Sam Sutton
Direct-lending fund began raising capital last year Final close expected this summer Tennenbaum’s invested $18 bln since inception Tennenbaum Capital Partners recently held a second close on its eighth direct-lending fund to bring its total capital raised to just north of $1 billion, according to a source with knowledge of the fundraise. The firm will […]
Silver Lake targeting $12.5 bln for Fund V Strong returns despite willingness to pay higher multiples: adviser Idaho approves first commitment to Silver Lake Silver Lake funds delivered $23.2 billion of profits through Sept. 30, 2016, an investment presentation obtained by Buyouts via public-records request shows. The total includes realized and unrealized investments across the […]
New fund targets $400 mln; March close planned Ironwood offers discounted fees on uninvested capital Connecticut mulls $50 mln commitment to Ironwood IV Ironwood Capital shed light on how it plans to use capital-call facilities to boost internal rate of return for limited partners in its fourth flagship fund, documents obtained from the Connecticut Office […]
Gladden managed growth, venture relationships Responsibilities being assumed by Brijesh Jeevarathnam Relationships included Bain Capital Ventures, Summit Partner Tom Gladden left fund-of-funds manager Adams Street Partners at the end of 2016, according to the firm. Gladden spent more than 14 years at Adams Street, where his responsibilities included sourcing, analyzing and monitoring investments in private equity partnerships in […]
New Jersey State Investment Council Chairman Tom Byrne asked a simple, important question at the council’s Jan. 25 meeting. The state’s Division of Investment had just informed the council that TSG Consumer Partners would be increasing the annual management fee on two investment funds that held final closes in 2015, a move that could cost […]
More than 40 pct of LPs say they won’t back first-time managers Debut funds raise $25 bln, up 16 pct Average fund size, time to raise improve Investor sentiment for first-time managers appears to be slipping even as fundraising numbers for debut vehicles are on the rise, according to a recent report released by data […]
Executive order condemned by tech leaders, Democrats ACG President: Not “a single comment from anyone” on the ban AIC declines comment Lobbying organizations representing private equity industry interests on Capitol Hill are remaining quiet on President Donald Trump’s controversial travel ban of immigrants and refugees from seven majority-Muslim countries in the Middle East and Africa. “Honestly, […]
Carlyle running into 10.5x multiples on deals Focus on carve-outs rather than getting outbid on processes Carve-out portfolio includes $7.4 billion Veritas deal The co-head of Carlyle Group’s U.S. buyouts group, Sandra Horbach, says the firm is frequently running into double-digit multiples as it competes for deals. Horbach spoke during a keynote interview at Harvard Business […]
Silver Lake could raise bulk of capital with first close First close could come as early as March, says LP Could raise a total of $15 bln Silver Lake’s latest fundraise is off to a hot start and may hold a first close as early as March. Three limited partners told Buyouts they expect the […]
Vista changes way in which consulting fees are offset Change makes fund’s terms consistent with other Vista funds Vista’s current flagship fund offers similar terms Vista Equity Partners changed the terms on its third flagship fund more than eight years after the vehicle held its final close on $1.3 billion, New Jersey State Investment Council documents […]