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Wellspring Capital Management has put Great Lakes Caring up for sale, three sources said. Houlihan Lokey is advising on the auction, the people said. Refresh bids — proposals received after the second round that are meant to winnow the field to two or three parties — are due this week, one of the sources said. Wellspring is […]
private equity, House of Representatives, Jeb Hensarling, Robert Hurt, Bill Foster, Dodd-Frank
HR 5424 passes 261-145; 35 Democrats vote in favor President Obama promises veto ILPA, CalPERS oppose the bill The private equity industry scored a significant legislative victory on Friday after the House of Representatives passed a bill that would roll back certain regulatory requirements instituted by Dodd-Frank. The Investment Advisers Modernization Act of 2016, sponsored […]
Sherlock Holmes, private eye, detective, sleuth, sherlock shutterstock_110867483
Madison Capital’s recent push into technology lending is bearing fruit. The Chicago mid-market lender, which in the first quarter formalized and beefed up what had been an ad hoc approach to technology, has racked up six tech platform deals so far this year, with two more expected to close by the end of October and as many as four more […]
Texas Municipal Retirement System, private equity, pension fund, Updata Partners
Firm ups Lone Star Fund X target by $1 bln Predecessor fund has made 26 investments Distressed asset specialist raised $7.4 bln for Fund IX Lone Star Funds, the distressed asset specialist, upped its target for its latest flagship pool by $1 billion, with $6 billion now intended for Lone Star Fund X, according to […]
AEA Investors, private equity
Firm: AEA Investors Fund: AEA Small Business Fund III Target: $350 mln Amount raised: $443.1 mln Law firm: Kirkland & Ellis AEA Investors held a final close for AEA Small Business Fund III with $443 million, 21 percent ahead of its $350 million target, in a rapid fundraise, according to sources. The New York firm […]
Clayton Dubilier & Rice, KKR, CD&R, private equity
CD&R could target at least $8 bln for Fund X Fund to launch later this year or early next year Firm has been a strong performer Clayton Dubilier & Rice has been in discussions with limited partners about its next flagship fund, which could launch later this year or early next year, according to three […]
Silver Lake Partners, private equity, technology, credit, lending
SEC asks CalPERS for communications with Silver Lake about fees Not clear why SEC needed to go to firm’s LP for information SEC probing Silver Lake on fee acceleration, says WSJ The Securities and Exchange Commission earlier this year subpoenaed California Public Employees’ Retirement System for communications with Silver Lake related to investments it has made with the firm. […]
private equity, pension funds, California, transparency, Jerry Brown
Chiang: Beneficiaries can see “behind the curtain” of PE AB 2833 clears legislature with unanimous votes Bill goes to Gov. Brown, who has 30 days to decide California’s private equity transparency bill is on its way to Gov. Jerry Brown’s desk, its final hurdle to becoming law. AB 2833, sponsored by Assemblyman Ken Cooley and State Treasurer […]
Abry, private equity
Only 3.4 pct of North American buyout funds charge 30 pct carry Boston-based firm also sets 9 pct hurdle rate ABRY Heritage Partners targeting $525 mln ABRY Partners will carve out a larger share of investment profits with its debut lower-mid-market fund, fund terms published by Los Angeles City Employees’ Retirement System show. The firm will take […]
Apollo Global Management, private equity, Leon Black, SEC
SEC finds fault with monitoring-fee disclosure, some expenses SEC says firm failed to disclose certain interest payments Apollo had reserved $45 mln; neither admits nor denies allegations Apollo Global Management agreed to settle with the Securities and Exchange Commission for $52.7 million after the agency alleged that the firm misled investors and failed to protect fund clients […]

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