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Oak Hill targets $3 bln for buyouts Fund IV Firm narrowed investment focus Runs process to buy out existing LPs, inject fresh capital Oak Hill Capital is running a stapled secondary process as part of fundraising for its fourth buyout fund, targeting $3 billion, two people with knowledge of the situation told Buyouts. It’s not […]

Shulman-led firm surpasses target by $30 mln Juggernaut agrees to acquire Mitchell & Ness Firm’s 2012 vintage fund netting 10 pct IRR Juggernaut Capital Partners closed its third flagship on $380 million, surpassing its target by $30 million, the firm told Buyouts. “We had a very positive fundraising effort altogether,” founder and Managing Partner John […]

CalPERS PE chief requests reimbursement from TH Lee Accuses firm of collecting fees without disclosing in LPAs TH Lee aggressively defends past practices The nation’s largest public pension fund has been engaged in a bitter dispute with Thomas H. Lee Partners over accelerated monitoring fees, Buyouts has learned. In correspondence obtained by Buyouts, Real Desrochers, private […]

Firm: Cerberus Capital Management Fund: Cerberus Institutional Partners VI LP Target: $3.5 bln Hard Cap: $4 bln Amount raised: Nearly $3 bln Placement Agents: Axius Partners Pty; Monument Group Cerberus Capital Management is nearing $3 billion for its flagship distressed debt and buyout pool, Cerberus Institutional Partners VI LP, after launching the effort in 2015, […]

The private equity group of Brookfield Asset Management has wrapped up its fourth fund, raising US$4 billion earmarked for mid-market buyouts, turnarounds and other special situations. Brookfield Capital Partners IV’s total came in 14 percent above the fund’s original target of US$3.5 billion. BCP IV is Toronto-based Brookfield’s largest private equity fund to date, raising more money than all of its predecessors combined.

TA Associates sold its minority stake in ION Trading after nearly a dozen years and is expected to make nearly 4x its money, according to two sources familiar with the situation. Carlyle Group said May 31 it was investing about $400 million in Ion Investment Group for a minority stake. ION Investment is the holding company for […]

Funds from CPG Carlyle, Altegris KKR grow larger Some have minimums of $25,000 Smaller institutional investors also taking part Partners Group Private Equity Fund topped $1.5 billion in assets under management in the past year as the largest in a growing class of funds reaching out to qualified individuals and smaller institutional LPs. After Partners […]

Chalk up one more reason that internal rates of return can be misleading — and one more reason that the industry needs to emphasize that they are not equivalent to compound annual growth rates. With interest rates low, growing numbers of buyout firms use capital-call bridging facilities to cover the equity portions of their deals in the early months. Sometimes the loans cover […]

Firm: Solace Capital Fund: Solace Capital Special Situations Fund, L.P Target: $500 mln Amount Raised: $388.9 mln Placement Agent: Eaton Partners Solace Capital Partners has raised $389 million in commitments and deployed about $100 million for its inaugural fund, according to sources. The Los Angeles firm led by Oaktree Capital Management veterans recently held a […]

Gibson to return to Goldman Sachs Specialty Lending Group Gibson worked for Twin Brook for one year, where he was a partner Chris Martin and Peter Notter leave Madison Capital Funding for TwinBrook David Gibson has left Twin Brook Capital Partners, the middle-market direct-lending team of Angelo, Gordon & Co, after a year. He is […]