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Hellman & Friedman’s auction of OpenLink has hit the final round. Offers for Openlink are due “imminently,” one person familiar with the situation said. Bidders include Allegro Development and a strategic, four other people said. Hellman & Friedman is expected to announce the winner in the next couple weeks, two of the sources said. Founded in 1992, Openlink develops […]
Pending tax changes could have a profound effect on leveraged buyouts, David Fann, president and CEO of TorreyCove Capital Partners, told a conference. The House of Representatives voted late Monday to go to conference on its tax bill, which includes a provision that caps interest deductibility at 30 percent of adjusted taxable income. This is […]
Yellow Wood Partners, private equity, Dana Schmaltz
Advice to first-timers: Don’t market too broadly for debut And build the business before fundraising First-time fundraising climbing Even in a strong fundraising environment like today, launching a new firm is rife with risk and uncertainty. Just ask Dana Schmaltz, a managing partner at Yellow Wood Partners. He easily recalls attempting to start his own firm […]
Antares Capital, Bain Capital Credit, private equity, loans, credit
Antares Capital and Bain Capital Credit on Friday unveiled a joint venture to provide unitranche loans of up to $350 million to middle-market companies. Called Antares Bain Capital Complete Financing Solution, the venture will offer first-lien unitranche loans to companies with $10 million to $75 million of EBITDA, executives said. The joint venture replaces Antares’s prior […]
Vista Equity Partners, Robert Smith, private equity, pension fund
Perennial Investing will be permanent capital vehicle Will make periodic distributions to investors Larger firms in market seek to hold investments longer Vista Equity Partners is talking to a select group of limited partners about its debut permanent capital program, which will be able to hold investments for long periods, according to three people with knowledge of […]
Wayzata Investment Partners, private equity
Wayzata likely to wind down existing investments Formed in 2004 after spinout Most recent fund closed in 2013 Wayzata Investment Partners, a distressed and turnaround investor, is contemplating its future and may forgo raising a new fund, according to three people with knowledge of the firm. The people said the firm will likely not raise […]
Brad Coppens is a managing director at One Equity Partners, where he helps lead the New York middle-market firm’s healthcare efforts. Coppens holds various board memberships, including at OEP-backed All Metro Health Care, which provides primarily nonmedical home-care services. How has the home health sector evolved in recent weeks? There continues to be meaningful change […]
ACA Compliance Group, backed by New Mountain Capital, walked away from discussions with a strategic buyer, a source said. The strategic’s identity is unclear, but ACA terminated talks due to the party’s “internal challenges,” the source said. ACA is now in discussions with two private equity firms, the person said. The two PE firms are vying for […]
David Alpern, Varsity Healthcare Partners, private equity, healthcare, Orthopaedic Institute, merger, M&A
Orthopaedic Institute one of first in segment to partner with PE Varsity mulls gastroenterology, women’s-health opportunities Currently investing out of Fund II, $300 mln fund Varsity Healthcare Partners’ longstanding thesis around the threat of obesity led it to a largely uncharted area for private equity: orthopedic services. If history repeats itself, more consolidation is poised to follow […]
U.S. Senate, House of Representatives, tax, legislation, private equity, Lincoln International
House approves tax bill Fate of Senate version uncertain Leveraged companies face squeeze By David M. Toll and Sam Sutton The House and Senate tax-reform bills would likely mean higher tax payouts for a significant number of portfolio companies, and those experiencing down years could find themselves badly squeezed, according to an analysis by Chicago […]
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