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Leonard Green sets $9.1 bln hard cap on Fund VII Raising target from $7.5 bln to $8.5 bln Has demand well over the cap Leonard Green & Partners boosted the target on its seventh fund to $8.5 billion and set a hard cap at $9.1 billion, according to three people with knowledge of the fundraising. […]

$18.4 bln pension completes three commitments in December LA Fire and Police also backs CenterGate debut Pension’s PE portfolio netting 11.1 pct IRR The Los Angeles Fire and Police Pensions committed $55 million across three private equity funds in December, according to pension commissioners’ meeting materials. Los Angeles Fire & Police allocated $25 million to […]

IPO window is closed for sponsor-backed IPOs First Data falters, but Ollie’s Bargain Outlet thrives Middle-market debt prices rise Sponsor-backed initial public offerings may come from established companies with long track records, but only one has survived the bruising stock market sell-off of 2016. Ollie’s Bargain Outlet, a CCMP-backed operator of 187 discount stores that […]

True Wind collects more than $200 mln Targets $400 mln for debut fund Terms are 2 and 20 True Wind Capital, a tech-focused firm launched by two former Kohlberg Kravis Roberts executives, has raised more than $200 million of the $400 million it seeks for its debut fund, according to two limited partners with knowledge of the […]

Louisiana Teachers’ commits up to $100 mln Firm has $1.95 bln circled Kelso increased GP commitment from $500 mln to $625 mln Kelso & Company plans to hold a final close at or around its $2.5 billion target for its ninth fund at the end of March, a market source said. To date, the firm has […]

Blackstone’s secondary group takes 20 pct stake in Wazee Street IV Wazee Street IV targets $200 mln Fund features European-style waterfall distribution structure Blackstone Group’s secondaries unit has made an anchor investment in a new distressed debt fund being raised by Wazee Street Capital Management, according to a source familiar with the deal. Blackstone’s Strategic Partners Group, […]

  S&P cuts corporate rating of retailer Same-store sales ebb for the first time in six years Ares Management, CPPIB purchased luxury retailer in 2013 Neiman Marcus drew a debt downgrade from Standard & Poor’s Ratings Services, as the portfolio company of Ares Corp and Canada Pension Plan Investment Board faces headwinds in the retail sector. […]

LPs seek exits for maturing assets Secondary players ramp up efforts GPs urged to share portfolio company When private equity funds grow up, they more rarely move out of the house. As the asset class matures, fund duration has been creeping up, according to industry players. For LPs and GPs, this market dynamic offers an […]

The $1.3 billion, vintage 2012 Thoma Bravo Fund X from Thoma Bravo had a net internal rate of return of 34.2 percent as of September 30, according to an investor who asked not to be named. That IRR well above the 14.8 percent top-quartile threshold for U.S. private equity funds of the same vintage, and […]

Newfoundland and Labrador Pooled Pension Fund set a 5 pct allocation target for PE System hires Caledon Capital to guide it into PE and infrastructure Caledon recently hired by Illinois Teachers’ pension to advise on PE A big, new pool of capital has emerged in Canada. Newfoundland and Labrador Pooled Pension Fund (NLPPF), a C$9 […]