Dietrich Knauth
Oregon pledged $500 mln to BX Capital Partners VIII Blackstone seeks underappreciated divisions Blackstone: Crowding has reduced PE’s ability to add value in middle market Blackstone Group’s private equity head, speaking at a recent Oregon pension meeting, said the frenzy for middle-market private equity deals has made the larger end of the market relatively more […]
SBA reports licensing time rose from 5.1 months in 2016 to 8.2 months in 2017 Now licensing time takes about a year: attorney Government shutdown exacerbated a license backlog The government’s small business investment company program is losing some of its luster among managers as long licensing times and the recent government shutdown hamper LPs’ […]
Commonfund CEO: weaker returns on longer funds Longer-dated funds can benefit understaffed LPs CalPERS plans long fund; NY pledges to Vista Perennial Long-dated private equity funds appeal to investors who dislike the constant churn of typical PE funds. But Commonfund isn’t convinced that evergreen funds’ returns will measure up over the long haul. Large public […]
Commitment split into two $75 mln stakes in Fund III and Fund IV $56 bln pension expects Santé’s Fund III to hit hard cap of $250 mln Santé will look for Texas-based health companies overlooked by other venture investors Pennsylvania Public School Employees’ Retirement System committed $150 million to two Santé healthcare funds. The $56 billion […]
GP-led secondaries create more orderly liquidity options for investors Kerr expects GP-led transactions to grow to 25-30 pct of the market in the coming year Total secondary market transactions expected to near $70 bln for 2018 Tom Kerr is head of secondaries at Hamilton Lane. He spoke with Buyouts about the mainstreaming of GP-led transactions and […]
The market for new private equity funds remains strong going into 2019, with more than $209 billion raised by buyout and mezzanine funds in the past year. Despite an active Q4, which saw $73.2 billion in fundraising, 2018 didn’t match the highs of 2017, when buyouts and mezzanine funds raised $241.6 billion. Still, LP demand […]
Howard Searing, who had been with DuPont for 16 years, is the third exec to leave the firm’s private markets team in recent months The firm has $2 bln in PE assets under management, down from $3.6 bln in 2015 DuPont’s private markets team focuses on small, mid-market LBOs, special situations, VC A private markets director […]
Saenz joined with EY’s 2014 acquisition of Parthenon Saenz wants EY to be a leader in digital innovation Succeeds Engert, now managing partner of New York office Andres Saenz, whom EY just named global head of its PE business, sees a blurring of the lines between LPs and GPs and wants to position the firm to […]
Barings co-invests with managers in lower-mid market Co-invested in deal that helped GP early in fundraise Barings uses data to help GPs get an edge Mina Pacheco Nazemi is a member of Barings Alternative Investments funds and co-investments team, responsible for overseeing all co-investments. She spoke with Buyouts about taking a more active approach to co-investments, […]
LPs are concerned about the pace of fundraising, but are still ponying up new capital The current environment supports a wide variety of fund sizes and specialties First-time funds are finding willing investors Investors in third-quarter 2018 were simultaneously frustrated by the power held by in-demand general partners and yet competing for their approval across […]