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Steve Gelsi

private equity, M&A, mergers, Riverstone, Apollo Global Management, Talen Energy, electricity, utilities
Take-private transactions gain traction Riverstone pays 4.2x EBITDA for Talen Energy Bucking trend, Vista pays up for Cvent Super-strong equity prices, aggressive strategics and cautious GPs have added up to a meager crop of take-privates by private equity firms nowadays. But as resourceful GPs find their comfort zones on prices here and there, take-privates remain […]
What’s your favorite deal or portfolio company that you’ve worked with recently, and why? I worked a fair amount with Critical Flow Solutions, which we sold to Circor International in October for an enterprise value of $210 million. We did quite well on it. The company’s CEO, Ruben Lah, was not a traditional, highly polished […]
The vintage 2011 Cortec Group Fund V, L.P., a domestic buyout and corporate finance fund, earned a 2.8x multiple and an IRR of 52.8 percent as of Dec. 31, 2015 for the State Board of Administration of Florida. The performance beat the 20.3 percent top quartile threshold for vintage 2011 funds, according to an analysis […]
Charming Charlie, private equity, Hancock Park Associates, Moody's, debt
Houston retailer faces competition from larger players Hancock Associates fund owns minority stake Charming Charlie made $10 mln debt payment in May   Charming Charlie, a Houston retailer backed by Hancock Park Associates, will be challenged to comply with its financial maintenance covenants over the next year in the face of weak operating performance, according […]
Lupin Capital, Asia, Jeff Leng, General Atlantic, private equity
Firm: Clearwater Capital Fund: Clearwater Capital Partners Fund V Target: Undisclosed Placement Agent: MVision Clearwater Capital Partners, the Hong Kong- and New York-based credit investor in Asia, has lined up MVision as placement agent for Clearwater Capital Partners Fund V, according to a filing. The filing lists $5 million for the placement agent sales commission. It did […]
Peter Nolan worked at JP Morgan for 14 years Kevin Burke spent 12 years at GE Capital Burke retiring after 40 years in the trade Antares Capital executive Peter Nolan in 2017 takes up the reins as senior managing director, head of loan syndicate sales and trading, after a 40-year veteran in the trade retired, […]
EIV Capital, oil and gas, energy, private equity
Firm: EIV Capital Fund: EIV Capital Fund III Target: $450 mln Amount raised: $341.7 mln Placement Agent: Champlain Advisors EIV Capital, the Houston investor in energy-sector infrastructure, more than doubled the target of its third buyout fund compared with its predecessor, while remaining active on the acquisition trail. EIV Capital said it raised $341.7 million toward […]
Chris Coetzee, Baird Capital, private equity, mergers, M&A
Shift to more platform acquisitions possible Expensive prices have stoked more add-on and build-up efforts LPs may reallocate more capital into PE   Sure, M&A bankers may be known for their optimism. But Baird’s Chris Coetzee said it’s realistic to expect the first quarter of 2017 to outpace the previous two year-ago periods in the sponsored-deal […]
iHeartMedia, S&P, debt
S&P Global Ratings temporarily lifts media company rating Company missed a debt payment in December Debt trading at 25-50 pct discount to par   IHeartMedia Inc faces an unsustainable capital structure after the radio and display advertising company backed by Thomas H Lee Partners and Bain Capital missed a payment on notes but offered an […]
Shamrock Capital Advisors, Appetize, private equity
Rolling out concession sales technology at sports, concert venues LA firm leads $20 mln growth equity investment Appetize may hire up to 80 people in 2017 Shamrock Capital Advisors expects Appetize, a point-of-sale technology provider for concession businesses at live entertainment and sporting events, to go on a hiring spree in 2017. The firm led […]

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