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Fear of the Unknown: Regulation D and the SEC –

19 years ago

Many buyout professionals aren’t quite sure what “general solicitation” means. And frankly, the Securities and Exchange Commission doesn’t want them to know. When it comes to private placement, it seems every buyout firm has its own ideas about what constitutes “private.” Some firms speak openly to the press about fund raising, leave names and phone […]

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Menkes Finds a Home, Weisel Launches P.E. Fund –

19 years ago

Some four months after he departed his post as a managing director at Dallas-based Hicks, Muse, Tate & Furst Inc., Alan Menkes has joined Thomas Weisel Partners to co-head its private equity program. The San Francisco-based investment bank this month began pre-marketing its first private equity fund-which will focus on buyouts and growth equity investments-shooting […]

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Capital Z Wraps Up Global Fund-of-Funds –

19 years ago

New York-based Capital Z Partners Ltd. on Jan. 13 wrapped a $1.5 billion fund-of-funds that it will use to help establish groups raising private equity and hedge funds around the world. Capital Z, like a growing number of L.P.s, believes the private equity world is becoming global and now is the time to establish relationships […]

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Merrill Fires Four From Private Equity –

19 years ago

The bloodletting at Merrill Lynch & Co. has reached the firm’s profitable private equity group, which late last month saw the firing of four top professionals. Managing Director Theresa Clark, Director David Mullane and Vice President Michael Smith-all investment bankers in the private equity group-as well as Dale Meyer, a fund raiser on the Northeast […]

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After Settling Suits, Tom Lee Readies New Mezzanine Fund –

19 years ago

Thomas H. Lee Co. is preparing to launch a mezzanine fund with a target of about $1 billion to invest alongside the firm’s buyout fund. The launch will come a year after the firm settled four lawsuits filed by L.P.s alleging breach of fiduciary duty in the group’s two prior mezzanine funds, which raised a […]

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Forstmann Little Adds Erskine Bowles as Partner –

19 years ago

Several months after leaving the White House as Chief of Staff, Erskine Bowles has joined Forstmann Little & Co. as a partner and has re-joined Carousel Capital, the firm he formed in 1996. He said he has no plans to go back to politics-dispelling rumors that he is planning to run for Governor in North […]

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KKR Wins Key Supporter For European LBO Fund –

19 years ago

Kohlberg Kravis Roberts & Co. cleared a hurdle this month in raising its European fund when one of its biggest backers quickly got behind the effort. KKR has set out to raise the largest fund a U.S. firm has sought for offshore buyouts-the debut fund targeting Europe has a target of $2 billion, and a […]

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Libra Finds Balance With Final Closing –

19 years ago

Libra Capital Partners last month held a final close on $50 million for its first buyout fund, said James Upchurch, president of the Los Angeles-based private equity arm of investment bank Libra Investments. Libra Investors II, L.L.C.-so named because of an earlier $44 million mezzanine fund-likely will grow a by few million more, Mr. Upchurch […]

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Sentinel Adds Two, Nears Final Close –

19 years ago

In a move to help the firm manage its increased fund size, Sentinel Capital Partners has added two new general partners, increasing the number of professionals at Sentinel to five from three. Christopher Weiler and James Coady joined the firm in early January, said David Lobel, managing partner at the firm. They will assist in […]

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Saratoga Builds Lineup, Two P.E. Pros Join Firm –

19 years ago

Saratoga Partners last month added Richard Campbell, a former managing director of Saugatuck Associates, and David Niemiec, former Dillon, Read & Co. chief financial officer, as partners at the New York-based firm. According to Mr. Campbell, he had a long-standing relationship with Saratoga stemming from co-investments that Saugatuck had made alongside prior Saratoga funds. Although […]

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Despite 4Q Slowdown, U.K. LBOs Reach Record –

19 years ago

Although the U.K. buyout market value reached a record level for the third successive year in 1998, preliminary figures from the Centre for Management Buyout Research (CMBOR) confirmed a notable slowdown in the final quarter. CMBOR reported a total deal value of GBP13.4 billion ($22.016 billion) for 1998, GBP3 billion more than the total for […]

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BC Partners Wins Cantrell & Cochrane –

19 years ago

The year began on a high note for BC Partners, which in the second week of January bought Cantrell & Cochrane Group, Ireland’s leading distributor of alcoholic and soft drinks, in a euro 800 million ($928 million) deal. The closure of the deal comes after speculation that the U.K.-based private equity group had been eyeing […]

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Doughty Hanson Buys High-Growth Swiss Co. –

19 years ago

Doughty Hanson & Co. in early January signed an agreement to purchase Tornos Bechler, a Swiss manufacturer of high-performance automatic lathes. A leader in its field worldwide, Tornos Bechler last year generated a turnover of CHFr 280 million ($204.1 million). Since Dr. Anon Menth took over as president and chief executive officer in 1995, the […]

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Tide Floats Edgewater To $21 Million First Close –

19 years ago

Cleveland-based The Edgewater Group last month held a first closing that landed $21 million for the firm’s buyout pledge fund. Edgewater Capital, L.P., the firm’s first fund-raising effort, will invest in small to middle-market domestic companies with maximum enterprise values of $50 million. Since being formed in 1982, Edgewater has operated as a private equity […]

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Castle Harlan to Take Off With Airline Service Co. –

19 years ago

Castle Harlan wrapped up 1998 with two deals, the most recent of which was its agreement to acquire AMR Services, a provider of ground services to airlines, from AMR Corp., the parent company of American Airlines, for an undisclosed amount. Also last year, Castle Harlan acquired Houston family restaurant chain Luther’s Bar-B-Q for an undisclosed […]

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Cookie Co. Takes Bite Out of First Atlantic Fund –

19 years ago

With its acquisition this month of Otis Spunkmeyer, a manufacturer of frozen cookie dough and muffins, First Atlantic Capital is readying itself to launch a new buyout effort. While Roberto Buaron, First Atlantic’s chairman and chief executive officer, declined to provide a target for the new fund, he confirmed that the Otis Spunkmeyer acquisition has […]

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Stolberg’s Platform Ices Two Add-On Acquisitions –

19 years ago

In spite of the cold temperatures that came at the end of December, Stolberg, Meehan & Scano’s appetite for frozen novelties was not diminished. The New York- and Denver-based firm’s platform The Frozfruit Co., a manufacturer and distributor of frozen desserts, acquired Garden, Calif.-based M & B Coolsnacks, L.L.C. and Moore Enterprises of Fort Worth, […]

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Hackney Group Bounces Into Rubber Industry –

19 years ago

Capitalizing on a dip in the oil and gas industry, The Hackney Group acquired Industrial Rubber Products for an undisclosed amount, said Scott Watson, vice president of transactions at the buyout firm. Industrial Rubber molds rubber products for use in the petro-chemical and mining industries, including oil rigs in the Gulf of Mexico, Mr. Watson […]

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