Steve Gelsi

First half of 2016 trails in deal volume; dollar volume up U.S. sponsor M&A totals $96 bln in first half of 2016 Q2 add-on deals proliferate With U.S. sponsors facing choppier credit markets and higher purchase-price multiples, GPs opted to buy more add-on businesses for their portfolio companies rather than launch new platforms in the second […]

Firm: Chicago Pacific Founders Fund: Chicago Pacific Founders Fund LP Amount Raised: $325 mln plus $115 mln co-investment fund Placement Agent:  CV Brokerage Inc Chicago Pacific Founders, a healthcare-services specialist formed in 2014, wrapped up fundraising for its inaugural buyout pool with about $440 million in commitments, according to a source. The total dollar figure includes […]

Firm: Paulson  & Co Fund: Paulson Strategic Partners Fund Target: $2 bln As limited partners’ appetite for distressed strategies grows, Paulson & Co, a hedge fund led by the billionaire John Paulson, boosted the size of its distressed-debt private equity fund by fully a third. Paulson Strategic Partners Fund plans to raise as much as $2 […]

Firm: CVC Fund: CVC Credit Partners Global Special Situations Fund Target: 600 mln euros, or about $667 mln Amount raised: 650 million euros, or $723 mln CVC closed its first flagship distressed credit pool, CVC Credit Partners Global Special Situations Fund, with $723 million in commitments, beating its $667 million target by more than 8 percent. It’s […]

$288 bln pension system seeks new GPs LP deploys $7 bln program CalPERS commits $4 bln to emerging managers California Public Employees’ Retirement System reiterated plans to target as much as $11 billion to emerging and transition managers by 2020 to tap younger shops with strong potential. CalPERS planned to open in July a formal solicitation for […]

Largest unitranche deal by a BDC Ares, Golub, Varagon take part in credit facility Private debt solutions ‘creeping up into the syndicated loan market’ Thoma Bravo’s $1.1 billion loan deal to finance its take-private of Qlik Technologies Inc is evidence of the rising role of private debt solutions in deals that used to be handled by […]

Russell Steenberg, managing director at BlackRock, helps oversee about $24 billion of assets under management as global head of BlackRock Private Equity Partners. In his most extensive interview to date, Steenberg sat down in BlackRock’s headquarters in New York City to talk about a wide range of topics including co-investments, pressure from LPs on fees […]

Oaktree’s Howard Marks ponders long-term impact Antares executive David Brackett mulls M&A slowdown Central bankers pledge liquidity into the lending system Distressed-debt specialist Howard Marks of Oaktree Capital Group said he doesn’t see any long-term fundamental economic shift in Europe as a result of the surprise Brexit vote, but he said it’s created uncertainty in […]

Arbor Investments IV books $750 mln, 25 pct above target Chicago firm wraps up $125 mln Debt Opportunities Fund I Arbor won a Buyouts Deal of the Year Award Arbor Investments, the Chicago specialist in middle-market food-and-beverage deals, expects to close its fourth flagship buyout fund as well as a companion debt fund for a […]

GTCR’s Craig Bondy sees low interest rates persisting GPs may try to keep winners PE track record lures new LPs GTCR is talking to its limited partners about holding companies longer to reduce execution risk and drive returns, since low interest rates are expected to persist, according to a key executive at the Chicago firm. Craig […]