By JP Flaum, Green Peak, and Jeff Warren, Russell Reynolds New CEOs often come into portfolio companies with guns blazing, ready to change the world. But here’s one thing they typically don’t do fast enough: fire people. We recently interviewed 25 leaders at premier private equity firms in the U.S. and Europe, including Bain Capital, […]
SBIC is one of those programs that it’s hard not to like. The program, run by the Small Business Administration, matches a manager’s private capital with government debt $2 for every $1 of private investor capital. So if a manager raised $87.5 million from limited partners, the program kicks in $175 million. That’s a powerful […]
Oaktree joins ranks of high-profile managers exploring secondaries options, NJ raises concerns about denominator effect
The chase for complex, special-situation deals is heating up. Last month Dallas-based Renovo Capital finished raising its second institutionally backed turnaround and special-situations fund at its hard cap of $225 million. Among the 10 investors is the corporate pension plan of DuPont. The firm raised $132 million for its first institutional fund — its second overall […]
KKR invests in OneStream; Accel-KKR considers liquidity options for 2008 fund; Great Hill makes 6x on ZoomInfo sale
Every year the secondary market seems to hit another milestone. Last year will be known as the one in which the “7” number was broken. Estimated secondary market deal volume in 2018 vaulted $70 billion, according to two surveys published Jan. 24 by Evercore and Setter Capital. That would be the highest level ever in the […]
GPs consider benefits/drawbacks of long-dated PE, Top 5 factors to consider before the next downturn
By Michele Kovatchis, Antares Capital It’s been a quiet time for workout teams, with the U.S economy still in its longest expansion since WWII. When the next downturn will hit is unknown, but lenders, borrowers and investors should consider some key factors likely to affect the next down cycle. Some have new dynamics and implications […]
Why healthcare sponsors are pivoting to orthopedics; John Hopkins endowment shopped a PE portfolio in ’18; Kainos lawsuit feedback
We thought we’d start the year off right: talking about limited partners and how they’re viewing private equity. From the looks of things, LPs aren’t pulling back from the asset class even a little bit. We ran through some of the largest public systems in the country to find out what they’re up to. Most […]