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SEC wants definitive disclosure about routine business practices The word “may” not always appropriate GPs should analyze whether use of “may” is appropriate Add to the list of things buyout executives should worry about to avoid running afoul of the SEC. If your firm, say, routinely accelerates monitoring fees — a practice that rubs many investors the […]

Zlateva was a director in UBS’s FIG group In 2016, women held 7.3 pct of senior roles at buyout firms: Preqin Lovell employs about 30, including 18 on investment team In the end, Lovell Minnick Partners didn’t need to search far to find its first female dealmaker. Lovell Minnick said Aug. 1 that Roumi Zlateva joined […]

Private equity firm Ares Management is close to buying the practice-management company of Summit Partners-backed DuPage Medical Group, according to a Hart-Scott-Rodino early termination notice. The filing with the FTC follows a July 14 Buyouts report that New York’s Ares was the frontrunner in a process for the Chicago multispecialty physician group. The HSR filing shows that […]

Canada’s top 10 first-half private equity deals had disclosed values of more than $13.4 billion, up 89 percent from the $7.1 billion invested in the top 10 deals at the same time in 2016. The number is based on PE Hub Canada’s list of the largest deals announced in January through June, supplemented by preliminary Thomson Reuters data. It suggests the domestic market may be poised in 2017 to end a three-year decline in investment activity. H1 2017’s top deals are led by Vista Equity Partners’ $4.8 billion acquisition of DH Corp, the largest Canadian PE deal in three years.

PE still toxic environment for women: panelists Firms promote more from within Basis for judging women’s success must change LPs and GPs are more conscious of hiring, retaining and promoting women, but it’s still a toxic environment for females in private equity. That was one of the takeaways from a panel discussion during the Emerging Manager […]

Fund I closed in 2008 at ~$1.1 bln An interim bridge fund raised at least $315 mln in 2016 New York firm promoted five team members in February Lee Equity Partners plans to raise its next fund in 2018, the firm’s founder, Thomas H. Lee, said at Emerging Manager Connect East. Lee also indicated he would move out […]

LPs focus on emerging manager team composition Investment strategy also important to LPs Median number of months to raise emerging fund: 17 Are emerging managers in tune with potential backers when it comes to anticipating what factors are most important to those backers in evaluating their funds? A recent survey by financial publisher Buyouts Insider […]

Duration has marginal effect on returns, says Coslet Long-duration facilities carry risk of default ILPA released guidelines on facilities in June TPG caps its capital-call facilities at nine months, well short of the two- and three-year facilities that have become a flashpoint for debate among LPs. Speaking at a Pension Bridge event held at the […]

TPG’s recent deal for ed-tech startup EverFi reflects an emerging trend that one partner says the firm is well positioned to exploit. That trend, said TPG Partner Nehal Raj, is more cross-pollination between what would traditionally be thought of as growth equity and buyouts. In other words, more companies that have previously chosen to go public — those that […]

Novacap has closed its fifth mid-market technology fund, securing $840 million with the help of an expanded base of limited partners. Novacap TMT V exceeded by 40 percent its original goal of $600 million, the Montréal private equity firm announced today. The fund is more than twice the size of its predecessor, which raised $380 million in 2014. Fund V is the largest raised in Novacap’s 35-year history. Its close brings assets managed by the firm to $2.25 billion.