Dietrich Knauth

U.S. buyout funds raised more than $81.5 bln in Q2 Fundraising for first six months totals $160 bln, up from $86 bln in first six months of 2018 More demand for  lower-risk strategies as downturn remains a concern Fundraising remained active in the second quarter, with U.S. buyout funds raising more than $81.5 billion combined. The […]

Independent sponsors are a source of deal flow for LPs with co-investment experience Doing deals as an independent sponsor can be a proving ground for aspiring GPs Aberdeen often commits 30-50 pct of its PE funds to emerging managers Whit Matthews is a senior investment director at Aberdeen Standard Investments. He spoke with Buyouts about […]

Founded in April 2018, APT is helping to raise five funds All of the funds are targeting $500 mln or less, with niche strategies A big part of the work is connecting small, global GPs with large North American investors APT Fund Advisory, a new placement agent, is trying to connect smaller global GPs following […]

DuPont doesn’t adhere to strict pacing targets After departures, private markets team is up and running Led by Antonis Mistras After a handful of senior departures in its private markets team last year, DuPont Capital says it is back to full strength and business as usual. DuPont Capital manages both the DuPont Pension Trust and […]

Hark Capital, which raised a $200 mln credit fund in 2017, lends to PE-backed companies Hark’s credit funds provide liquidity for portfolio company improvements after LP capital is exhausted Liquidity and competition continue to be top-of-mind for PE investors Doug Cruikshank is head of fund financing and Hark Capital at Aberdeen Standard Investments, where he […]

SNAPSHOT Company: Zarbee’s Naturals Financial Adviser: Houlihan Lokey Legal Adviser: Finn Dixon Herling WHY THEY WON 9.7x multiple and 43% IRR Revenue increased 15x over a seven-year hold Zarbee’s grew into the No. 1 pediatrician-recommended children’s cough/cold brand Added new products, expanded presence across the U.S. When L Catterton in 2011 acquired a majority of Zarbee’s Naturals, […]

Cap on new GP commitments doubled to $50 mln Follow-on pledges rise to $100 mln from $40 mln Secondary PE sales allowed, with board approval Los Angeles City Employees’ Retirement System approved an investment policy that raises the limits on commitment sizes, though the pension plans to “ease into” the higher commitments. The $17 billion retirement […]

Consultant: Fund has not pursued co-investment or secondary purchases in recent years CIO to present co-investment research to board Co-investment, secondaries and fund-of-funds are just 5 pct of CalPERS’s unfunded commitments California Public Employees’ Retirement System is looking for more traditional ways to boost its exposure to private equity, including buying secondaries and increased co-investing. […]

Secondaries grew a third to $72 bln in 2018 Commonfund: value in smaller buyouts, EM, venture Thorough due diligence helps gain an edge While many investors are frustrated with high prices on secondary private equity assets, Commonfund still sees value in overlooked corners of the market. The market for secondary transactions, which Evercore recently reported grew […]

CIOs of Texas Teachers, Florida SBA, NYS Teachers and Texas ERS discuss EM strategies Pension funds want specialized strategies, diversity and, above all, returns EMs need patience, persistence to win mandate Large public pensions are always on the lookout for new talent and smaller managers, and the CIOs of four large pension systems recently shared […]