Insight

Wells Fargo industrials banker Casey Rentch joined Goldman Sachs as the bank seeks to capture a larger share of the middle-market advisory and financing market. Rentch, who spent 14 years at Wells Fargo, will join Goldman Sachs next week as a managing director focused on the industrial sector, out of Atlanta. He will be part of […]

KPS Capital Partners LP, which just finished fundraising, exited International Equipment Solutions after eight years. Angeles Equity Partners said Tuesday, Nov. 5, that it acquired Crenlo Cab Products LLC. Crenlo was the remaining unit of IES that KPS still owned. With the sale, KPS made 3x its money on its overall investment in IES, a source […]

Commercial banks are increasingly evaluating opportunities to buy boutique M&A firms as they look to add capabilities in dealmaking areas like healthcare, according to a senior banker at Freeman & Co, a boutique firm which specializes in selling other boutique investment banking franchises. If he had to choose, the healthcare, technology and consumer industries are […]

Fiserv’s sale of its wealth platform has progressed to the final rounds, but the winner is still unclear, sources said. Thoma Bravo and Thomas H. Lee Partners were making a run for the unit, two people said. One GP mentioned Broadridge as possibly involved. “Thoma and THL are no longer in the process,” said a […]

Goldman Sachs launched a dedicated middle-market advisory and financing effort earlier this year, pushing into the market for companies—sponsor and non-sponsor backed—with enterprise values of $500 million to $2 billion. Goldman expects more than 100 bankers to work on the middle-market team, called Cross Markets Group. Three senior bankers, David Friedland, Will Bousquette and Rob […]

In 2015 the secondary market was split evenly between non-traditional buyers and secondary specialists, defined as all investment entities actively looking to purchase closed funds on the secondary market, according to the Triago Quarterly Report. But since then, non-traditional buyers have taken up more and more of the secondary market, reaching 56 percent in 2018.

U.S.-based buyout and mezzanine fundraising had another huge boost, continuing a strong push to start the fourth quarter of 2019. Since the last issue of Buyouts, fund managers added $18.4 billion to its year-to-date total, now at more than $269.5 billion. KPS Capital Partners led the pack. The firm’s fifth flagship fund closed on $6 […]

While large buyout funds are selling at a record 100 percent of net asset value, the average secondary market pricing through the first three quarters of 2019 stands at 93 percent of net asset value, slightly down from the 2018 total of 94 percent, according to The Triago Quarterly October 2019.

PRIVATE EQUITY FIRMS Welsh, Carson, Anderson & Stowe promoted three executives to general partner: David Caluori, Ryan Harper and Frances Higgins. The firm also appointed Lee Cooper, Tim Clifford, Emanuele Conti and John Fay as operating partners. Cooper was president and CEO of GE Healthcare Systems, U.S. and Canada; Clifford was president and CEO of […]

Nvision Eye Centers, a founder-owned provider of Lasik and cataract surgery, is evaluating a potential sale, according to four sources. Harris Williams has been retained to provide financial advice to the Aliso Viejo, California company, three of the sources said. It is unclear if a process has formally launched. One of the sources added that […]