By Patrick Krause, MHT Partners Specialty physician groups continue to garner significant interest from private equity investors, with orthopedic and ophthalmology practices joining dermatology and dentistry as particularly attractive in the current market. The past few months have seen a number of transactions involving these physician-led practices. And that activity is likely to continue because these operations […]
By Gary Moran, managing director, and Naseem Ansari, vice president, Accordion. “I cannot hit curveball. Straight ball I hit it very much. Curveball, bats are afraid.” — Pedro Cerrano, “Major League” (1989) Cerrano was no Ricky Vaughn, but the slugger had a point. It’s hard to put wood on the curveball. Fourteen years later, researchers studying the […]
Now is an opportune time for owners to sell their companies. Valuations through Q3 2016 are at the highest level since at least 2010. Private equity dry powder is at record levels and PE firms are under pressure to invest. These and other dynamics combine to put sellers in a strong position. To avoid squandering that advantage, Torys LLP's Stefan Stauder and Katherine Spenner offer five points they believe sellers may want to keep in mind to preserve leverage, and to maximize deal proceeds and favourable terms.
While transaction activity on the secondary market this year has been strong, one area of the business has grown more challenging: Fund restructurings are tougher to complete, at least as initially intended. Restructurings generally give LPs in older private equity funds the choice to sell or roll with the manager into new vehicles created to […]
There is a governmental agency that actually makes money: Overseas Private Investment Corp, which provides loans and insurance for U.S. companies, including fund managers, investing in emerging markets. OPIC may not be all that well-known among the general population, but it is among the GPs who invest in emerging markets, committing to funds and projects […]
At an international private equity conference in Washington in May, speakers sounded the alarm about the twin challenges of rising populism and new technology reducing employment opportunities, especially in emerging economies. Europe must have an interest in the economic development of Africa, said one speaker at the IFC EMPEA Global Private Equity conference. Otherwise, the […]
Download our Buyouts “Guide to Secondary Buyers & Placement Agents 2017” to see the latest secondary fundraising statistics and listings from a directory of buyers and intermediaries. Guide to Secondary Buyers and Intermediaries 2017
Executives at Blackford Capital like to talk up their Michigan Prosperity Fund, which they have described as a $50 million buyout fund launched in 2012 and earmarked mainly for in-state investments. But the fund isn’t a blind pool in the conventional sense. In fact, the firm has formed individual limited partnerships for each of the nine portfolio […]
U.S. M&A standards continue to influence the Canadian market, but despite the general trend of convergence in the cross-border legal market, deal terms in the Canadian M&A market still tend to offer more protection to the buyer, particularly with respect to indemnification, write Osler, Hoskin & Harcourt LLP Partner Marc Kushner and Associates Michael Budabin McQuown and Jillian Mulroy. In a PE Hub Canada feature article, they argue that deal-makers in Canada can profit by keeping abreast of the latest developments and tactically applying the prevailing norms.
Ottawa Avenue Private Capital LLC, an investment arm of the family office of Richard DeVos, father-in-law to U.S. Secretary of Education Betsy DeVos, has raised at least $420 million for two funds in a series of annual co-investment pools, regulatory filings suggest. The Grand Rapids, Michigan, firm, founded in 2015, had assets in Ottawa Avenue Fund 2017 LP […]