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Arbor Investments turned its buy of Gold Standard Baking Inc into more than just a sweet deal by boosting the company’s production of croissants five-fold and adding a heaping scoop of new customers. Arbor sold Gold Standard Baking in April 2015 to Parallel49 Equity (formerly known as Tricor Pacific Capital Inc). The Chicago private equity firm made […]
Private equity is no longer in the running to buy AssetMark Inc, three sources familiar with the situation said. Final bids for AssetMark were due March 14, sources said. The private equity firms that submitted final bids include Advent International Corp, which teamed up with Lovell Minnick Partners LLC, to make an offer for AssetMark, two of the […]
Fundraising, GP, Hill Path
Scott Ross holds first close for debut fund Worked at Apollo, Goldman Sachs Firm to invest in common stock; private companies Ex-Apollo Global Management partner Scott Ross held a first close on his debut fund, which invests in public equities as well as privately held companies, according to people familiar with the New York firm, Hill Path Capital. […]
SEC, law, private equity, regulation, compliance
Eyes SEC interest around zombie funds SEC trying to work closely with private equity Regulators down on accelerating monitoring fees Aaron Schlaphoff, who recently joined Kirkland & Ellis as a partner after working at the Securities and Exchange Commission, in an interview with Buyouts flagged compliance issues for GPs around zombie funds, accelerated monitoring fees and other potential sticking […]
Sherlock Holmes, private eye, detective, sleuth, sherlock shutterstock_110867483
Despite my best intentions to get to the bottom of every story, I’ve recently run into a handful of private equity funds whose strategies and capital sources remain unfathomable. My calls and research led to some tantalizing tidbits but incomplete narratives. Pantheon Ventures manages $400 million for two mystery investors Pantheon Ventures, the London fund-of-funds manager with $32 billion in assets under management, filed Form Ds with […]
CalPERS, pension fund, private equity
PE investment officer Scott Brown left in January Joined CalPERS in 2013 and worked on the PE co-investment team Appears to have started business called Inefficient Market Labs Scott Brown, a private equity investment officer at the California Public Employees’ Retirement System, left the pension in January, a CalPERS spokesman confirmed. It’s not clear when […]
Robert Smith, Vista Equity Partners.
Vista Foundation Fund III targets $2 bln Second small-cap fund raised $1.1 bln in 2013 Vista is in market with three funds Vista Equity Partners has set a $2.5 billion cap on its third small-market fund, which is targeting $2 billion, according to a limited partner who has heard the pitch. Vista’s Foundation Fund III […]
LA Fire and Police Pension expects other LPs to follow lead LAFPP also adds GPs who are disabled veterans to mandate “First time I have ever seen this,” says one LP advisor The Los Angeles Fire and Police Pensions will expand its private equity emerging manager program to include funds owned and managed by lesbian, gay, […]
Special Credit Partners III core fund targets $1.5 bln Reserve fund targets $3.5 bln Reserve fund to be activated only if opportunities arise Centerbridge Partners is in market with its third distressed debt fund that will put a bulk of capital in reserve to spend if the market spirals downward, according to a limited partner […]
Enhanced Equity Funds is close to selling urgent care provider NextCare Holdings Inc, two sources said. It’s not clear who is buying the company, but the party is from the United Kingdom, the sources said. Jefferies is advising on the process, sources said. NextCare is selling for a multiple in the mid-teens, one of the […]
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