Sam Sutton

Blackstone raised $20 bln from Saudi Arabian SWF earlier this year Remaining $20 bln to come from traditional fund LPs Firm’s assets swell to $371 bln Blackstone Group expects to hold a first close for its infrastructure platform’s debut fund, targeting $40 billion, in early 2018, President and Chief Operating Officer Tony James said during […]

Deval Patrick-led fund closed on $390 mln Bain backs Living Earth, a compost business, and Impact Fitness Trends driving impact investing “not going anywhere,” says Patrick Bain Capital’s fund for investments in environmentally or socially impactful investments held a final close on $390 million. The firm marked the close of the Bain Capital Double Impact […]

More than half of LPs with $10 bln-plus AUM would back first-time funds CalPERS, Texas TRS graduate firms from EM programs More investors eyieng anchor commitments Some private equity firms age like fine wine, churning out top-performing vehicles vintage after vintage. Others turn to vinegar over time, forcing limited partners to find new firms — and […]

I’m going to steal the first question from the title of a research paper you guys put out recently: Are emerging managers worth it? Koenig: There’s a really strong concentration of these first-time funds in the top quartile [of PE fund performance]. Realistically, because that data has been from guys who’ve been successful enough to come […]

New fund investing in fund managers, co-investments $205 mln vehicle closed above target earlier this week Led by Zac McCarroll, formerly of UTIMCO Private Advisors has already deployed roughly 60 percent of the $205 million the firm raised for its debut real-assets fund, Partner Zac McCarroll told Buyouts. The firm this week announced a final […]

Minority-owned private equity firms hold just 3.4 percent of the industry’s assets under management, a recent study led by Harvard Business School Prof. Joshua Lerner shows. Just 1.5 percent of all PE firms are owned by women. While the industry shows signs of beginning to elevate women and minorities into the partnership ranks, “it’s improved off […]

Catalyst expected to launch new fund later this year Combative firm contemplating adding a mezzanine platform “I’m a pretty cuddly guy when you get to know me,” says Glassman Newton Glassman is the loudest, most combative distressed investor in Canada. Short-sellers of his portfolio companies are called to public debate. Courtroom spats merit lengthy op-eds […]

ILPA recommends GPs cap facilities at 180 days New guidelines emerge after LPs, GPs express need for clearer parameters Capital-call facilities can boost IRRs, affecting waterfalls and hurdle rates The Institutional Limited Partners Association thinks private equity firms should be more up front in describing how and when they use lines of credit secured against […]

New Mountain paid a little more than 9x EBITDA for Fund IV companies Five-year average multiple for LBOs is 11.1x: Preqin New Mountain V targeting $5 bln New Mountain Capital paid below-average prices on new assets through its assets, a fact limited partners will likely view favorably as the firm raises its fifth flagship buyout fund […]

New BDC among the largest traded on Nasdaq TGC BDC portfolio opened at $18.50 Typical portfolio companies have $15 mln-$50 mln EBITDA Carlyle Group closed its initial public offering of its business-development company on Monday, making TCG BDC one of the largest such companies traded on Nasdaq, a news release from the exchange said. Carlyle launched its […]