News and Analysis

GTCR, the Chicago-based firm focused on financial services and technology, health care, and information technology, may increase its average equity check by a high-single-digit percentage rate after closing GTCR Fund XI with $3.85 billion in commitments as the largest buyout fund in its 34-year history.

Lynn Tilton has decided to pull the plug on American LaFrance LLC, a maker of fire trucks and other industrial equipment that Tilton’s Patriarch Partners LLC managed to retain through its 2008 bankruptcy reorganization but that ultimately failed.

The California Public  Employees’ Retirement System is seeking a senior portfolio manager for co-investing to oversee a four-person team, as the largest U.S. public pension fund looks to take part in buyout deals.

Peter Nolan, Managing Partner at Los Angeles-based Leonard Green & Partners, discusses his firm’s approach to investing in companies, including Whole Foods, J. Crew and The Container Store, and warns that 2014 will be a challenging year.

Greg Brenneman, Chairman of CCMP Capital Advisors, looks back on a year in which his firm sold about $2 billion of equity from its portfolio companies

The vintage 2006 Francisco Partners II buyout fund generated an IRR of 12.2 percent as of Dec. 31, 2012, according to performance data from California Public Employees’ Retirement System. The performance beats the 11.7 percent threshold for top-quartile funds and the median IRR of 7.5 percent for the vintage year, according to LP data compiled by Buyouts.

There is a unique fund in the market targeting investments in music copyright royalties, sister news service peHUB reported.

Capital Partners Inc, the Greenwich, Conn, firm launched in 1982, surpassed its fundraising target by $110 million with Capital Partners Private Equity Income Fund II LP, which drew $360 million in commitments for cash-yielding targets in the middle-market arena.

Providence Equity Partners booked a gross return multiple of 4.5x on its exit of the Yankees Entertainment and Sports Network in a deal with Rupert Murdoch’s 21st Century Fox for the cable TV sports property, according to a person familiar with the private equity firm.