PRIVATE EQUITY FIRMS Alternative Investment Management named Jason Klein to its chief investment officer advisory council. Klein is senior vice president and CIO of Memorial Sloan Kettering. Allison Miller joined Arbor Investments as chief marketing officer. Miller was previously vice president of marketing for the Chicago Cubs. Carlyle Group: Robert Mancini, a managing director, partner and co-head of Carlyle Power Partners, is retiring […]
Through the first three weeks of May 2018, 94 private equity-sponsored companies hold distressed ratings from Standard & Poor’s or Moody’s Investors Service, including six defaults. Those defaults were due to missed interest payments and subsequent bankruptcy filings. Gibson Brands, backed by Kohlberg Kravis Roberts, Silver Point Capital and Melody Capital Partners, is the latest to […]
Over the past two weeks, U.S.-based buyout and mezzanine funds added $5.7 billion in commitments, bringing 2018’s sum to $78.6 billion. This year’s fundraising trails 2017’s breakneck pace at this time by $27.1 billion, or 25.6 percent. Carlyle Group exceeded its $5 billion target for Carlyle Asia Growth Partners V. The fund, focusing on key Asian markets […]
The software sector fittingly accounts for nearly half of all the private equity-backed unicorn deals completed in the past four years. Of the 190 unicorns (startups valued at $1 billion or more) caught by PE firms, 91 (47.9 percent) were software companies, 22 (11.6 percent) fell into consumer goods and commercial services ranked third with […]
Unicorn companies — startups valued at $1 billion or above — are normally associated with venture capital. However, the private equity space has taken notice. Since 2007, Warburg Pincus invested in a dozen unicorns, KKR sponsored 10, while Silver Lake backed nine.
PRIVATE EQUITY FIRMS Behrman Capital named Vincent M. Buffa an operating partner. Buffa previously was president and CEO of Data Device Corp. Blackstone named Sir John Hood to the board. Hood is chair of Rhodes Trust and president and CEO of Robertson Foundation. Bowmark Capital hired Tom Keen as an investment manager. Prior to joining Bowmark, Keen worked at Lyceum Capital. Carlyle Group hired Hongjiang Zhang as a senior […]
Over the past two weeks, U.S.-based buyout and mezzanine funds added $8.3 billion in commitments, bringing 2018’s sum to $72.9 billion. Despite the second straight steady week, fundraising still trails last year at this time by $24.4 billion, or 25 percent. Linden Capital Partners exceeded its intended goal and closed its fourth flagship. Linden Capital Partners IV […]
Over a year, New Mexico Educational Retirement Board brought in about $248.2 million in distributions led by Clayton, Dubilier & Rice, ComVest Partners and Ares Management. From the start of Q4 2016 to the end of Q3 2017, a pair of 2007 vintages led the way for the pension. Clayton, Dubilier & Rice’s eighth flagship fund and […]
So far in 2018, distressed and turnaround fundraising occupies a larger proportion of the marketplace than it has in recent years. Through May 15, distressed vehicles accounted for $10.8 billion of the $69.3 billion raised (15.6 percent), ahead of both 2017 (5.2 percent) and 2016 (11.2 percent).
Brick-and-mortar retail has lost its luster due to the mainstreaming of online shopping. Despite the ongoing strain on the retail industry, private equity real estate could offer a reprieve. PE real estate firms see value in the asset class through building up stores as “experiences” rather than just transaction depots. Portfolio deals, such as mall […]
This year, Buyouts Insider released the second edition of its Guide to Emerging Manager Investors and Service Providers — an essential tool for budding private equity and venture capital firms! Our guide showcases more than 20 limited partners with an appetite for emerging managers, including California Public Employees’ Retirement System and New York City Retirement Systems. It also provides tools to help you pick […]
PRIVATE EQUITY FIRMS Jonathan Laifer joined BelHealth Investment Partners as an associate. Laifer was previously an investment banking associate in the healthcare group at Goldman Sachs focusing on M&A, leveraged finance and equity transactions. Cerberus Capital Management: Matt Zames joined as president, while Frank Bruno was promoted to co-CEO. Lee Millstein was appointed president of the international business. Zames most recently served as COO of JP Morgan […]
Over the past two weeks, U.S.-based buyout and mezzanine funds added $8.8 billion in commitments, bringing their sum to $64.6 billion on the year. Despite the uptick, fundraising trails last year at this time by $28.4 billion, or 30.5 percent. Strategic Value Partners hit the hard cap and closed its fourth flagship. Strategic Value Special Situations Fund […]
During 2017, Maine Public Employees’ Retirement System brought in about $852.7 million in distributions. Infrastructure funds generated the biggest returns for the pension. At the forefront, First Reserve’s second energy infrastructure fund boasted the strongest individual performance for MainePERS. The vehicle struck oil, churning out $55.5 million in distributions. It also led the way in IRR for the entire portfolio […]
The idiom of “gotta spend money to make money” is often used as a joke in the investment world, but endowments with more than $1 billion in assets under management saw the biggest returns. These foundations led the way across the board for fiscal year 2017 in the 1-, 3-, 5-, and 10-year horizons.
The continued success and reliable returns make alternative investments like private equity the most attractive asset class to U.S. endowments. As they grow in size, endowments allocate proportionately to alternative strategies, while smaller institutions invest more in traditional asset classes.
Over the past two weeks, U.S.-based buyout and mezzanine funds added $5.1 billion in commitments, bringing their sum to $55.8 billion on the year. Fundraising trails last year at this time by $26.5 billion, or 32.2 percent. Atlas Holdings hit the hard cap and closed its third flagship. Atlas Capital Resources III finished at nearly $1.7 billion, […]
PRIVATE EQUITY FIRMS Angeles Equity Partners: Martin Mumford joined as an operating partner and Jarret Rutstein as an associate. Antares Capital appointed Timothy Lyne senior managing director and co-head of sponsor coverage. Vivek Mathew was named head of asset management and funding. Blackstone named Yan Yan a managing director for the real estate team in Asia. She previously was president, chief financial officer and chief operating officer at SOHO […]