Executive turnover is a returns killer. What can you do to minimize it? Unfortunately, turnover is a fact of life for private equity firms. Research from management consulting firm AlixPartners suggests that nearly three-quarters of portfolio-company CEOs don’t last during the holding period of the typical investment. And the timing of their departure is often poor. […]
Smith to stay on at credit arm through June Scott previously promoted to president in succession plan GSO Chairman Goodman only co-founder to remain Tripp Smith, co-founder of Blackstone Group’s GSO Capital Partners, will leave at the end of June to pursue other opportunities, a company memo obtained by Buyouts says. Smith and his partners, Bennett Goodman and […]
Fund puts $150 mln in City Storage Systems CSS: holding company for redevelopment of distressed RE CloudKitchens and CloudRetail are its B2B initiatives Travis Kalanick took to Twitter to announce the first investment from his 10100 family office fund: a redeveloper of distressed real estate assets. Pronounced ten-one-hundred, the fund is investing $150 million to […]
Firm’s credit business has had strong growth Expects to launch natural resources fund this year Black plans to stay at firm as it grows Apollo Global Management expects to launch its third natural-resources fund later this year, and it’s in market with its debut hybrid private equity/credit fund — two vehicles that represent the firm’s continued […]
Baruch Future Ventures is the family office of venture capitalist Tom Baruch. Baruch has been an investor for more than three decades. At Exxon Corporation, he managed investments and invested in early stage companies like Supertex that went public in 1982 and was bought by Microtech in 2014. Baruch collaborated with New Enterprise Associates to found […]
Perez joins LACERA Was deputy CIO at New Mexico PERA Second investment exec to join LACERA from NM PERA Jude Perez has joined Los Angeles County Employees Retirement Association as a principal investment officer. He had been deputy chief investment officer at the more than $15 billion New Mexico Public Employees Retirement Association, his LinkedIn […]
Family offices fall prey to “adverse selection” To navigate high-priced deal environment: No FOMO Direct PE competition can be intense, with herd mentality 1. What sectors, sizes and geographies does the Gurvitch Family Office focus on? We are very much agnostic, investing in a diversified and somewhat opportunistic global portfolio of public and private securities, hedge funds, […]
Venue virtual deal room for secure sharing of privileged info Deal-sourcing tool Axial connects CEOs, advisers, investors Offers contract analytics through partnership with eBrevia As president of global capital markets at Donnelley Financial Solutions, Craig Clay is charged with “partnering with private equity funds in understanding the market and their needs, and how their portfolio operations group can be assisted,” he […]
Use of capital call subscription lines has steadily grown Help smooth back-office processes Bank rates creditworthiness of LPs in funds 1.) How has the market for capital-market calls for subscription lines evolved? I have been familiar with subscription financings, sometimes referred to as capital-call financings, since the late 1970s. Then, most financings were for real […]
Kalanick’s new fund called 10100 Will invest in China and India Real estate, commerce and innovations investments Travis Kalanick, the Uber founder who was fired from the company last summer, is starting a family office and fund called 10100. The fund will focus on China and India, a note he posted on Twitter March 7 […]