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On the job’s board this week are vacancies at state pension fund Maine Public Employees Retirement System, the New York City Comptroller, associate roles at BNP Paribas, Liberty Mutual and Siemens Financial Services and a private equity analyst position at Fortress Investment Group.
Canadian private equity firm Waterton Global Resource Management has wrapped up a new partnership earmarked for deals in the metals and mining industry. The firm’s second fund, Waterton Global Precious Metals Fund II, closed at just over US$1 billion. The partnership was oversubscribed, with a small group of institutional LPs – primarily endowments, pension funds and sovereign wealth funds – committing large individual sums, said Isser Elishis, the Toronto-based firm’s managing partner and CIO. As a result, Waterton Fund II raised 33% more than its US$750 million target.
This week there are job offerings from private equity giant Carlyle Group, along with HarbourVest, Northern Trust and the State Board of Administration of Florida.
Trivest Partners, the Florida-based mid-market private equity firm, earned a 4.3x gross multiple on the sale of Canadian industrial distribution company Hazmasters to Wesco International in a deal that closed in March. That performance owes in part to a 50 percent growth in sales, and a doubling EBITDA, since Hazmasters was acquired by Trivest in November 2011.
The University of Texas Investment Management Co didn’t just stumble into Foundry Group, Spark Captital and Union Square Ventures, UTIMCO CEO and CIO Bruce Zimmerman says at PartnerConnect East 2014 in New York. . Video date: March 27, 2014
Theresa Sorrentino Hajer, Managing Director of Cambridge Associates, delivers a data-filled keynote presentation at Thomson Reuters' Venture Alpha East 2014 conference in New York. . Video date: March 27, 2014
David Rubenstein, co-CEO and co-founder of The Carlyle Group, predicted that over time money management firms like T. Rowe Price and Fidelity would offer everyday investors exposure to private equity through 401(k) plans. He spoke at Thomson Reuters' PartnerConnect East 2014 conference in New York City. . Video date: March 26, 2014
Kabbage co-founder Kathryn Petralia and BlueRun Ventures Partner Jonathan Ebinger discuss the explosive growth of Kabbage and where online lending is heading at Thomson Reuters' Venture Alpha East 2014 conference in New York. Alastair Goldfisher, editor of Venture Capital Journal, moderates. . Video date: March 26, 2014
Brazos Private Equity Partners, a Dallas buyout shop, will not be raising a new fund and will manage out the existing portfolio and wind down, according to Michael Salim, partner and general counsel.
Clairvest Group has launched its fifth fund targeting $500 million, according to a person with knowledge of the fund-raising. Clairvest Equity Partners V has a $600 million hard cap. Atlantic-Pacific Capital is working as placement agent. Clairvest targets mid-market buyouts in North America, seeking to invest between $15 million and $50 million in equity per company. The firm has overall generated a 2.8x return multiple since inception, the source said.
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