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Does the stock market know something the rest of us don’t?  The S&P 500’s more than 9 percent drop from New Year’s through February 10 suggests that the United States’s seven-year trot of economic growth, however plodding, may be heading for a concrete wall. And fears of an imminent recession have real consequences. Financial buyers, for one, won’t […]

Apollo Credit Opportunity Fund III generates a -18 pct return Firm lowers return target to 6 to 8 pct net Collapse in oil prices dragged down performance Apollo Global Management’s latest credit opportunities fund appears to have gone big into energy ahead of a precipitous drop in oil prices last year. Apollo was investing in […]

Ares, Warburg among mega funds backed by Wisconsin Pension previously bullish on small, mid-market buyouts Also co-invests $10 mln in IT deal In a reversal of course, the State of Wisconsin Investment Board (SWIB) committed more than $380 million to mega funds in the fourth quarter. The $99.1 billion retirement system has been bullish on […]

Carlyle Global Partners will hold companies for longer periods Firm also plans to buy back $200 mln worth of shares Q4 ENI drops to $72.7 million from $180.5 million in Q4 2014 Carlyle Group’s new Carlyle Global Partners fund raised $3 billion for its strategy of longer holding periods for portfolio companies. That was one of many pieces […]

CalPER commits more than $275 mln to Carlyle Includes $76 mln stake in Veritas deal Pension also backs TowerBrook for $250 mln The California Public Employees’ Retirement System furthered its relationship with The Carlyle Group at year end, allocating more than $275 million to the firm in November and December, according to pension documents. In December, […]

Pension is over-allocated to private equity Pre-crisis funds make up more than half of its exposure Staff calls GP restructurings “time consuming and potentially value destroying”  The Oregon Investment Council may unload some of its pre-2009 private equity funds on the secondary market, according to a private equity investment plan included in the council’s February […]

RedBird, Pine Brook, Riata Capital back heavy-hitting CEOs Private capital lines up behind big-name entrepreneurs Firms focus on established industries in finance, hospitality, consumer sectors Private equity investors are increasingly looking for seasoned, successful executives — so-called “rock stars” — to drive performance at their portfolio companies. RedBird Capital took it to the extreme with one […]

David Li stepped down in January To form own company Julian Cheng and Frank Wei take over David Li, head of the Asia-Pacific region for Warburg Pincus, left the firm, a spokeswoman confirmed. Li resigned last month, a source said. He left to form his own company, Warburg said in a statement. He has been replaced by […]

Oregon commits $500 mln to Fund VI Oregon committed $200 mln to Fund V CEO Smith said firm could have raised up to $10 bln for Fund V Vista Equity Partners set an $8 billion target for its sixth private equity fund, according to Oregon Investment Council documents. The Robert Smith-led firm did not set a […]

Project will capture underlying fees, costs of PE CalSTRS will award $400k/year contract to outside vendor “It’s definitely a manual process,” says CIO Ailman The California State Teachers’ Retirement System will move forward with a project to uncover previously undisclosed costs related to its investment portfolio, including the fees private equity firms charge their funds’ […]