Insight

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 […]

Private equity is apparently picking up another wealth manager. Ladenburg Thalmann, a network of five independent broker-dealers, is in talks to be sold to Advisor Group, Bloomberg reported Nov. 1. Jefferies is advising on the process, sources said. Bids for Ladenburg were due last week, according to a GP who passed on the deal. Ladenburg […]

Riverside Company wants to build out its education technology platform after the recent merger of OmniUpdate and Destiny Solutions. Earlier this week, Riverside acquired OmniUpdate, an internet content management system (CMS) provider for higher education clients. As part of the deal, the firm simultaneously merged OmniUpdate with Destiny Solutions, a provider of student lifecycle management […]

CBRE Caledon Capital Management recruited Darrin Pickett as vice president of asset management, Buyouts has learned. Pickett joined following a 23-year career, roughly half of it working with Ontario Teachers’ Pension Plan. He was most recently a senior principal in Ontario Teachers’ infrastructure and natural resources group, where he led the development and execution of a […]

Despite more emerging managers bringing funds to market, fundraising brought in its third lowest amount of the year. Eleven fund managers raised more than $771 million from Oct. 9 through Oct. 22, according to Buyouts data. Year to date, new managers have raised a combined $45.1 billion, according to Buyouts. BlackFin Capital Partners raked in […]

Quilvest Private Equity is weighing options for Command Alkon, a construction software and supply chain provider, three sources familiar with the process told Buyouts. William Blair will be advising Command Alkon on the potential sale, the people said. Quilvest Private Equity, the PE arm of global asset manager Quilvest Group, may kick off the sale […]