Sam Sutton
Final close includes $48 mln of co-investment Firm to finalize new platform acquisition, Blacksmith Applications Robert Morse, Adrian Polak launched firm in 2013 Strattam Capital, formed by former Oak Hill and Rockwood Capital executives, wrapped up fundraising for its debut fund on $157 million, two sources told Buyouts. The fund hit the fundraising market in 2014. […]
Firm marked down much of its portfolio last year “It comes with the strategy,” Aronson tells Oregon Debt market cycles factor in Fund III’s flex structure Centerbridge Partners’ 2012 distressed-debt vehicle is unlikely to generate the lofty internal rate of return netted by its predecessor, a 2009 vintage fund deployed near the height of the […]
Arkansas Teacher commits up to $30 mln, receives $10 mln allocation San Francisco, New York State Teachers also see commitments slashed Firm’s debut lower middle-market was oversubscribed Limited partners in Thoma Bravo’s debut lower middle market fund saw their preferred allocations slashed to varying degrees, with some investors receiving only a third of what they’d authorized […]
Credit Suisse hiring for Anteil Capital Partners New team will take minority stakes in 10-12 firms Strategy bears some similarity to Dyal Capital Partners Credit Suisse is launching a new private equity business to acquire minority stakes in asset managers, according to a job description the bank posted to its website. The new team, dubbed […]
New fund can buy stakes in secondaries fund Secondary deals for secondary funds very complicated to price Previous SL Capital funds netting strong returns Standard Life’s private equity unit set a $400 million target for a secondaries fund that can buy stakes in other secondaries funds, among other strategies, according to documents released by the […]
LPs concerned with “leakage” around complex distribution models SEC examiner sees “errors in spreadsheets, errors in calculation” of waterfalls Others say waterfalls leave little wriggle room for misinterpretation A Securities and Exchange Commission official has some advice for GPs: Pay close attention to your waterfall calculations. In an April 6 keynote interview at PartnerConnect East in […]
1. How have firms changed their attitudes or approaches toward compliance in the two years since Andrew Bowden’s “sunshine” speech? Let’s say [an SEC] speech comes out next week dealing with — you name it, conflicts of interest with service providers — [GPs] call their lawyers and say, ‘OK, what’s going on? These are the […]
Firm offers LACERS 1.5 pct management fee after charging 2 pct on Fund XI Thoma Bravo targeting $7 bln for Fund XII New fund could be roughly twice the size of Fund XI Thoma Bravo slashed its management fee for Thoma Bravo Fund XII by half a percentage point from the prior fund, according to Los […]
Carry should be taxed as income, says former treasury secretary Rubin holds more than a third of his net worth in PE assets Rubin supports Hillary Clinton for president Former U.S. Treasury Secretary Robert Rubin says carried interest should be taxed as regular income rather than at the lower capital-gains rate. “I’m on public record, and you […]
More than a quarter of the buyout firms that successfully fundraised from 2002 to 2008 didn’t raise another fund after the global financial crisis, according to data included in Bain & Company’s 2016 private-equity report. It could have been much worse. Bain found roughly 1,000 general partners faded from the industry in the years following the crisis. “The […]