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Lone Star Funds pulled out of its joint venture with Antares Capital that provides unitranche loans for middle-market companies. Lone Star Funds has “decided to cease making new unitranche loan commitments through the Middle Market Growth Program,” wrote Carol Ann Wharton, an Antares spokeswoman, in a May 22 emailed response to questions. Antares and Lone Star […]
As more private equity firms seek to sell minority stakes, a divide has emerged between the GPs looking for investors and the LPs who are uncomfortable with the transactions. GPs tout selling minority stakes as a way to amass capital on the balance sheet. This so-called permanent capital can be used to expand into new […]
Size and differentiation are huge advantages in frothy market Blackstone most active Q1 sponsor, strikes largest U.S.-based deal Deal activity slows as PPMs reach records First-quarter sponsor-led deal flow illustrated that differentiation is more important than ever, as the pool of buyers chasing quality assets continues to expand and valuations remain at record levels. “In […]
private equity
Our Deal of the Year winner for 2017 is Anchor Glass Container, a company that to most people may not have looked like much of a winner when KPS Capital Partners acquired it in 2014. Anchor Glass, which makes glass bottles used by the liquor, beverage and food sectors, filed for bankruptcy three times in […]
Levine Leichtman capitalized on the growing preference among seniors to stay in their homes.   During the Los Angeles firm’s four-year investment in Senior Helpers, a franchiser of in-home companion care and personal care to patients suffering from diseases like dementia, the portfolio company saw organic EBITDA growth of about 250 percent. Top-line growth also accelerated, with […]
Providence Equity Partners, Ministry Brands, merger, M&A, private equity, religion
SNAPSHOT Company: Ministry Brands Advisors: Weil, Gotshal & Manges, Bank of America Merrill Lynch and Harris Williams & Co WHY THEY WON Netted 1200 pct IRR Revenue expanded by 15x-plus EBITDA grew by more than 29x Turned around investment in less than two years Private equity firms occasionally source high-powered returns from a higher power. Providence Equity […]
KPS Capital Partners’ success with Anchor Glass Container stemmed from a combination of actions, led by KPS and company management. The moves helped the bottle maker boost EBITDA nearly 59 percent in less than three years, said Jay Bernstein, a partner at KPS. The New York buyout shop acquired Anchor Glass, which makes glass packaging products used by […]
Carlyle Group, private equity, Sandra Horbach, women
In 2016, Buyouts put together articles featuring Women in Private Equity with the theme of “Trailblazers,” or up-and-coming women shaking up the predominantly white male PE industry. This year, we’re doing it again but with a slightly different theme. Instead of featuring future stars, we’re focusing on women executives at all levels doing their part to […]
private equity, family leave, women's issues, law, human resources
Chrissie Pariso pushes GPs on diversity Family leave is important for recruitment, retention of women Some firms have never had to think about leave policies Chrissie Pariso, senior portfolio manager in private equity at Exelon Corp, surprises GPs she meets when she asks about their family-leave policies. “When I ask, a lot of GPs are […]
private equity, infrastructure, Donald Trump
Infrastructure fundraising on the rise Trump pronouncements create uncertainty in market Infrastructure experts see strong years ahead By Chris Witkowsky and Sam Sutton Earlier this year, Blackstone Group said in an interview with Bloomberg it could foresee spending $40 billion on infrastructure investments if it decided to get back into that business. The announcement came as […]
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