Steve Gelsi

Scott Ross holds first close for debut fund Worked at Apollo, Goldman Sachs Firm to invest in common stock; private companies Ex-Apollo Global Management partner Scott Ross held a first close on his debut fund, which invests in public equities as well as privately held companies, according to people familiar with the New York firm, Hill Path Capital. […]

Eyes SEC interest around zombie funds SEC trying to work closely with private equity Regulators down on accelerating monitoring fees Aaron Schlaphoff, who recently joined Kirkland & Ellis as a partner after working at the Securities and Exchange Commission, in an interview with Buyouts flagged compliance issues for GPs around zombie funds, accelerated monitoring fees and other potential sticking […]

Firm: Wise SGR Fund: Wisequity IV Hard Cap: 215 mln euros ($220.3 mln) Amount raised:  215 mln euros ($220.3 mln) Placement Agent: Rede Partners Law firm: Proskauer, international legal counsel Wise SGR drew commitments from limited partners in the U.S. for the first time as the Milan-based buyout firm in less than six months wrapped […]

Hi-Crush stock trading around $4 down from $69 in 2014 Moody’s downgrade covers $200 mln of debt Analyst sees deterioration in energy sector credit Hi-Crush Partners, an Avista Capital-backed provider of sand used for fracking, absorbed a debt downgrade from Moody’s amid uncertainty about liquidity levels in the energy sector. The downgrade comes as the company’s customers […]

Firm: Eaton Vance Fund: Eaton Vance Institutional Senior Loan Fund Amount raised: $7.8 bln Eaton Vance increased the dollar contributions to its Eaton Vance Institutional Senior Loan Fund by $2.4 billion in one year, bringing the total to $7.8 billion for the platform for public pension funds, endowments and other big LPs, according to filings. The […]

Sterling Group Partners III LP, the vintage 2010 buyout fund from Houston-based The Sterling Group, logged a net IRR of 23.5 percent as of December 31, 2014, for Sacramento Private Equity Partners. That’s ahead of the top-quartile threshold of 21.4 percent in an annual analysis of pension fund data by Buyouts. Partner Kent Wallace, who […]

Nearly $22 bln raised for non-fund investments in first three quarters of 2015 Exponential growth seen in deals sourced by independent sponsors Aberdeen Asset Management studying two such deals With private equity firms facing tough competition for portfolio companies, buyout shops operating without funds now play a more prominent role in finding deals, according to multiple sources. […]

Moody’s cites improved earnings at fast food operator Lower gasoline prices, commodity prices help Company’s debt-to-EBITDA ratio falls to 6.0x It may may operate in financially troubled Puerto Rico, but a Burger King chain backed by Castle Harlan has seen enough of a boost from lower costs to draw a debt upgrade from Moody’s Investors Service. […]

Firm: MTS Health Investors Fund: MTS Health Investors IV Target: $300 million Amount raised: $155 mln Placement Agent: Probitas Funds Group MTS Health Investors, the New York firm founded in 2000 by a former lead banker at Bear Stearns, has raised $155 million for its fourth buyout fund about two years after wrapping up its […]

Firm: North Haven Capital Partners Fund: North Haven Capital Partners VI Target: $1.5 bln Amount raised: $1 bln Placement Agent: Probitas North Haven Capital Partners, part of Morgan Stanley’s line of closed-end private equity funds, has reached $1 billion in commitments for its sixth pool, which is targeting $1.5 billion, according to sources. The fund […]