Large pensions keep quiet after Warren blasts private prison industry

By Teddy Grant and Justin Mitchell Public institution investors of several private equity firms have taken a decidedly neutral stance on private prison investments despite public outcry about the ways the industry treats inmates and a public thrashing by presidential hopeful Sen. Elizabeth Warren. Warren called out American Securities, Apax Partners, BlueMountain Capital, H.I.G. Capital […]


Manulife hires ex-Houlihan execs for secondaries launch

By Adam Le Manulife Financial, Canada’s largest insurer, has become the latest institution to enter the secondaries market as a dedicated buyer. The Toronto-headquartered firm, which has around C$1.1 trillion ($837 billion; €752 billion) in assets and under administration, has hired Jeff Hammer and Paul Sanabria, former co-heads of Houlihan Lokey’s illiquid financial assets practice, […]

Providence Strategic Growth, Evercommerce, payment technology, private equity, merger, M&A, software

Rhode Island ramps up new secondaries strategy, buys stake in Industry Ventures

Less than six months since it decided to begin acquiring stakes on the secondaries market, Rhode Island State Investment Commission has invested $65 million across three transactions. It has appetite for more, and could potentially commit up to $130 million to secondaries this year as it aims to build its exposure to the sub-asset class up to […]

Texas, Texas municipal retirement system, private equity

Texas Teachers eyes PE portfolio sale that could reach $3 bln

By Chris Witkowsky and Rod James Teacher Retirement System of Texas is shopping a portfolio of private equity stakes that could be as large as $3 billion, depending on what sells, three sources told Buyouts.  The system’s portfolio is one of the larger sales on the market that has seen increasingly bigger deals. Earlier this […]

KKR, private equity, healthcare, medical, M&A

KKR healthcare chief Momtazee to leave firm

By Sarah Pringle and Chris Witkowsky Longtime healthcare executive Jim Momtazee is departing KKR more than two decades after joining the global buyout firm, according to people familiar with the matter. Ali Satvat and Max Lin, already partners and senior leaders of the healthcare team, have stepped up to co-lead KKR’s healthcare efforts in the […]


Thoma Bravo seeks buyer for iPipeline

By Luisa Beltran and Milana Vinn Thoma Bravo has put iPipeline up for sale after nearly four years, seven sources said. IPipeline, which provides cloud-based software for life insurance companies, produces about $70 million to $90 million in Ebitda and is expected to sell for about $2 billion, sources said. Credit Suisse is advising on […]

private equity

On the Move, June 10, 2019: Siris taps Tracy Harris; Silver Lake names Karr, Intel’s Anderson

PRIVATE EQUITY FIRMS Crestline Investors appointed Michael Aingorn a managing director. He previously was a partner at American Industrial Partners. BelHealth Investment Partners promoted Jonathan Spero to vice president from senior associate. He joined the healthcare-focused PE firm in 2015. Siris hired Tracy Harris as a partner in IR and product strategy. She will help manage the firm’s relationships with LPs and prospective investors […]

private equity

On the Move, May 28, 2019:

PRIVATE EQUITY FIRMS Permira hired Tom Eggemeier as a partner. He’d been president of Genesys. Graycliff Partners named Gregory Olson an operating partner. Olson is former chief development officer at Ichor Systems. Cimbria Capital named Richard Seline a senior adviser. Currently, he is a managing partner at Resiliency Capital Partners and executive director and senior adviser for AccelerateH2O. Actis named Maureen E. O’Toole a managing director, leading the investor development […]

private equity

On the Move, May 13, 2019: Carlyle taps Goyal, Edgewater names Kapoor

PRIVATE EQUITY FIRMS Macquarie Capital named Mark Buchanan managing director and head of North American family office coverage. He’s a former managing director at BMO Financial Group. Macquarie also appointed Mark Padjen senior vice president. Carlyle Group: Pooja Goyal joins as partner and head of the renewable and sustainable energy team. Goyal most recently headed the alternative-energy investing group at Goldman Sachs. General Atlantic: Michael […]

Instamed, fintech, healthcare, private equity, merger, m&a

Instamed final bids due end of April

By Luisa Beltran and Sarah Pringle Private equity is still in the running for Instamed, the healthcare payments company that’s up for sale, sources said. Final bids for the Philadelphia company are due at the end of the month, one of the sources said. Instamed is expected to sell for $500 million to $600 million, […]

FTV Capital, VPay, payment technology, fintech, private equity, merger, M&A

FTV Capital’s VPay, healthcare e-payments firm, heads to auction block

By Sarah Pringle and Luisa Beltran FTV Capital is preparing to launch a sales process for VPay, whose e-payment services focus on medical providers and auto-repair shops, five sources said. The San Francisco and New York growth firm hired Raymond James for financial advice on a process, three of the sources said. FTV hopes to […]