Maranon Could Wrap Mezz Fund By Fall

By Larry Aragon — 8 years ago

Chicago-based Maranon Capital is hoping to hold the next close for its first mezzanine fund in the August-September timeframe, Buyouts has learned. The shop, which launched Maranon Mezzanine Fund LP in early 2008, is targeting $250 million. It held a first close at roughly $93 million in July 2008, and has already secured another $45 […]

Continue

LA Fire Mulls RFP Responses, PE Program Changes

By Larry Aragon — 8 years ago

The Los Angeles Fire and Police Pensions is reviewing responses to the RFP it issued in May for private equity investment advisers to fill the hole left by its termination of Aldus Equity Partners. The limited partner is also considering using a single adviser for both the core and specialized parts of its private equity […]

Continue

Ill Teachers Adds Emerging Manager; Ups Pledge To Mega-Fund

By Larry Aragon — 8 years ago

The Teachers’ Retirement System of the State of Illinois recently added to the list of private equity firms in its emerging managers program with a pledge to a mezzanine fund. It also gave an additional slug to a name-brand mega-fund. In mid-June, the plan sponsor committed up to $25 million to Maranon Mezzanine Fund LP, […]

Continue

The Rising Importance Of The First Close

By Larry Aragon — 8 years ago

The first close for a new fund is meant to be a strong statement. A buyout shop wants to come out with an impressive figure, a tally that threatens its target, signaling to prospective limited partners they ought to get in while the getting is good. And if a firm can go “one and done,” […]

Continue

Illinois Teachers Lifts PE Target; Commits To Three

By Larry Aragon — 9 years ago

The Teachers’ Retirement System of the State of Illinois in late May upped its target allocation to private equity to 10 percent from 8 percent. In addition, the limited partner made three private equity pledges totaling $175 million and is trying to fill two staff positions and hire a consultant. The LP made other adjustments […]

Continue

Can Small-Cap Shops Lead An Industry Renaissance?

By Larry Aragon — 9 years ago

Many economists are looking to small businesses to lead the economy out of a recession. Can small shops do the same for the buyout market’s current funk? No universal definition exists of what are variously called small-cap or lower-mid-market buyout funds. Some define them as funds of less than $500 million. Others define them as […]

Continue

LP Profile: Adveq Still Hungry For Emerging Managers

By Staff Report — 9 years ago

Institution: Adveq Management AG Assets Under Management: $4 billion Head of U.S. Office: Lee Gardella, managing director and head of investor relations and development (North America) Size of Current U.S. Fund of Funds: $458 million At a time when raising a fund is a struggle for even the most established buyout shops, emerging managers may […]

Continue

Two New Mexico LPs Suspend Aldus Equity As Advisor

By Larry Aragon — 9 years ago

The New Mexico Educational Retirement Board (NM ERB) and the New Mexico State Investment Council (NM SIC) have both temporarily suspended operations with consultant Aldus Equity, citing concerns about the Dallas-based advisory firm’s connection to an alleged kickback scheme involving the emerging manager program it runs for the $120 billion New York State Common Retirement […]

Continue

Head Abroad For Vacation From Denominator Effect

By Larry Aragon — 9 years ago

Fundraising is tough all over, but you may find it a mite easier if willing to travel abroad. As a general rule of thumb, institutional investors outside the United States have newer private equity programs. That’s good news for fundraisers since it’s less likely that they’ve been hit with the dreaded denominator effect, in which […]

Continue

Funds of Funds Still Active But Some Slowing Pledge Pace

By Larry Aragon — 9 years ago

With so many pension plan sponsors and endowments on the sidelines at the moment, either waiting for year-end portfolio valuation numbers or to see how the economy fares in the months ahead, funds of funds could be one of the few games in town for shops looking to raise a buyout fund in 2009. To […]

Continue

Digital Edition

BO_120417_cover

To read a digital copy of our latest magazine

click here

PE News Briefs