ryanhui@shuntakgroup.com

It’s that time again. The days are shorter. The temperature is dropping. And Buyouts is now accepting nominations for its 20th annual Deal of the Year awards, honoring exceptional buyouts that were fully or mostly realized in 2019. The deadline for submissions is Feb. 10, 2020, but there’s no time like the present to apply. […]

The nuclear option in Senator Elizabeth Warren’s proposed rules to strictly regulate the private equity industry is to hold individual PE partners liable in company bankruptcies. Warren, who introduced her bill earlier this year, attacks various fundamentals of the industry, including the tax treatment of carried interest, the ability of PE managers to write off […]

Clearlake Capital Group is poised to raise $7 billion for its next flagship fund that only hit the market this fall, three sources told Buyouts. Clearlake Capital Partners VI launched targeting $5 billion with a $7 billion hard cap, according to one of the sources. Fund VI is set to hold a first close in […]

ACON Investments, a Washington, D.C. firm, created a new fund to house seven portfolio companies from its 2013 pool, giving the firm more time to manage the investments, sources told Buyouts. ACON completed the fund restructuring process earlier this month, sources said. ICG was the sole buyer on the deal. Total net asset value of […]

Bain Capital’s impact investing platform will continue raising its second fund despite its founder, Deval Patrick, leaving the firm to run for president. Bain is in the early stages of raising Double Impact Fund II, targeting $600 million, sources told Buyouts. The fund is charging a 2 percent management fee and a 20 percent rate […]

Ex-Massachusetts Governor Deval Patrick, co-head of Bain Capital’s impact investing business, is reported to be mulling a presidential bid. Another one of the platform’s senior leaders left over the summer: The executive, Warren Valdmanis, was not a key executive on Bain’s Double Impact fund, which closed on $390 million in 2017, according to a person […]

We had our annual emerging manager conference in late July. One interesting discussion focused on the appropriate commitment a new GP should make to his or her own fund. GP commitments generally fall in a range from 1 to 5 percent of total commitments, according to Buyouts Insider’s PE/VC Partnership Agreements Study 2018/2019. But when […]

Michael O’Connor, the private equity chief for Verizon’s corporate pension fund, retired in June, the company confirmed for Buyouts. Verizon named Stephen Blundin to replace him to lead private equity at Verizon Investment Management Corp, a Verizon spokeswoman confirmed. Blundin has worked at Verizon since at least 2005, according to his LinkedIn profile. He’s focused […]

How much is enough to represent sufficient “skin in the game” as it relates to a new private equity manager’s monetary commitment to his or her own fund? That was a question posed at Buyouts Insider’s Emerging Manager Connect conference in New York this week. The answer? “Effectively, you should mortgage your house, you should […]

LPs are a conservative bunch. As much as they complain about the things they don’t like about GPs, they’re not big on change. And not much will prevent them from opening their wallets to the best performing managers. This is the case with a lot of issues in the PE world — fee structures, for […]