Sam Sutton

“Why would other LPs approve this?” asks board chairman LPs approved amendment raising fee, eliminating banking fees New Jersey voted against the change TSG Consumer Partners persuaded its limited partners to approve an amendment to raise the management fee on its two latest buyout funds to 2.1 percent from 2 percent, New Jersey State Investment Council […]

Co-investment plan requires board approval Would include all alternatives Doñe promoted to Deputy CIO New York City’s $160 billion pension is eyeing co-investments with emerging managers of alternative assets, according to Deputy Chief Investment Officer Alex Doñe. Doñe was promoted to deputy CIO of the city’s public pension fund last week. He previously led the retirement […]

David Lee named acting PE director New Mexico SIC seeks permanent replacement PE director to coordinate strategy, portfolio management Longtime New Mexico State Investment Council private equity chief Greg Kulka has retired after 15 years at the sovereign wealth fund, spokesman Charles Wollmann told Buyouts. Kulka retired at the end of 2016 after having overseen […]

CVC’s seventh fund targeting 15 bln euros Preferred return 6 pct, down from Fund VI’s 8 pct “They’re being very aggressive,” says one LP CVC Capital Partners slashed its latest flagship fund’s preferred return to 6 percent from the traditional 8 percent, according to three limited partners. The European buyout firm earlier this year officially […]

10 firms fined between $35,000 and $100,000 Firms accepted fees for advisory services after associates made political contributions Includes contributions in Ohio, Illinois, New York The SEC censured and fined 10 firms for violating federal pay-to-play rules, the regulator said Tuesday. The cases, which were not connected, involve contributions to public officials in Massachusetts, New York, […]

Los Angeles City Employees’ Retirement System, one of the standouts among public pensions on private equity transparency for the public, has taken a major step backward. LACERS typically notifies its board and the public of new PE commitments in its meeting materials, which include information about management fees and carried interest that the system expects […]

SEC to examine “actions that benefit advisers” at expense of investors Unlike 2015-2016, fees and expenses not mentioned specifically Misallocations fall under broader category of conflicts The SEC plans to prioritize conflicts of interest and the disclosure of conflicts in its examinations of private fund advisers this year, a release from its Office of Compliance Inspections […]

Firm led by John Caple, David Block, Chris Paladino Will acquire lower-mid-market companies, but not from other PE sponsors Hidden Harbor based in Fort Lauderdale A new firm launched by former H.I.G. Capital and Comvest Partners executives set a $250 million target for its debut fund. Probitas Partners is listed as an associated broker or […]

Previous fund closed on $3.3 bln in 2014 Firm has invested $8.1 bln in Asia since 1994 TPG Asia led by Timothy Dattels TPG is marketing its latest Asian buyout fund with a $4.5 billion target, according to New Mexico State Investment Council spokesman Charles Wollmann. The State Investment Council committed $100 million to the […]

Andrea Kramer, Managing Director, Hamilton Lane Donald Trump’s election as president and the GOP’s ascendancy at both the state and federal levels carry significant risks related to uncertainty. But the market’s perception of a business-friendly Trump administration will likely have little impact on the fundraising environment in the short term, Hamilton Lane Managing Director Andrea […]