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Littlejohn Mulls New Fund, Adds Managing Director –

19 years ago

Littlejohn & Co. later this year will begin marketing its second turnaround fund, likely shooting for a target of $400 million. To bolster the firm’s lineup prior to fund raising, the Greenwich, Conn.-based firm in November added Edmund Feeley, former president and chief operating officer of baseball card manufacturer Fleer, as a managing director. Angus […]

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Chase Partners Again, Looks at Medical Sector –

19 years ago

In the latest joint venture between Chase Capital Partners (CCP) and an industry specialist, the New York-based group has partnered with Charles Orsatti to form Fairfield Chase Medical Partners L.L.C., an investment entity focused on buyouts of middle-market medical product companies. Chase capitalized the new venture with $50 million in equity, and Mr. Orsatti, who […]

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Kelso Builds Team With Ex-Bear Stearns Pro –

19 years ago

Philip Berney, a senior managing director and head of high-yield capital markets at Bear, Stearns & Co., left that firm last week to join New York-based leveraged buyout firm Kelso & Co. as a partner. Mr. Berney, who had overseen junk bond capital markets at Bear Stearns for the past three years, has longstanding ties […]

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JLL Builds Buyout Team, Founder Returns to P.E. –

19 years ago

Joseph Littlejohn & Levy on Jan. 20 added a fourth partner-Tony Grillo from The Blackstone Group-the same week co-founder Peter Joseph returned from a one-year sabbatical to join Palladium Equity Partners, a buyout firm former JLL professionals formed in 1997. JLL is rebuilding itself now with only one of its named partners-Paul Levy-remaining with the […]

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Whatever Happened to the Leverage in LBO? –

19 years ago

When it comes to growing a company, you can’t have too much liquidity. But how about when you’re trying to show a return on a buyout fund? As the amount of equity going into deals increases, buyout professionals are lauding the positive effects the trend will have on a portfolio company’s financial stability and sustained […]

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Gryphon’s Fund II Pulls In All-Star L.P.s –

19 years ago

Some superstars of the buyout world are putting their personal wealth into a new fund that will make acquisitions deemed too small for their respective mega-funds. The partners of Kohlberg Kravis Roberts & Co., Texas Pacific Group and Oak Hill Capital Partners all will be limited partners in Gryphon Investors’ second fund, which sports a […]

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After a Short Ride, Rubenstein Departs Brera –

19 years ago

Ernest Rubenstein has resigned as one of the four partners at Brera Capital Partners, LLC less than six months after it wrapped its $650 million debut fund. Before helping Alberto Cribiore found Brera last year, Mr. Rubenstein was a senior partner at New York law firm Paul, Weiss, Rifkind, Wharton & Garrison, leaving the firm […]

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Frontenac Publishing Co. Will Target IT Services –

19 years ago

Frontenac Co. last month formed 101Communications, a platform that will look to acquire information technology-related publications and information services, said Laird Koldyke, a general partner at the Chicago-based firm. To get the effort off the ground, Frontenac has partnered with Curt Hessler, an executive who has worked in the information technology and publishing industries, who […]

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Berkshire Cooks a Deal With Kitchen Products Co. –

19 years ago

Berkshire Partners has agreed to acquire all the stock and debt of Rival Co., a publicly listed company, for a total transaction value of $290.8 million, said Kevin Callaghan, a Berkshire managing director. The acquisition will be made as an add-on to Holmes Products Corp., a Berkshire portfolio company that produces and distributes home comfort […]

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Morgan Stanley Nails First Close on $2.5 Billion –

19 years ago

Champagne was flowing at Morgan Stanley Capital Partners, which on Dec. 18 saw a first close of $2.5 billion on its fourth buyout fund, according to a source at the firm. General partners at the private equity group of the investment bank declined comment for this article. The fund, launched with a target of $2 […]

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Three Cities Preps $400 Million Fund –

19 years ago

Private equity firm Three Cities Research, which specializes in acquiring underperforming public companies, is preparing to enter the market in the first half of 1999 with a third U.S. fund that will target between $300 million and $500 million, said President Willem de Vogel. The New York firm, after closing several deals it is currently […]

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DLJ Sees Opportunity With Mezzanine Fund –

19 years ago

Donaldson, Lufkin & Jenrette last month launched its second mezzanine fund, DLJ Investment Partners II, L.P., with a target of $750 million. The group is one of several firms that believes the time is right to raise a large mezzanine fund because financial buyers are investing increasing amounts of capital and the credit market is […]

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CalPERS Questioning Consultants … Again –

19 years ago

For the second time in less than a year, California Public Employees’ Retirement System (CalPERS) has questioned its two advisers, Pacific Corporate Group (PCG) and Hamilton Lane Advisors, about how recent staff changes at the firms would affect their services to the $130 billion pension. CalPERS Senior Investment Officer Barry Gonder in late October sent […]

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Vestar Mulls Fund Raising, Considers $2 Bil. Target –

19 years ago

Although the firm has called down only about half the capital in its $803 million third fund, Vestar Capital Partners is talking to its investors about launching a new effort with a target between $1.5 billion and $2 billion, Vestar L.P.s said. The firm is in the process of trying to close a $500 million […]

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1998 Fund Raising Proves a Tale of Two Halves –

19 years ago

Fund raising for the buyout industry in 1998 might have gone through its last growth spurt and may now mature at a more steady pace. General partners in 1998 shattered all prior records and raised $54.54 billion, 58% more than firms raised in 1997 and more than double what firms raised in 1996. But about […]

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Despite Market Blip,’ 4Q Deal Flow Sows Seeds of Comeback –

19 years ago

By the end of the second quarter, 1998 was poised to be an earth-shattering year of deals for buyout transactions. In late June, the private equity buyout world had already completed more than $27 billion worth of deals, nearly matching 1997’s year-end total of $28.728 billion. Then came the “blip.” International debt troubles and a […]

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KKR Launches $3 Billion Europe Fund –

19 years ago

Kohlberg Kravis Roberts & Co. this month launched a debut European fund that has a target of $2 billion and a cap of $3 billion. If it exceeds its target, KKR potentially will control the largest buyout partnerships in both the U.S. and in Europe. The firm is trying, not for the first time, to […]

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Hicks Muse to Merge Former Platform Co. –

19 years ago

Former Hicks, Muse, Tate & Furst Inc. portfolio company OmniAmerica, a manager of radio and television transmission towers, in November entered into a merger agreement with American Tower, said Jack Furst, a Hicks Muse managing director. Mr. Furst declined to discuss the agreement’s terms, except to say that the deal was structured as a stock […]

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