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Toronto-based Balmoral Wood Litigation Finance has launched a US$150 million ($200 million) fund targeted to an emerging industry that specializes in bankrolling lawsuits, a person with knowledge of the matter told PE Hub Canada. Balmoral’s fund is earmarked for opportunities in the commercial litigation-finance industry. It is expected to operate like a fund-of-funds, committing capital to an array of established global firms. Litigation finance, or third-party funding of legal disputes in exchange for a portion of the payouts, has recently gained a foothold in North America and Europe.

London Business School research has attempted to answer the age-old question: Who are better buyers, private equity or strategics? The study, which focused on European companies, found PE portfolio companies “significantly” outperformed similar non-PE owned companies during the first three years. Sales at portfolio companies more than doubled, EBITDA doubled and total assets increased close to […]

Firm may hold second close by end of 2016 Credit-focused GP held first close for Fund VIII at $763 mln CNO Financial bought GP stake in Tennenbaum in April Tennenbaum Capital Partners has drawn about $1 billion in LP demand for TCP Direct Lending Fund VIII, with plans to wrap up the credit pool next year, […]

Seven Mile Capital managed legacy Citi PE assets for Ardian Firm completed several direct deals To seek $500 mln for debut fund Ardian has absorbed Citi spinout Seven Mile Capital Partners as its North American direct investment group, which will be seeking to raise about $500 million for its first fund, according to people with knowledge of […]

Firm targets $150 mln for litigation-finance fund-of-funds Vehicle is likely first of its kind Targets esoteric and growing litigation-finance strategy Balmoral Wood Litigation Finance launched a $150 million fund targeted at an emerging industry that specializes in bankrolling lawsuits, a person with knowledge of the matter told Buyouts. Balmoral’s fund is earmarked for opportunities in the […]

HPS Investment Partners targeted $5.5 bln Firm completed spinout from J.P. Morgan Chase in March Louisiana Teachers’ commits $75 mln to Fund III HPS Investment Partners raised around $5.6 billion toward an expected $6.5 billion for its third mezzanine investment fund, its first since completing a spinout from JP Morgan Chase & Co, according to limited-partner […]

Panelists warn to prepare portfolio companies for downturn Pantheon chief says low returns could pressure fees Strong-performing GPs push back on terms The overall consensus at the PartnerConnect West event in San Francisco last month seemed to be one of concern: money is flooding into the market at a time of sky-high prices. Returns are […]

Annex targets $300 mln to support Fund XII portfolio Existing LPs can commit on no-fee, no-carry basis Expected to close this month First Reserve is targeting $300 million for an annex fund to support portfolio companies in its 12th fund, which has struggled through the downturn in oil and gas, according to a limited partner with […]

Andrew Ward resigned Friday: sources Not clear why dealmaker left Riverstone has been in market with sixth flagship fund Andrew Ward, a senior dealmaker at Riverstone Holdings, has left the firm, according to people with knowledge of the situation. Why Ward left is unclear. Ward, who was a partner, resigned Sept. 30, the sources said. Jeffrey […]

CFO John Sinatra left earlier this year Controller Andy Goscinski named CFO VSS in market with third Structured Capital fund John Sinatra, longtime chief financial officer at Veronis Suhler Stevenson, quietly retired earlier this year, Managing Partner Jeff Stevenson confirmed to Buyouts. Sinatra had been with VSS since 1996, according to his Bloomberg profile. Exactly […]