David Rubenstein, co-founder and co-CEO of the Carlyle Group, and a proponent of the democratization of private equity, suggested this week his firm was working on a fresh offering aimed at retail investors.
University of Texas Investment Management Co’s Bruce Zimmerman said Carlyle Group’s recent hiring of JPMorgan’s Michael Cavanagh marks an example of private equity firms becoming bigger and more institutionalized. (See related video here.)
Brazos Private Equity Partners, a Dallas buyout shop, will not be raising a new fund and will manage out the existing portfolio and wind down, according to Michael Salim, partner and general counsel.
AEA Investors LP shrugged off weakness in mezzanine debt fundraising and drew $575 million in commitments for AEA Mezzanine Fund III, about 40 percent more than the $420 million in its predecessor fund, according to a person familiar with the firm.
Secondary private equity firm Paul Capital defended its decision to collect fees on several investment vehicles, including its most recent Fund X, even while winding down the organization.
Gains by funds from Aberdare Ventures, Vicente Capital Partners and Aisling Capital lifted the performance of California Public Employees’ Retirement Systems’ self-directed venture portfolio. The portfolio’s top fund, Insight V, also advanced during the most recent reporting period, although Khosla Ventures III and Khosla Ventures Seed lost ground, according to a CalPERS’ public portfolio report […]
New York State Teachers’ Retirement System has committed up to $25 million to CapStreet Group LLC’s CapStreet IV LP, which has already raised more than its predecessor fund for lower-middle-market deals in Texas and the Sunbelt states.
Consultants never seem to be in short supply: In the United States alone, there are some 250,000 individual consultants and consulting firms with fewer than 20 employees, according to estimates by start-up Skillbridge. And beyond that, you have the thousands of consultants working at the McKinsey & Cos and Bain & Cos of the world.
With academics now in rousing agreement that private equity firms outperform public equity markets over long periods of time, the race is on to understand how they do it and with what degree of risk for their investors.
Buyouts sat down on March 20 for a Q&A with Ken Mehlman, who was elected chairman of the Private Equity Growth Capital Council late last year. We met at the offices of PEGCC founding member Kohlberg Kravis Roberts & Co, the diversified buyout shop where Mehlman is a member and global head of public affairs.
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