David Toll

It was another busy couple of weeks for U.S. buyout and mezzanine firms, which added more than $3 billion to their year-to-date fundraising tally and more than $14 billion to their year-to-date deal-making tally. Through July 25, U.S. buyout and mezzanine firms had raised $112.4 billion year to date, trailing by 20 percent the year-earlier […]

CPP Investment Board is on the hunt for a senior principal, direct private equity‑technology, media and telecom. The hire will lead deal teams in making and managing long-term, direct equity investments with a focus on North America in evaluating potential principal investment opportunities, conducting research, developing investment recommendations, negotiating terms and executing transactions. Applicants should […]

Fundraising shot higher over the past week thanks to a slew of final closes. Through July 12 U.S. buyout and mezzanine firms had raised $102.1 billion, up from $85.2 billion two weeks earlier but down from $137.2 billion a year earlier. Meantime, firms have so far completed $125 billion in deals, up from $95.1 billion […]

Why Is This Important: Firm sees partial recaps as “great approach to seller’s market” Gamma Technologies last month said it had agreed to sell a stake to private equity shop Cove Hill Partners, marking one of four partial exits so far this year for growth-equity specialist TA Associates. TA Associates, which has more than 70 active portfolio companies, would remain the largest […]

YTD, TA has completed four partial recaps Did four in all of last year New Gamma investor is Cove Hill Gamma Technologies last month said it had agreed to sell a stake to private equity shop Cove Hill Partners, marking one of four partial exits so far this year for growth-equity specialist TA Associates.  TA Associates, which has […]

Executive turnover is a returns killer. What can you do to minimize it? Unfortunately, turnover is a fact of life for private equity firms. Research from management consulting firm AlixPartners suggests that nearly three-quarters of portfolio-company CEOs don’t last during the holding period of the typical investment. And the timing of their departure is often poor. […]

Some buyout shops seem susceptible to losing talent to spinout groups. Around the time Castle Harlan said it was pulling the plug on raising Fund VI in 2015, for example, four executives from the firm, including former Co-President Howard Morgan, emerged as founders of a new New York-based buyout shop called Argand Partners. The new shop […]

Suzanne Yoon, an ex-managing director at Versa Capital Management and founder last year of Kinzie Capital Partners, finds that the lower-mid-market companies she vets for investments can often be woefully behind when it comes to technology. Among the problems she might encounter: companies lacking chief information officers or chief technology officers; companies whose e-commerce websites […]

It is not exactly a good time to ask top-performing firms to cut their carried interest percentage or to accept a no-fault divorce clause. Demand for slots in top funds is way too intense. Still, institutional investors continue to fight hard for LP-favorable terms with first-time funds and other emerging managers. Much of the negotiating centers […]

Two thirds of institutional investors responding to a recent survey picked the “level of general partner financial commitment to the fund” as the partnership term they focus on most when deciding whether to invest in a fund or to advise a client to do so. Investors like to see a healthy GP commitment because it so neatly […]