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New York City Comptroller Scott Stringer recently hired Scott Evans, a 27-year veteran of the Teachers Insurance and Annuity of America-College Retirement Equities Fund as chief investment officer at an annual salary of $224,000. While a nice salary relatively speaking (relative to say, a journalist's salary), the compensation is not competitive compared to the private financial sector.
Khosla Ventures is back in the market targeting about $1 billion for its Fund V, according to three limited partners with knowledge of the fundraising.
This week job seekers can consider vacancies at AllianceBernstein, Imprint Capital Advisors, Liberty Mutual, Ohio State University and Providence Health & Services.
Banyan Capital Partners had an especially active first week of June. On June 2, the Canadian private equity firm officially bid adieu to a long-standing portfolio company, Q’Max Solutions. And a day later, it welcomed a new portfolio entrant, Newcrete Investments. Banyan provided funding to the management buyout that launched Newcrete, the former concrete division of St. John's, Newfoundland-based Pennecon.
Apax Partners said on Monday it has boughtGenex Services.
On the jobs board this week there are private equity associate positions at Bessemer Securities and Juggernaut Capital Partners and senior principal and financial analyst positions at state pension funds CPP Investment Board and the Los Angeles County Employees Retirement Association.
Three longtime banks for private equity firm KKR & Co LP have snubbed a request for a $725 million buyout loan over concerns it is too risky to pass muster with U.S. regulators, Reuters reported, citing sources familiar with the situation.
Some general partners have taken a fairly relaxed view of the recent leak of their limited partner agreements—which raises the point that what has been under lock and key for so long in this industry actually doesn’t need to be.
The SEC says its first wave of private equity examinations—about 150 so far—included firms of all shapes and sizes. And the questionable behavior found by the SEC occurred across the board and not just in “fringe” firms.
The private equity group of Brookfield Asset Management had a memorable 2013. Its accomplishments included portfolio exits that added materially to the larger Brookfield’s financial results last year – the strongest in its history. Two of these deals were recently in the news. A realized exit, the sale of Longview Fibre Paper and Packaging, won Brookfield the Canadian PE industry’s most prestigious award. A planned exit, the sale of Ainsworth Lumber, was instead nixed after prolonged efforts to comply with regulatory requirements.
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