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MacDonald to take position as Rutgers investment director MacDonald oversaw NJ’s private markets portfolio since 2011 PE portfolio expanded by 40 pct under his watch New Jersey Division of Investment private equity chief Jason MacDonald is leaving the state’s treasury department to be the first investment director of Rutgers University’s $1 billion endowment. MacDonald joined the […]

Former Pinebridge secondaries head Lambert joins Altamar Will open and run New York office for Madrid firm Altamar makes primary, secondary and co-investments Harvey Lambert, former head of secondaries at Pinebridge, is joining Madrid-based Altamar Capital Partners to open a New York office and help expand the firm’s presence in the United States. He left Pinebridge in […]

Comparisons with public market businesses, previous LBOs pose challenges “It’s really tough for the SEC to make hay,” says one compliance attorney Bowden previously brought up valuations in “Sunshine” speech Questions about how firms value portfolio companies continue to crop up in Securities and Exchange Commission examinations of private equity firms, multiple sources told Buyouts. Firms […]

Palladium Equity Partners, the New York firm founded in 1997 by Marcos Rodriguez, rang up an IRR of 20.4 percent for New York City Public Employees’ Retirement System as of Dec 31, 2014, according to the pension fund. That’s ahead of the top quartile threshold of 11.7 percent and the median of 8 percent for […]

Silver Lake can only collect accelerated fees if it meets one of two criteria Fee must benefit LPs, or not hurt LPs because of an equivalent offset Policy appears to be first of its kind Silver Lake adopted a policy governing its use of accelerated monitoring fees that appears to be a first of its kind in the […]

Oak Hill targets $3 bln for buyouts Fund IV Firm narrowed investment focus Runs process to buy out existing LPs, inject fresh capital Oak Hill Capital is running a stapled secondary process as part of fundraising for its fourth buyout fund, targeting $3 billion, two people with knowledge of the situation told Buyouts. It’s not […]

Shulman-led firm surpasses target by $30 mln Juggernaut agrees to acquire Mitchell & Ness Firm’s 2012 vintage fund netting 10 pct IRR Juggernaut Capital Partners closed its third flagship on $380 million, surpassing its target by $30 million, the firm told Buyouts. “We had a very positive fundraising effort altogether,” founder and Managing Partner John […]

CalPERS PE chief requests reimbursement from TH Lee Accuses firm of collecting fees without disclosing in LPAs TH Lee aggressively defends past practices The nation’s largest public pension fund has been engaged in a bitter dispute with Thomas H. Lee Partners over accelerated monitoring fees, Buyouts has learned. In correspondence obtained by Buyouts, Real Desrochers, private […]

Firm: Cerberus Capital Management Fund: Cerberus Institutional Partners VI LP Target: $3.5 bln Hard Cap: $4 bln Amount raised: Nearly $3 bln Placement Agents: Axius Partners Pty; Monument Group Cerberus Capital Management is nearing $3 billion for its flagship distressed debt and buyout pool, Cerberus Institutional Partners VI LP, after launching the effort in 2015, […]

Blackstreet agrees to $3.1 mln SEC settlement Used fund assets to make political, charitable contributions GP waived capital call obligation after secondary Here’s an interesting way to do a private equity secondary. Murry Gunty, managing partner at Blackstreet Capital Management, acquired interests in his firm’s second fund from eight limited partners through a vehicle he controlled […]