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Enhanced Equity, Park Hill work on possible revamps Raised two funds since 2005 Narrowed focus to healthcare after executive departure Enhanced Equity Fund, formed in 2005, is exploring restructuring options for its two funds, according to three people with knowledge of the firm. Enhanced Equity, led by Andy Paul and Malcolm Kostuchenko, is working with Park […]

Almost a quarter of endowments, foundations have no hedge fund holdings Institutions leave amid concerns with fees, underperformance “People may be taking some money off the table,” says NEPC’s Kristin Reynolds Almost 30 percent of endowments and foundations have slashed their hedge fund allocations or plan to do so, a survey by consultant NEPC says. More […]

Beneficient Co setting up auction for two Paul Capital funds Seven Paul Capital staffers joining Beneficient Beneficient moves into high-net-worth secondary market A growing secondary-market specialist is working with Paul Capital, a secondaries and fund-of-funds firm that has been winding down, to liquidate the firm’s eighth and ninth secondary funds. Beneficient Co, a liquidity provider in the secondary […]

Aethon, Ontario Teachers in first joint investment Dallas firm also backed by RedBird Capital Partners Aethon United made up of J-W Energy units, nearby assets     Aethon Energy Management teamed up with Ontario Teachers’ Pension Plan for the first time for a new stand-alone platform investment outside the firm’s fund structure. The Dallas firm hasn’t […]

LPs approved First Reserve Fund XI restructuring Not enough LPs choose to sell as part of the deal Firm to continue discussions with LPs First Reserve’s restructuring of its 11th fund has hit a roadblock. Fund XI LPs recently approved the proposed revamp, which enables current LPs to either sell their stakes in the 2006 fund […]

Trident VII targets $4.5 bln Capped at $5 bln Stone Point sold minority stake in firm in 2012 Stone Point Capital is targeting $4.5 billion for its seventh flagship fund, according to a limited partner with knowledge of the fundraising. Trident VII is capped at $5 billion, the LP said. Stone Point said at its annual […]

New fund to write larger checks for middle market funds Louisiana Teachers’ commits up to $75 mln to Fund VIII Firm’s founder, Jerome Kohlberg, passed away last year Kohlberg & Co set a $2 billion target for its newest private equity fund, according to investment memos obtained through a public-records request. Kohlberg & Co, which closed its […]

$18.4 bln Fund VIII now about 60 pct committed PE funds typically launch fundraising at 70 pct Apollo launches new business unit in Europe Apollo Global Management’s $18.4 billion Apollo Investment Fund VIII is 60 percent deployed, setting up a possible move into fundraising for its next flagship fund. Fund IX is “looming somewhere on the horizon,” […]

Staff in “no rush” to commit to new funds, says spokesman Pension commits $884 mln to PE in first half Massachusetts earmarked $1.4 bln to PE in 2016 Massachusetts Pension Reserves Investment Management Board staff is bearish on making new commitments to private equity in the current market, according to spokesman Eric Convey. At MassPRIM’s […]

Patrick joined Bain last year to launch impact business Bain’s business targets overlooked, distressed areas Impact-investment volume reached $15.2 bln in 2015 Bain Capital launched a fund to be run by former Massachusetts Gov. Deval Patrick that will invest across asset classes to target distressed communities, according to a regulatory filing. The fund, Bain Capital Double […]