Firms & Funds

The California Public Employees’ Retirement System released its long-awaited study of how much it paid private equity managers in carried interest over the years. The results were less than alarming: The numbers show CalPERS paid $3.4 billion to all active managers since 1990 and collected $24.2 billion in realized net profits during that time. (CalPERS only calculated […]

Previous flagship closed on $1.75 bln in 2014 Providence credit arm netting 12.4 pct through flagship funds Benefit Street also markets special-situations fund Benefit Street Partners is back on the market with a new flagship fund targeting $1.75 billion, an investment report released by Teachers’ Retirement System of Louisiana shows. Louisiana Teachers’ committed as much as $75 […]

The IRR clock starts ticking from day one, and the first months of a deal are critical to establishing its pace and trajectory and the relationship between the PE firm and portfolio company. Our firm has advised more than 200 PE funds since 1995, and even in the era of the 100-day plan, we time […]

Firm found by Carlyle Group alumnus and a telecom exec Exec decided to launch firm during a climb on Mount Kilimanjaro First portfolio-company deal closed over the summer   Astra Capital Management, the Washington firm founded by an ex-Carlyle Group managing director and an executive from the telecom sector, is on the fundraising trail for […]

Newly-christened Backcast to provide mid-market debt, equity Centre Partners a minority partner in new firm Mark Gudis of SAC also a Backcast co-founder In fly fishing, “backcast” refers to how a fisherman winds up before casting his fly to the water. In business, “to backcast” is to set a specific goal, then work backward to […]

Fund VI’s 35 pct net IRR driven by Innovative XCessories LPs have been asking GP about Fund VII Firm raised $2.3B in 2013 for Olympus Growth Fund VI   With strong performance numbers thus far for its 2013 fund, Olympus Partners told inquiring LPs it’s getting ready to launch fundraising efforts around its seventh pool in […]

Silver Lake opens data room for Fund V Described as in pre-pre-marketing phase Target might be more than $10 bln One of the highly anticipated funds expected to hit the market in 2017 will be tech specialist Silver Lake’s fifth offering. And the firm is starting to talk with limited partners about Fund V, opening a data […]

Minnesota commits up to $775 mln to PE in December New commitments include re-ups with Goldman, Merced $81 bln institution forms new relationships with Dyal, Oak Hill Minnesota State Board of Investmentcommitted as much as $775 million across six private equity funds at its Dec. 1 board meeting, according to its website. The commitments include four […]

J.H. Whitney Fund VII closed in 2010 Was targeting $700 mln GP-led deals help bolster total activity Goldman Sachs and Neuberger Berman are lead investors in the restructuring of J.H. Whitney & Co’s seventh fund, according to three people with knowledge of the deal. The restructuring was in its election period, one of the people […]

A pair of funds from Longitude Capital has taken the top spots in a late-decade venture portfolio at Colorado Public Employees’ Retirement Association. The funds, one from 2008 and the other vintage 2013, reflect the upswing life-sciences investing has seen in recent years. Both saw significant improvement in the 24 months ended in December 2015. The […]