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New GTCR Fund Targets Junior Debt –

20 years ago

GTCR Golder Rauner LLC this month began talking to its limited partners about raising a $400 million mezzanine fund to invest alongside its buyout vehicle, Partner Bruce Rauner said. This follows the lead of several other firms targeting growth investments that also have launched mezzanine vehicles. Thomas H. Lee Co., for one, currently is preparing […]

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Madison Dearborn Holds $1.7 Billion Close –

20 years ago

After less than four months of fund raising, Madison Dearborn Partners on Jan. 26 held a $1.7 billion first close for its third buyout fund, receiving commitments, largely, from prior limiteds. The group last fall set a $2 billion target for Madison Dearborn Capital Partners III, L.P. (BUYOUTS Nov. 9, 1998, p. 1), and Madison […]

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Quick Turnaround for Turnaround Fund Raising –

20 years ago

Questor Management Co. late last month held a first and final closing on $800 million for the firm’s second turnaround fund, said Robert Shields, a managing director at the Southfield, Mich.-based firm. Fund II also will mark the firm’s first foray into investing internationally, he said. Questor kicked off fund raising in the third quarter […]

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Parthenon Holds Close For Firm’s Debut Fund –

20 years ago

Parthenon Capital held a first close on its debut buyout fund in late December, rounding up $257 million, said Ernest Jacquet, a managing partner at the Boston-based firm. The fund kicked off last May with a target of $250 million and a cap of $350 million. Since the first close, the firm has hard-circled an […]

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Chartwell Records $135 Million First Close –

20 years ago

After holding a first close on $135 million for the first buyout fund it has marketed to institutional investors, Chartwell Investments last month increased the target for its fund to $300 million from $200 million. The firm is one of several groups-such as Compass Partners International L.L.C.-raising first or second-time efforts that have found that […]

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Next Stop for Landmark? Primary and Co-Investing –

20 years ago

After having expanded its private equity strategy to include primary investing and direct co-investing (BUYOUTS April 20, 1998, p. 6), secondary investor Landmark Partners Inc. has held a close on its current private equity vehicle, said Stanley Alfeld, the chairman and managing general partner of the firm. Landmark’s eighth fund saw a final close last […]

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Longhorn Growth Fund Skewers $450M Close –

20 years ago

TGF Management Group, based in Austin, Texas, has managed to wrap its third private equity fund, said TGF Partner James Kozlowski. TGF in late December held a first and final close on $450 million Texas Growth Fund II 1998 Trust, which will make buyout, platform and growth capital investments throughout its home state. The fund […]

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Bain and Friends Agree To Buyout of Circuit Co. –

20 years ago

An investor group led by Boston-based Bain Capital last month agreed to acquire Integrated Circuit Systems (ICS), a manufacturer of integrated circuit products for multimedia and data communications applications, for approximately $269 million. According to the agreement, the investor group-which also includes Bear, Stearns & Co. and ICS’s senior management-will pay $21.25 per share to […]

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Harvest Builds Pipe Co., Bolsters Truck Platform –

20 years ago

Harvest Partners again expanded its metal pipe platform last month when it acquired specialty pipe distributor Radnor Alloys, said Harvey Wertheim, a managing general partner at the New York buyout firm. The firm also revved up its truck accessories platform with two new deals. Although the transaction values were not disclosed, Mr. Wertheim said his […]

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3i’s Surprise Bid Would Swallow Electra –

20 years ago

3i, the U.K.’s largest private equity group, in January revealed its plan to acquire Electra Investment Trust (EIT). The approach to EIT, which has assets totaling approximately GBP1 billion ($1.642 billion) and ranks as the U.K.’s second-largest publicly traded private equity investment trust, was unsolicited. EIT rejected 3i’s indicative offer, believed by sources to have […]

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Deutsche Bank Readies European Mega-Fund –

20 years ago

Deutsche Bank’s private equity arm, Morgan Grenfell Private Equity (MGPE), this month set a euro 1.6 billion ($1.8 billion) target for Deutsche European Partners IV. Formal fund raising for the vehicle began Feb. 1. MGPE describes Fund IV as a pan-European buyout fund with a focus on the U.K., Germany and Italy. Like many other […]

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Fear of the Unknown: Regulation D and the SEC –

20 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 –

20 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 –

20 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 –

20 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 –

20 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 –

20 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 –

20 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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