Steve Bills
This ain’t no pillow fight. A boardroom brawl over the now-public bedding company Sealy Corp. is shining a spotlight on the array of fees that buyout firms charge to companies in their portfolios.
Company: Annie’s Inc. Offering: $95 million Sponsor: Solera Capital LLC Underwriters: Credit Suisse, JPMorgan Solera Capital LLC earned a return of $77.3 million when portfolio company Annie’s Inc. went public Wednesday, as the New York buyout shop sold 4.4 million shares at $19. Solera Capital, known for being founded by women in a business dominated […]
Firm: Catterton Partners Fund: Catterton Growth Partners LP Sector Focus: Consumer goods and services, including food and beverage; retail and restaurants; consumer products and services; and media and marketing services. Founded: 1990 Strategy: Equity checks of $10 million to $30 million for control investments in fast-growing consumer companies Investment Pros: 11 partners With a fledgling […]
The buyouts market ought to be performing well, but dealmakers are struggling to break out of a persistent sluggishness that is holding activity back, says Hugh MacArthur, a partner at the consulting firm Bain & Co. and head of the its global private equity practice. “The real headwind is economic uncertainty,” said MacArthur, the lead […]
While much of the focus of the JOBS Act has been on its impact on entrepreneurs, the bill also could have significant effects on buyout shops, lawyers say. For one thing, the bill, which is rocketing toward adoption in Congress, and which President Barack Obama has said he will sign, could ease restrictions that buyout […]
Firm: The Blackstone Group LP Fund: GSO Capital Opportunities Fund II Target: $3 billion to $3.75 billion Amount Raised: $4 billion Placement Agent: None Legal Counsel: Schulte & Roth The Blackstone Group LP has closed is sophomore mezzanine fund, GSO Capital Opportunities Fund II, with $4 billion in investor commitments, the New York megafirm confirmed […]
Firm: The Carlyle Group Fund: Carlyle Partners VI LP Target: $10 billion Placement Agent: None In what may be a first for the buyouts industry, The Carlyle Group is offering investors an easy way out of its planned Fund VI, according to people familiar with the plan. A provision in the PPM for Carlyle Partners […]
The economic recovery of 2011 strongly favored larger deals in the U.S. mid-market, says Andrew T. Greenberg, the CEO of GF Data Resources, a tracker of buyout transactions. Indeed, the difference in value between mid-sized and smaller deals, measured by turns of EBITDA, has ballooned. “It’s unprecedented,” said Greenberg. “That differential has always been there, […]
Conversus Capital LP could hasten its wind-down by offering itself to the highest bidder. Conversus, the world’s largest publicly traded fund of funds, said on Feb. 27 that it has begun a formal review of its strategic options, including a possible sale.
Firm: PPM America Capital Partners LLC Fund: PPM America Private Equity Fund IV LP Target: $200 million Amount Raised: None The Chicago investment manager PPM America Capital Partners LLC is launching its fourth private equity fund of funds with a target of $200 million, according to a regulatory filing. The firm has not yet raised […]
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