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Firm: Angeles Equity Partners Fund: Angeles Equity Partners I Target: $300 mln Amount raised: About $300 mln Placement Agents: Moelis & Co, GCA Savvian Advisors, LLC Angeles Equity Partners is nearing the finish line on its debut buyout pool with $300 million in commitments expected, after a busy year that included fundraising and closing two platform […]

Penfund, one of Canada’s oldest private equity firms, has wrapped up its fifth mid-market fund, raising $724 million in committed capital with the help of an expanded investor base. Penfund Capital Fund V shot past its original goal of $525 million earlier this year. Last week it was closed above its hard-cap target of $700 million. The fund is the largest in Penfund’s 37-year history, exceeding by 57 percent the $460 million secured by its predecessor in 2012.

“You have to make sure it’s fair and reasonable,” says Swire Lower inflation translates to a lower base rate of acceptable returns Pantheon founder bullish on infrastructure A decade of low or non-existent inflation lowered the bar for private equity returns. General partners and investors should prepare accordingly, Pantheon founder Rhoddy Swire told the audience at […]

Panel expects a recession at some point Important to have lenders in place willing to work through tough times Trump election could negatively hit public markets A panel of private equity executives looking toward 2017 agreed that a U.S. recession lurks at some point in the future and said lining up favorable financing partners will […]

True Wind surpasses $400 mln target on Fund I Fund to close by year’s end Hires Vista Associate Matt Wilson True Wind Capital, formed by two KKR executives, surpassed the $400 million target on its debut fund and will likely hold a final close by year’s end, according to a person with knowledge of the […]

Sarkozy resigned as head of Carlyle’s financial-services group in May Has locked up a chunk of commitments for new fund May target up to $1.5 bln Olivier Sarkozy, the financial-services-focused executive who stepped down at Carlyle Group earlier this year, is working to launch his first fund, three sources told Buyouts. Sarkozy’s firm will focus […]

Platinum to close on about $4.2 bln No official cap; could be set at $5.5 bln Original target was $4.5 bln Platinum Equity is set to close on around $4.2 billion as it heads for the cap on its fourth fund, according to a person with knowledge of the fundraising. Fund IV is seeing heavy demand, […]

Rep. Hurt bill targets specific disclosure, reporting requirements HR 5424 unlikely to get taken up in Senate CalPERS, ILPA declare their opposition Private equity’s lobbying arm scored an important victory earlier this month when the U.S. House of Representatives passed the Investment Advisers Modernization Act of 2016, which would eliminate certain disclosure requirements instituted by […]

While U.S. private equity firms are a growing presence in Canada’s mid-market, not that many have taken the step of opening a local office to source deals and keep tabs on portfolio companies. One of the few is Swander Pace Capital (SPC), a specialist in buyouts of lower mid-market consumer products companies. SPC opened a Toronto office seven years ago and hired Principal Valerie Scott to run it. PE Hub Canada sat down with Managing Director Andrew Richards and Scott to talk about SPC’s Canadian investment strategy, deals and the recent close of its sixth fund.

SEC drops fee issue it had highlighted in proposed settlement Said fees portfolio companies paid to senior advisors should have been offset Final settlement included smaller fine First Reserve agreed to a settlement with the SEC over issues of fees and expenses that was smaller than proposed earlier this year — possibly because one issue described in the […]