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Omaha-based McCarthy targets $325 mln Total to include $50 mln GP commitment Nebraska, Montana among Fund VI limited partners Recent commitments from the Nebraska Investment Council and Montana Board of Investments should put McCarthy Capital within reach of its sixth fund’s $325 million target. McCarthy, a 30-year old firm based in Omaha, Nebraska, received up to […]

HIG Capital is seeking a buyer for Onyx Payments, according to sources. The Miami-based private equity firm is seeking bids “deep in the threes” — high $300 millions, said one of the sources, a banker. Robert W Baird & Co is advising on the process, sources said. First-round bids are due soon, the banker said. HIG’s […]

The auction of AssetMark Inc is heating up, with final bids due in mid-March, three sources said. Private equity and “real” strategics — companies not backed by PE firms — have taken part in the highly competitive auction, sources said. “Tons of PE firms” looked at AssetMark, which went up for sale earlier this year, one of […]

A decision last August by the National Labor Relations Board continues to throw into question the tidy arm’s length relationship that private equity shops have maintained with their portfolio companies. Under a worst case scenario, sponsors may find themselves involved in collective bargaining with unions at portfolio companies, liable for any unfair labor practices, and on the hook for pension contributions. […]

Brad Nathan, president of Lynx Equity, says he launched his Toronto-based private equity firm in 2007 because he “has always been interested in owning small businesses.” Nine years on, that ambition appears to have been fulfilled with Lynx controlling some 40 North American mid-market companies sold to it by retiring family owners.

Webster Capital is putting eating disorder treatment facility operator Discovery Practice Management Inc up for sale, three sources said. Cain Brothers is advising on process, which is expected to start later this year, one of the sources said. Discover Practice Management, which does business as the Center for Discovery, has grown from $3.5 million EBITDA in 2011 […]

Firm: BDT Capital Partners Fund: BDT Capital Partners Fund II Target: $5 bln – $6 bln Amount raised: $6.2 bln Byron Trott, known for working with Warren Buffett and other billionaire clients, recently closed his second fund at $6.2 billion, as the ex-Goldman Sachs banker aims at a longer investment period than traditional vehicles, according to […]

Firm to split GP commitment between cash, fee waiver Percentage of GPs using waiver falls to 16 pct “Large funds just don’t deal with it anymore,” says one LP Tenex Capital Management’s commitment to its second flagship fund will be split evenly between a cash contribution and a management fee waiver, according to an investment memo […]

Carlyle to wind down DGAM Solutions ‘refocusing’ on secondaries, managed accounts Solutions reported lower ENI last year Carlyle Group will shutter its fund-of-hedge-funds Diversified Global Asset Management as it works to rebalance its Investment Solutions business unit. Bloomberg was first to report that Carlyle decided to shutter Toronto-based DGAM, which the firm acquired in 2014. The […]

Fundraising for first-timers is getting harder LPs pull away from first-timers as markets wobble Outlook for first-timers remains sluggish It’s always hard for a fledgling private equity firm to raise a debut fund, though LPs for the past few years have been more willing to explore relationships with first timers. This was a product of […]