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GTCR eyes millennials, ramps up talent development

Dear hipsters, GTCR wants you. The firm hired its first chief talent officer to help recruit millennials for up to eight associate-level openings a year, according to a key executive at the firm. GTCR grows most of its senior talent in-house, but it is also looking to grow its ranks by hiring several junior candidates a year […]


Kenn Lee leaves Cheyenne Capital

Kenn Lee has left Cheyenne Capital, according to two sources. Lee, who worked as managing director at the Denver private equity firm since April 2013, no longer appears on its website. A woman who answered the phone at Cheyenne Capital declined to comment on when he left the firm. Prior to Cheyenne Capital, Lee worked as […]


Middle-market loans keep stride as big LBOs falter

While some debt deals for big LBOs hit rougher market conditions this fall, demand for middle market loans remains healthy, according to a participant in leveraged loans. Thomas Aronson, managing director and principal of Monroe Capital, said his end of the market hasn’t seen any major glitches. “Currently we are seeing enough appetite for deal […]

David Scudellari, PSP Investments, Public Service Pension Investment Board

PSP credit chief building fast-moving team to invest $3.7 bln

Public Sector Pension Investment Board’s new credit chief, David Scudellari, plans to hire more than 25 experienced credit pros in New York, London and Montreal to deploy roughly $4 billion over the next three years as a partner to invest in loans. Scudellari, named in November as senior vice president for principal debt and credit investments at PSP […]

First Data Corp, IPO, KKR, Joe Plumeri, Frank Bisignano

Talking Deal Prices: First Data valued at 6x EBITDA after IPO

Two substantial initial public offerings loomed in the world of sponsored IPOs this fall, with Kohlberg Kravis Roberts & Co floating $2.6 billion in common stock for First Data Corp and Cerberus Capital Management withdrawing its $1.6 billion IPO for Albertsons Companies Inc. KKR finally took First Data Corp public on October 15 after buying the […]


Century Park steps up deal-making after Fund II recapitalization

Century Park Capital Partners is talking to LPs about launching its third middle-market buyout fund on the heels of four quick acquisitions and last year’s recapitalization of Fund II, according to a market source. The El Segundo, California, firm declined to comment on any fundraising plans. Martin Sarafa, Charles Roellig and Guy Zaczepinski, all managing partners, said […]

Goldman Sachs, Lloyd Blankfein

Goldman taps balance sheet, LPs for GCA buyout

Goldman Sachs deployed a fundless model with capital from its hefty balance sheet, a debt contribution and co-investors in its deal to buy GCA Services Group from Blackstone Group, according to a source. The firm may continue doing buyouts from its roughly $20 billion private-equity balance sheet, along with support from a select group of […]

Jay Jester, Managing Director, Audax Group

Audax closes Fund V at $2.25 bln in quick fundraise

Audax Group wrapped up fundraising for its fifth private equity fund with $2.25 billion in commitments, above its target, as the Boston-based buyout shop founded in 1999 continued a brisk pace of deal-making. Fund V drew in $1 billion more commitments than Fund IV, which wrapped up in 2013. Audax offered LPs two major options with […]


Z Capital’s latest bid values Affinity Gaming at $700 mln

Z Capital on November 16 bid $13 a share to take a majority position in Affinity Gaming in a deal that values the privately-held casino operator at $700 million, according to a filing and a person familiar with the firm. “We believe that the company’s stockholders will find the combination of value, certainty and speed in […]

Larry Fontillas, ansarada

Need to Meet: Larry Fontillas, Managing Director for the Americas, ansarada

Founded in Australia in 2005 as a provider of data rooms designed for the document-heavy M&A due diligence process, ansarada is making a global push to win new clients in the United States and Europe. Larry Fontillas, managing director for the Americas, said the company opened offices around the world partly to fulfill its policy of an […]

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Ridgemont Equity beefs up for bigger Fund II

Ridgemont Equity Partners, a middle-market buyout shop, drew in $995 million for its second buyout fund, beating its target by $95 million. The firm launched its fundraising in March, held a first close on $750 million in June, then held a final close in late October. It stepped up its fund size to nearly $1 billion for […]

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First Reserve private equity co-head leaves firm

Tim Day, managing director and co-head of buyouts at First Reserve Corp, left the firm on October 31 as part of a series of personnel changes at the energy and infrastructure specialist, according to a person familiar with the firm. Day’s departure was first reported by Fortune magazine. Day had shared the post with Alex Krueger, who […]


KPS to make 3x return after turning around bus maker MCI

KPS Capital Partners is set to earn a 3x return on its pending $480 million sale of Motor Coach Industries (MCI) to New Flyer Industries Inc, according to a source. During its roughly five-year ownership of the company, KPS grew annual EBITDA at the manufacturer of tour, charter and commuter buses to $75 million, from negative $12 […]

Leon Black, Apollo Global Management

Apollo shops for real estate AUM after deal fizzles

Apollo Global Management’s ambition to beef up its real estate assets under management from the current level of roughly $15 billion remains alive despite scrapping a plan to launch AR Global Investments, according to people familiar with the firm. Apollo said November 9 it would no longer go through with its announced deal to boost its […]

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Falcon targets $1.25 bln for Fund V

Falcon Investment Advisors plans to top the $1 billion mark with its fifth flagship fund, as the middle-market credit specialist hits the capital-raising trail for Fund V, according to a filing. Led by veterans from Hancock Life Insurance Company’s mezzanine lending unit, Falcon Investments last raised $900 million with Falcon Strategic Partners IV, which closed […]


Talking Top Quartile with Doug Kimmelman of Energy Capital Partners

The vintage 2010 Energy Capital Partners II-A LP, the sophomore fund from Energy Capital Partners (ECP), rang up an IRR of 21.9 percent as of December 31, 2014, for the Los Angeles City Employees’ Retirement System. That’s just above the top-quartile threshold of 21.4 percent and the median of 12.7 percent, based on a review of […]

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Sterling-backed Fairway sees debt downgraded again

With negative comparable store sales and weaker-than-expected performance, Fairway Group Holdings Corp is exploring alternatives to raise additional capital as it struggles under $315 million in debt, according to filings and analyst notes. Sterling Investment Partners, a middle-market firm based in Westport, Connecticut, holds 27 percent of Fairway Group’s common stock as its largest institutional shareholder, […]