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Fund V had target of C$600 million Drew commitments from 50 LPs Previous fund raised C$380 million in 2014 Canadian private equity firm Novacap has closed its fifth mid-market technology fund, securing C$840 million ($667 million) with the help of an expanded base of limited partners. Novacap TMT V exceeded by 40 percent its original goal of […]

Firm: Yellow Wood Partners Fund: Yellow Wood Capital Partners II Target: $360 mln Amount Raised: Near target Placement Agent: Park Hill Group Yellow Wood Partners, the Boston middle-market investor, is near a final close on its second fund, according to a person with knowledge of the fundraising. Fund II is expected to close on $360 […]

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.

Welsh, Carson, Anderson & Stowe is looking to exit its more than decade-long investment in Aptuit LLC, a provider of early- and mid-phase clinical drug-development services, three sources familiar with the matter said. The contract research organization is projecting 2017 adjusted revenue and EBITDA of $126 million and $25 million, respectively, the sources said. William […]

Hero Group’s sale of Signature Brands LLC is expected to attract middle-market private equity firms. Hero has hired Rothschild & Co to run a process for Signature Brands, sources said. Signature Brands provides specialty and holiday decorating products, like sprinkles, sanding sugars and icings, under the Cake Mate brand. The Ocala, Florida, company also makes PAAS […]

Private equity is dominating the BakeMark USA LLC auction, which has hit the second round, two sources said. BakeMark is expected to sell for north of $500 million, the sources said. Harris Williams is advising on the sale. It’s unclear which firms are vying for BakeMark, but most are buyout shops, the people said. BakeMark, Pico […]

Panda Power Texas plant filed for bankruptcy in April Firm raised two funds Discussions with LPs about liquidity options Panda Power Funds, an energy-focused firm formed in 2010, is in discussions with its fund LPs on the firm’s future, including exploring ways for investors to exit the funds, three people with knowledge of the firm […]

More than half of LPs with $10 bln-plus AUM would back first-time funds CalPERS, Texas TRS graduate firms from EM programs More investors eyieng anchor commitments Some private equity firms age like fine wine, churning out top-performing vehicles vintage after vintage. Others turn to vinegar over time, forcing limited partners to find new firms — and […]

GTCR targets $5 bln or more for Fund XII Would be largest fund yet GTCR has had run of strong performances GTCR, the Chicago growth investor, could raise its largest fund in one of the strongest fundraising markets to date after a run of strong performances. The firm is in market with Fund XII seeking […]

LPs want to know whether founders are cashing out; How stake-sale proceeds distributed in organizations, and, Whether a firm is developing new strategies Limited partners are scrutinizing private equity minority-stake sales as part of due diligence into funds to which they are considering committing, according to a panel of LPs and consultants at an industry conference […]