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ABRY Partners has closed its Advanced Securities Fund with $700 million in capital commitments, according to Buyouts magazine. It had originally targeted $800 million for the fund, which will buy debt in struggling media companies. Read more (sub. req)
NEW YORK (Reuters) – Kohlberg Kravis Roberts & Co’s Amsterdam-listed fund KPE said on Monday that KKR was re-evaluating a previously-announced deal to buy out the fund, throwing doubt on KKR’s plans for a U.S. stock listing. KKR’s plans to become a publicly-traded company hinge on the deal to buy the fund, and if that […]
LONDON (Reuters) – The future of Candover’s 2008 fund hangs in the balance after the private equity firm’s main backer said it will stop investing in the fund as a lack of cash severely curtailed its ability to invest. Candover Investments Plc CDI.L said it is looking at a range of strategic options as it […]
Sponsor: ABS Capital Partners Target: Alarm.com Seller: MicroStrategy Inc. Purchase Price: $27.7 million ABS Capital Partners had the advantage of an inside track for its latest acquisition, the purchase of Alarm.com, a McClean, Va.-based provider of wireless and web-enabled security technology. It turns out the target was previously overseen by Richard Terkowitz, a partner at […]
Firm: iEurope Capital LLC Fund: iEurope Fund II LLC Target: $100 million Placement Agent: Denning & Company Legal Advisor: Pepper Hamilton New York-based iEurope Capital LLC has started marketing its second fund, hoping to gather up to $100 million for investment in high-growth companies in Central Europe. A first close for iEurope Fund II LLC, […]
The $155 billion New York State Common Retirement Fund, or NYSCRF, is looking to fill a newly-created position of director of private equity. The person hired will replace Nick Smirensky, who left the deputy CIO and head of private equity investing positions with the limited partner in October to create an investment program for the […]
The $81 billion Teacher Retirement System of Texas (TRS) recently unveiled two pledges totaling $400 million for a pair of captive accounts managed by Credit Suisse’s Customized Fund Investment Group. The latest commitments, however, represent a small part of the roughly $2.5 billion the pension fund intends to commit to private equity in 2009. The […]
It is a time of great turmoil in the world of private equity, and Bruno E. Raschle, CEO of fund-of-funds manager Adveq, is expecting new opportunities and new challenges as the industry undergoes significant change
Whilst the European VC industry worries over its portfolio companies, one investor is confident that pressure on prices is creating opportunity.
Blackstone’s CEO Stephen Schwarzman, who didn’t take a bonus this year, sounds pretty frustrated with the public market’s attitude to Blackstone’s stock. A discussion about the firm’s dividend — it is eliminating the fourth quarter but thinks 2009 will be OK — turned into an exercise in thinking aloud tinged with annoyance. COO Tony James explained succintly on a conference call with analysts how Blackstone’s cashflow meant the dividend looked pretty secure. Schwarzman added: “Its frustrating