Sam Sutton
LA Fire and Police Pension expects other LPs to follow lead LAFPP also adds GPs who are disabled veterans to mandate “First time I have ever seen this,” says one LP advisor The Los Angeles Fire and Police Pensions will expand its private equity emerging manager program to include funds owned and managed by lesbian, gay, […]
Apollo pays 6x for assets on average, says Harris Market yet to recognize depth of energy recession “Mismatch” between public market expectations and private hold periods Apollo Global Management co-founder Leon Black famously claimed his firm was “selling everything that’s not nailed down” in 2013. Three years and one economic slowdown later, the $170 billion […]
Omaha-based McCarthy targets $325 mln Total to include $50 mln GP commitment Nebraska, Montana among Fund VI limited partners Recent commitments from the Nebraska Investment Council and Montana Board of Investments should put McCarthy Capital within reach of its sixth fund’s $325 million target. McCarthy, a 30-year old firm based in Omaha, Nebraska, received up to […]
SEC requests info from Carlyle, Apollo on fee acceleration Blackstone fined $39 mln for failure to disclose acceleration Recent study finds 28 pct of LBOs include accelerated fees Major enforcement actions and other regulatory declarations have not motivated many general partners to publicly disclose their use of accelerated monitoring fees, a Buyouts analysis of SEC filings […]
1. Israel Secondary Fund is raising its second fund targeting $100 million. How is it going and what does your LP base look like? The strategy for this fundraising was basically to approach, first, the Israeli institutions. Obviously, our existing investors were joining us also for the second fund. We developed, over the last six years, […]
Firm to split GP commitment between cash, fee waiver Percentage of GPs using waiver falls to 16 pct “Large funds just don’t deal with it anymore,” says one LP Tenex Capital Management’s commitment to its second flagship fund will be split evenly between a cash contribution and a management fee waiver, according to an investment memo […]
Invests in deals that are “not a fit” for main special situations funds Includes separate accounts with New Jersey, Pennsylvania Schools Oregon, Wisconsin among TSSP Adjacent Opportunities LPs TPG has raised about $6 billion for its family of TSSP Adjacent Opportunities funds, which the firm markets as sidecar vehicles to its special situations funds, according to a source […]
Mid-market specialist targeting $350 mln Jefferies helps in fundraise in Europe Firm recently sold partial stake in Voss Juggernaut Capital Partners held an interim close on $309 million for its third flagship fund, according to an SEC filing. The firm set a $350 million target and a $400 million hard cap for Juggernaut Capital Partners […]
Oregon commits $500 mln to Fund VI Oregon committed $200 mln to Fund V CEO Smith said firm could have raised up to $10 bln for Fund V Vista Equity Partners set an $8 billion target for its sixth private equity fund, according to Oregon Investment Council documents. The Robert Smith-led firm did not set a […]
Long joins from Oak Hill BDC Previously led Bank of America spinout Conversus Will help Star Mountain institutionalize its platform Star Mountain Capital appointed former Conversus Capital CEO Bob Long as its president, the firm told Buyouts. “We’ve known Bob now for a few years, and have been spending time getting to know each […]