Performance 2017
PRIVATE EQUITY FIRMS Abraaj Group: Kito de Boer joined as a managing partner. In 2014, U.S. Secretary of State John Kerry appointed de Boer head of mission of the Office of the Quartet in Jerusalem. Prior to this diplomatic posting, de Boer worked at McKinsey & Co. Angel Island Capital named Dev Gopalan CEO. Previously, he was head of U.S. private credit at KKR. AIC […]