David Rubenstein, co-founder and co-CEO of The Carlyle Group, says a degree in humanities is an ideal foundation for a career in private equity.
Bain Capital LLC stands to make more than 4x its invested capital when it completes the sale of insurance software maker Applied Systems Inc in a secondary sale to Hellman & Friedman LLC, a person with knowledge of the transaction told Buyouts.
As if fundraising weren’t difficult enough, new and changing rules in Europe are likely to entangle — or perhaps strangle — GPs and LPs for years to come. Will the AIFMD affect your fundraising strategy?
Readers of peHUB aren’t worried so much that rising interest rates will hurt the economy, but they are concerned that continuing low rates will lead to a damaging credit bubble.
The Carlyle Group is arguing that the Fed is likely to try to keep rates lower for longer than anyone is anticipating. What do you think?
Often when we conduct these reader surveys at peHUB, we get runaway results, often (as I have frequently suspected) because the common background of our readers in the alternative investing arena leads them to share common views of issues in the news. Not this time.
With the dismissal in August of Thomas H. Lee Partners LP from an antitrust lawsuit accusing major buyout firms of improperly colluding on take-private deals, seven firms remain as defendants. Where do you think the case ends up?
The BDC industry is likely to continue to expand as banks shift away from risky cash-flow loans, and non-traded BDCs capture a growing share of that expansion, Robert K. Grunewald, CIO of non-traded Business Development Corporation of America (BDCA), told peHUB sister magazine Buyouts.
With Europe’s economy continuing to struggle and lenders on the Continent constrained in lending for deals, specialty finance company Crystal Financial sees an opportunity, Colin P. Cross, a senior managing director, told sister magazine Buyouts.
Leveraged lender NXT Capital LLC has raised $283 million for a new loan fund earmarked to finance sponsor-backed deals, sister magazine Buyouts reported.
In the evolving market for secondary sales of aging private equity portfolios, it is likely to take some time before dealmakers figure out approaches that will be relatively standardized, consistent and fair, says Trey Muldrow, an attorney at Akin Gump
Buyout pros pride themselves on their ability not only to do deals and build companies but also to exit their investments in an efficient, profitable manner. Jerry L. Mills tells sister magazine Buyouts they might find it beneficial to offer some of that expertise to small businesses that could become deals for them in years to come.
The dividend recapitalization may be one of the most controversial techniques of realizing returns in the buyouts business, but Ted Thorp, co-head of the leveraged finance group at ORIX USA, says recaps are a useful tool in the sponsor’s toolkit.
Legislation that would ease leverage constraints on business development companies has started a rare public controversy within the BDC community, a group that lends to sponsor-backed businesses with annual revenue of less than $500 million.
Readers of peHUB aren’t exactly twiddling their thumbs with too little work to do, but they do seem to have enough excess capacity to take on some more activity.
As you look at your workload today, are you running at half speed or full bore? Take our latest poll here: http://www.surveymonkey.com/s/DealMakerPoll
Billionaire hedge fund manager Louis Bacon is placing a big bet on mid-market lending by backing a new firm that is seeking to raise a $750 million debt fund aiming at the lower end of the middle market, two sources told sister magazine Buyouts.