Joseph Weitemeyer

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.

On the Move: A roundup of comings and goings in the private equity industry.

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 […]

PRIVATE EQUITY Rhône Group re-appointed Ambassador John Bolton as a senior advisor. He previously served as national security advisor to President Trump. KKR named Diego Piacentini as a senior adviser. Piacentini is a former senior vice president of Apple’s international consumer business. Argand Partners promoted Ryan Beres to senior associate. Beres was previously an investment […]

This year has been a struggle for nearly 100 PE-backed companies. As of Oct. 7, there were 99 companies to receive a distressed credit rating, up 29 percent from this time last year. These distressed ratings are defined as an issuer credit rating of B- or lower with a negative outlook from Standard & Poor’s […]

U.S.-based buyout and mezzanine fundraising started off the fourth quarter of 2019 as aggressive as it has been all year. Since the last issue of Buyouts, fund managers added $5.1 billion to the year-to-date total, which is now more than $251 billion. Paine Schwartz led the latest round of fundraising with the close of its […]

Fundraising is a large determinant for staffing changes, and as fundraising swells firms hire people to help put more money to work. Forty percent of firms planned to add senior investment professionals to their staffs in 2019, up from the 29 percent from 2018, according to the 2019-2020 Holt-MM&K-Buyouts PE/VC Compensation Report.