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May River Capital, formed by executives from Wynnchurch Capital and Valor Equity, is targeting $250 million for its second fund, sources with knowledge of the firm told Buyouts. May River Capital Fund II has a $300 million cap, one of the sources said. Fund II will likely be oversubscribed, the source said. The Chicago firm […]
By Teddy Grant and Justin Mitchell Public institution investors of several private equity firms have taken a decidedly neutral stance on private prison investments despite public outcry about the ways the industry treats inmates and a public thrashing by presidential hopeful Sen. Elizabeth Warren. Warren called out American Securities, Apax Partners, BlueMountain Capital, H.I.G. Capital […]
Energy Spectrum Partners secured $950 million for its eighth midstream energy private equity fund, according to an SEC filing. The amount raised, which includes commitments from the general partner, puts Energy Spectrum Partners VIII within reach of its $1.3 billion target. If successful, the fund will be 6 percent larger than Fund VII, which closed in […]
Harvard Management Company is planning to significantly increase its private equity and venture allocation over the next seven to nine years, according to a letter from its CEO included in Harvard University’s fiscal year 2019 financial report. “Today, our central concern is that HMC’s allocation to buyouts, growth, and venture capital continues to be low […]
Limited partners generally like to see private equity funds that include provisions allowing them to remove the manager without cause, with the proper amount of LP votes. However, in the U.S., the majority of private equity funds don’t include this type of rule, known as a no-fault divorce clause. A recent survey from MJ Hudson […]
Wingate Partners has been hunting industrials companies in the lower middle market since 1987. It is one of the oldest firms in the private equity industry. But it may not have much time left. The firm, based in Dallas, was forced by fund investors to stop making new investments after the departure of several key […]
State of Michigan Retirement System saw about 14 percent private equity returns in fiscal year 2019 across the funds it oversees, well above its 12.8 percent benchmark, according to documents posted online for the state investment board’s September meeting. The total value of Michigan’s PE portfolio as of June 30 was about $13.4 billion, spread […]
2019 private equity pacing plan calls for between $550 million to $575 million in commitments.
The State of Wisconsin Investment Board had robust private equity results for fiscal year 2019 and made about $855 million in private equity commitments in the second quarter, according to updates given to the board during September meetings. The board invests on behalf of the Core Trust Fund of Wisconsin Retirement System. Wisconsin’s four separate […]
One of Court Square Capital’s managing partners left the firm earlier this year as the firm was in the middle of raising its fourth fund, sources told Buyouts. The departure of John Civantos, considered one of the firm’s “rock star” investors, according to a limited partner, may have helped slow the fundraising process for the […]
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