Featured Content

Fund Raising Cools Off as Summer Heats Up –

19 years ago

The favorite expression industry observers have used to describe fund raising for the last three years was that the rising tide lifts all boats. Today, however, G.P.s suddenly are finding more constricted flows of capital, and, as a result, some of their partnerships are experiencing a slack tide in the fund-raising waters. Firms raised $9.674 […]

Continue

G.P.s Shrug Off Slow Deal Volume In Second Quarter –

19 years ago

It’s the case of the missing deals. Most second-quarter indicators pointed to a robust deal market, with general partners claiming strong flow and lenders expressing eagerness to finance. The buyout industry, sources say, has been confidently emerging from last September’s credit market “blip,” and activity has since been stabilizing. So where were the deals? The […]

Continue

Lazard Freres Places Buyout Fund on Hold –

19 years ago

In the midst of a bitter legal battle over the ouster of its real estate fund chief, Arthur Solomon, Lazard Freres & Co. has postponed efforts to launch its new leveraged buyout fund, according to people close to the situation The LBO fund, which featured a target between $500 million and $750 million, originally was […]

Continue

Chase Capital Forays Into Third-Party Funds –

19 years ago

With one fund targeting third-party capital currently on the market, another that saw a final closing last month and more in the works, private equity giant Chase Capital Partners is in the midst of expanding its business to include managing money other than that of its parent, Chase Manhattan Corp. Partners at Chase Capital currently […]

Continue

Endowment Enters Alternatives Arena –

19 years ago

The California Endowment, Woodland Hills, Calif., a $2.5 billion fund established in 1996, after its July board meeting likely will begin searching for buyout fund and venture capital firms to begin fulfilling its 5%, or $125 million, allocation to alternative investments, said Alex Hsiao, senior investment manager. The searches were originally slated to begin in […]

Continue

Landmark Launches $500 Million Fund IX –

19 years ago

Landmark Partners this month is coming to market with its ninth private equity fund even as one of its partners has noted that there are too many buyers in the secondaries market. Landmark Private Equity Fund IX, like its predecessor, will have three components. The fund will target primary partnership investments-focusing particularly on first-time funds-direct […]

Continue

Mercantile Markets Consumer Products Effort –

19 years ago

Mercantile Capital Partners, LLC has joined a growing list of new firms launching private equity funds targeting the consumer industry. The Mercantile Capital offering has an interesting hook as Antoine Treuille, the firm’s executive managing director, led the 1988 buyout of Loehmann’s Holdings, one of the biggest biggest retail industry buyouts of the 1980s. The […]

Continue

Dresdner Launches Central Europe Fund –

19 years ago

Dresdner Kleinwort Benson this month is readying the launch of a $250 million private equity fund to invest in Central Europe. The offering represents one of the largest private equity funds ever sought for the region. The bank plans to raise much of its capital from U.S. investors, sources close to the bank said. Cheryl […]

Continue

Code Hennessy Back With $850M Fund IV –

19 years ago

Joining the ranks of buyout firms that believe bigger is better, Code, Hennessey & Simmons is in the midst of raising its fourth buyout fund, which features a target of $850 million, according to limited partner sources. The Chicago firm wrapped its third fund in 1997, rounding up $350 million (BUYOUTS Oct. 13, 1997, p. […]

Continue

Crossroads Group Buys EDS’ Alternatives Portfolio –

19 years ago

Taking a major plunge into the secondary market, Crossroads Group acquired the entire private equity portfolio of Electronic Data Systems Corp.’s (EDS) treasury group, which includes 15 buyout partnerships and one venture capital partnership. To finance the transaction, the Texas fund manager closed last week on approximately $400 million for secondary fund The Crossroads Cornerstone […]

Continue

Doughty Hanson Uses Knowles for U.S. Toe Hold –

19 years ago

Just six months after it stormed U.S. shores and set up a New York office to prospect for deals, U.K.-based Doughty Hanson has notched its first agreement to acquire a U.S. based company. The firm last month agreed to pay approximately $520 million for Knowles Electronics Inc., a privately held manufacturer of hearing aids, and […]

Continue

Heritage Partners Hits Final Closing in a Hurry –

19 years ago

Heritage Partners at press time has scheduled a final close on $43 million that would wrap Heritage Fund III, L.P. at $843 million, according to Peter Hermann, a general partner at the Boston-based firm. The final close comes after a mere eight weeks of official marketing, after the firm launched the effort on April 1 […]

Continue

FdG Associates Hits Final at $205 Million –

19 years ago

FdG Associates in late May held a $30 million final close to wrap its debut buyout fund at $205 million, said Doug Dossey, an FdG associate. The firm came in early on to what has become a growing trend: Groups that invest capital for families raising additional money from institutional investors. For example, Oak Hill […]

Continue

Oak Hill Capital Invests In In-Flight Phone Co. –

19 years ago

As advertised, Oak Hill Capital Partners is starting to make contrarian investments that have some G.P.s scratching their heads. The New York-based firm last month agreed to buy GTE Airfone from the telecommunications parent company for an undisclosed amount. GTE Airfone operates in-flight payphones on commercial airlines. GTE had been looking to shed the division […]

Continue

CAI London Ditches Senior Debt for Equity –

19 years ago

Credit Agricole Indosuez acquisition finance (CAI) in London officially has announced its intention to move away from providing senior debt in order to focus on private equity. The announcement coincides with the allocation of GBP30 million ($47.4 million) for private equity investment from the bank’s own funds, to add to the GBP15 million already committed […]

Continue

Heller Banker Departs for Trivest

19 years ago

Daniel Marszalek has been tabbed as group president of corporate finance at Heller Financial Inc., replacing Mark Abbott who has left the Chicago-based lender to join Trivest Inc. as a senior partner. “This was a decision he made to pursue the area of business-to-business Internet initiatives,” Marszalek said. Heller’s corporate finance group provides middle market […]

Continue

Endowment Enters Alternative Arena

19 years ago

The California Endowment of Woodland Hills, Calif., a $2.5 billion fund established in 1996, will likely begin searching for buyout and venture capital firms to begin fulfilling its 5%, or $125 million, allocation to alternative investments, said Alex Hsiao, senior investment manager. Originally slated to begin in March, the searches will begin after its July […]

Continue

Metawave Captures $91M in Fifth Round

19 years ago

As cellular penetration rates continue to rise and handheld devices begin to offer advanced services, such as Internet connectivity and data transmission, cellular operators have to harness more bandwidth capability. Metawave Communications Corp. of Redmond, Wash., provides antenna systems that allow cellular operators to increase network capacity while using existing infrastructure. Late last month, the […]

Continue

Digital Edition

To read a digital copy of our latest magazine

click here

PE News Briefs