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Adams Street launches private credit platform Hires two former Oaktree mezzanine executives Not clear if group will raise an external fund Adams Street Partners has hired two former Oaktree Capital Management executives to set up a private credit unit to take advantage of the “secular trend” of banks retreating from mid-market lending. Adams Street, based in […]

Newfoundland and Labrador’s public pension funds are creating a first-time allocation to alternative assets with the help of Caledon Capital Management, a Toronto-based portfolio management and advisory firm. Newfoundland and Labrador Pooled Pension Fund, which oversees $9 billion in assets, decided on a market strategy in 2013 that called for a target allocation of five percent each for private equity and infrastructure.

Strategic mix complicates benchmarking Less than half of New Jersey accounts are top quartile for PE Breaking down accounts Private equity separate accounts often feature bespoke investment strategies and reduced fees, making them a popular option for limited partners like the California Public Employees’ Retirement System and New Jersey Division of Investment. LPs committed $127 billion to separate accounts between […]

Craft beer deals proved a refreshing treat for private equity firms in 2015 as the value of deals in the consumer sector tripled that of the prior year. Globally, there were 64 beer company mergers in 2015, according to Dealogic. Total beer volume stood at about $133 billion, driven by Anheuser-Busch InBev’s $106 billion buy of SABMiller, Dealogic […]

Lindsay Goldberg LLC, which just finished fundraising for its fourth pool, is exiting U.S. government contractor PAE after more than five years. Platinum Equity said Tuesday it agreed to buy PAE. Financial terms weren’t announced, but a sale was valued at close to $900 million, Reuters reported in December. The sale comes after Lindsay Goldberg closed […]

Therapure Biopharma, a Canadian biopharmaceutical company owned by Catalyst Capital Group, has set the terms of its previously announced initial public offering. Therapure is seeking about $130 million, according to an IPO prospectus amended earlier this month. The offering includes a secondary sale by Catalyst.

Leonard Green sets $9.1 bln hard cap on Fund VII Raising target from $7.5 bln to $8.5 bln Has demand well over the cap Leonard Green & Partners boosted the target on its seventh fund to $8.5 billion and set a hard cap at $9.1 billion, according to three people with knowledge of the fundraising. […]

True Wind collects more than $200 mln Targets $400 mln for debut fund Terms are 2 and 20 True Wind Capital, a tech-focused firm launched by two former Kohlberg Kravis Roberts executives, has raised more than $200 million of the $400 million it seeks for its debut fund, according to two limited partners with knowledge of the […]

Louisiana Teachers’ commits up to $100 mln Firm has $1.95 bln circled Kelso increased GP commitment from $500 mln to $625 mln Kelso & Company plans to hold a final close at or around its $2.5 billion target for its ninth fund at the end of March, a market source said. To date, the firm has […]

An investor group led by Monarch Alternative Capital is battling for control of American Apparel Inc. On January 20, U.S. Bankruptcy Court Judge Brendan Shannon will decide between a reorganization plan put forth by the retailer’s creditors, led by Monarch, and a competing bid by American Apparel founder Dov Charney. American Apparel said on January 11 […]