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Panel expects a recession at some point Important to have lenders in place willing to work through tough times Trump election could negatively hit public markets A panel of private equity executives looking toward 2017 agreed that a U.S. recession lurks at some point in the future and said lining up favorable financing partners will […]

True Wind surpasses $400 mln target on Fund I Fund to close by year’s end Hires Vista Associate Matt Wilson True Wind Capital, formed by two KKR executives, surpassed the $400 million target on its debut fund and will likely hold a final close by year’s end, according to a person with knowledge of the […]

Sarkozy resigned as head of Carlyle’s financial-services group in May Has locked up a chunk of commitments for new fund May target up to $1.5 bln Olivier Sarkozy, the financial-services-focused executive who stepped down at Carlyle Group earlier this year, is working to launch his first fund, three sources told Buyouts. Sarkozy’s firm will focus […]

Platinum to close on about $4.2 bln No official cap; could be set at $5.5 bln Original target was $4.5 bln Platinum Equity is set to close on around $4.2 billion as it heads for the cap on its fourth fund, according to a person with knowledge of the fundraising. Fund IV is seeing heavy demand, […]

Rep. Hurt bill targets specific disclosure, reporting requirements HR 5424 unlikely to get taken up in Senate CalPERS, ILPA declare their opposition Private equity’s lobbying arm scored an important victory earlier this month when the U.S. House of Representatives passed the Investment Advisers Modernization Act of 2016, which would eliminate certain disclosure requirements instituted by […]

Retirement system rarely, if ever, acts as direct secondary market buyer Michigan committed $175 mln to fund last year Warburg Pincus XII is $12 bln in size State of Michigan Retirement Systems made what appears to be its first significant move as an independent buyer on the secondary market earlier this year, picking up a […]

SEC drops fee issue it had highlighted in proposed settlement Said fees portfolio companies paid to senior advisors should have been offset Final settlement included smaller fine First Reserve agreed to a settlement with the SEC over issues of fees and expenses that was smaller than proposed earlier this year — possibly because one issue described in the […]

Washington backs firm’s debut China fund System has committed over $3.8 bln to firm since 1994 PE portfolio nets 13 pct IRR Washington State Investment Board committed $200 million to Warburg Pincus’s new China fund, which is targeting $2 billion for investments in Chinese companies. The commitment remains subject to the final negotiation of terms […]

Riverside Co spinoff’s $325 mln debut fund oversubscribed Cleveland and Dallas firm nearing first acquisition Align Capital to add at least one vice president, associates Align Capital expects to hire at least one vice president, “a few” associates and an operating partner after the firm, founded by Riverside Co veterans, drew in $325 million of commitments in […]

Firm backed by a family office but may raise a fund White Oak: opportunity for return from sub-$1-bln managers Stakes will generate income over an extended period White Oak Equity Partners sees an opportunity to make minority investments in sub-$1-billion hedge funds in exchange for a share of their net income while offering expertise to […]