The JOBS Act gives buyout shops unprecedented ability to market their funds to investors broadly but limits the actual sale of partnership interests to investors who are accredited — the same standard that always has applied. But for fund sponsors seeking to reach the vast retail market, suggests Lennine Occhino, a partner at the law firm Mayer Brown, maybe the most direct route would be to market themselves to defined contribution retirement plans, such as target-date funds.
A recent study of 19 sectors of the U.S. economy by ratings agency Standard & Poor’s found that consumer-reliant companies “arguably experienced” the most stress over the last three decades, as measured by defaults, while financial and utility companies held up relatively well.
New Mountain Partners II fund from New Mountain Capital LLC rang up a 1.97x net MIC and a 13.5 percent net IRR as of June 30, according to data from the Oregon Public Employees Retirement System. Steve Klinsky, founder and chief executive officer, spoke with Buyouts at New Mountain’s main office in Manhattan.
The University of Texas Investment Management Company’s creative approach to venture continues to pay dividends. The money manager made bets on such emerging firms as Union Square Ventures, Foundry Group and Spark Capital in the middle of the last decade. Funds from these firms remain its top performers. Technology Crossover Ventures, ARCH Venture Partners and […]
You were recently named chairman of the board at Real Mex Restaurants after you bought out a minority investor. Congratulations. RealMex had been in the Sun Capital portfolio before it went into Chapter 11, where you acquired it. Does it give you special concern to step into a situation where a peer has struggled? It […]
The agreement by Kohlberg Kravis Roberts & Co and Google Inc to invest $400 million in six U.S. solar power plants being built by Recurrent Energy LLC marks the latest in a series of deals in the photovoltaic space by private equity firms. Expect more.
The Forbes family is exploring the sale of its eponymous magazine title and Web publications, becoming the latest prominent media family to bow to the realities of an industry in turmoil, sister news service Reuters reported.
Vista Equity Partners is talking to its limited partners about launching its fifth flagship fund this year, according to an investor, sister publication peHUB reported.
Greg Case, a former senior partner of Apax Partners, and Paul Winn, who earlier in his career spent 20 years at IBM in a variety of senior operating roles, have teamed up to form a growth equity and buyout shop focused on investments in enterprise software and related technology companies. Case sent an announcement of […]
The Wyoming Retirement System has hired an investment professional with experience in private equity as its chief investment officer, the system announced in a statement Wednesday.
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