Firms and Funds

Babson Capital, a unit of MassMutual, has closed its third mezzanine and private equity fund with $1.58 billion in capital commitments. It plans to invest in companies with enterprise values of less than $200 million.

Private equity firm 3i has seen its share price continue on its downward trend. They have fallen from 356p on December 9 to 333p yesterday. In this morning’s trading they dropped to 315p, or by 5% from the day before, suggesting that investor fears about private equity are growing. A year ago, shares in the […]

Is American Capital best served as a BDC? There are some indications that CEO Malon Wilkus could be leaning in a different direction. He’s discussed it at a number of investor meetings and regularly compared American Capital to Danaher Corporation (DHR), which is a C-corp. American Capital would probably prefer to stay a BDC, as it has been for the last ten years. But if the environment stays this volatile, it could find shelter in a different structure. Out of all of the BDCs that are hurting right now, this option is really only open to American Capital. It’s the only one with enough control investments to make the switch and maintain the required 55% control investment minimum. American Capital has control stakes in around 50% of its investments. A simple sell-off of some loans could tip the scales. The benefits of American Capital making the switch are as follows: As it

Carlyle Partners is raising a financial services fund called Carlyle Global Financial Services Partners LP. According to an October regulatory filing, the fund has an offering amount of $5 billion. CalPERs has committed to the fund. According to a CalPERs report, the fund has raised $600 million to date with a $1 billion target.

ECI Partners, a middle market buyout firm based in the UK, has topped the fundraising target on a new fund. It secured $641 million (£430 million) for the effort, which is called ECI 9. Press Release ECI Partners (“ECI”), a leading UK mid-market buy out specialist, has held the first and final close of its […]

Kensington Capital Partners Limited, a Canadian private equity fund, has invested $500,000 in Bedford Capital IVC LP, a fund operated by Toronto-based Bedford Capital. PRESS RELEASE: Kensington Capital Partners Limited, Canada’s leading independent private equity fund investor, is pleased to announce an investment of $500,000 by the Kensington Global Private Equity Fund in Bedford Capital […]

Accel Partners has announced the closing of Accel Growth Fund, an extension of its core venture fund, with $480 million in commitments, and the closing of Accel London III, its Europe and Israel investment fund, with $525 million in commitments. Read more. December 11, 2008 – Palo Alto and London: Accel Partners, a leading global […]

Guggenheim Partners has expanded into India by acquiring the India-focused private equity fund of funds operated by Thomas Weisel Partners. The funds, called Thomas Weisel India Opportunity Fund, will retain their managers. Press Release: Guggenheim Partners, LLC today announced an expansion of its investment management capabilities into India via a transaction with Thomas Weisel Partners […]

PE firms entering China face a lot of headwinds. There's the idea that, aside from a few homeruns, most investments in the region are underwater. Or that LBOs have no liquid exit opportunities. Or that leverage isn't readily available. And of course there's the country's country's notoriously opaque and shifting legal system. "Investors must also file dozens of forms to local tax offices to complete legal registration of a deal or joint venture company. Different bureaucracies within the country make different demands," a recent Reuters story laments. Adding to the problems, sellers in the country like to "take advantage of (a U.S. dealmaker's) need to close a deal quickly," according Andrew Marino, a principal with The Carlyle Group. Speaking last night on a China-focused panel discussion sponsored by Ernst & Young and Columbia

HONG KONG (Reuters) – Harvest Capital Partners, a property investment firm backed by state conglomerate China Resources Group, aims to raise a new fund next year as its two existing property funds totalling US$1bn are fully invested. The firm, headquartered in Hong Kong and mainly funded by investors from the United States, the United Kingdom […]