Clearlake exits PrimeSport: UPDATED

Clearlake Capital Group LP said Tuesday it has sold PrimeSport Holdings Inc. to The Carlyle Group, Moorad Sports Partners and RSE Ventures. Financial terms weren’t announced. PrimeSport management and Clearlake will retain a minority stake in the Atlanta-based sports, travel and entertainment management company. Clearlake invested in PrimeSport in January 2014. UPDATE: Clearlake is expected to make over 3x its money with the sale of PrimeSport, a source said.  Lincoln International provided financial advice to PrimeSport/Clearlake while PricewaterhouseCoopers advised Carlyle.


NGP Energy makes Carter a managing partner

NGP Energy Capital Management said late Tuesday that Chris Carter, MD and Chief Investment Coordinator, was appointed to the firm’s Executive Committee and named a Managing Partner. Robert Edwards, NGP managing director, is also relocating to Houston and will manage the firm’s office there, a statement said. The Carlyle Group is an investor of NGP, an energy investor.


AlpInvest’s INext Fund makes final commitment to Clarus Lifesciences

INext Fund, a $58 million venture capital fund of funds focusing on life sciences that is managed by AlpInvest Partners, has made its fifth and final commitment to Clarus Lifesciences III. INext was raised in 2009 and has investors including Eli Lilly and Company, the Indiana Public Retirement System, Indiana University Foundation, University of Notre Dame and Purdue University. AlpInvest, part of Carlyle Group’s Solutions business, manages INext from its Indiana office.


EPIC co-founder Francis to leave

Dan Francis, the Co-founder and Executive Chairman of Edgewood Partners Insurance Center, has elected to leave the company effective Nov. 1. San Francisco-based Edgewood Partners is a national retail property, casualty insurance brokerage and employee benefits consultant. The Carlyle Group acquired EPIC in 2013. Stone Point Capital is also an investor.


Private equity fundraising platform targets individual investors

iCapital Network, an online private equity fundraising platform backed by a consortium that includes Credit Suisse Group AG and Blackstone Group LP, officially launched on Wednesday, seeking to tap demand among individual investors, according to sister news service Reuters.


Carlyle LPs to share in collusion suit settlement costs: Buyouts

The Carlyle Group’s $115 million settlement of a lawsuit that alleged it colluded with other buyout shops to depress deal prices will be paid through a combination of Carlyle Partners IV fund capital, insurance, balance sheet capital, and contributions from some employees of the firm.

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