Steve Gelsi
Firm: Savano Capital Partners Fund: Savano Capital Partners II Target: $100 mln Hard cap: $125 mln Placement agent: XT Capital Partners Savano Capital Partners, a Baltimore firm with a pedigree in both private equity and secondary venture capital, is on the fundraising trail with a target of $100 million to buy out shareholders in later-stage private companies. Among […]
Leon Black calls current environment a new down cycle Syndicated loans for buyouts face fear, anxiety Firm holds $26 bln in dry powder Apollo Global Management founder and CEO Leon Black famously said in 2014 the firm was selling everything that wasn’t nailed down. Now Apollo has flipped its strategy to invest more than it’s […]
First PE fund for BBAM BBAM partly owned by Onex Corp BBAM naming fund Incline BBAM, the aircraft leasing specialist that’s half-owned by Onex Corp, is approaching a first close on Incline, its inaugural private equity fund targeting $750 million, according to a source. BBAM is led by CEO Steven Zissis, a 30-plus year veteran […]
Toughest quarter for credit strategies since 2011 President Tony James cites market turmoil Energy sector facing defaults Blackstone Group blamed dislocations in high-yield debt for a quarterly loss in all three of its major credit strategies for the first time since 2011, but said market conditions appear to be leveling off. Overall, the largest private equity […]
Martin Voelker moves back to K&E Jane Bieneman departs for consulting firm Steve Carre steps in for Voelker Two longtime placement agents have left UBS Private Funds Group, one of the largest private equity fundraising and secondary advisory specialists in the business, according to a person close to the bank, as well as separate sources. The […]
Firm manages $2.1 bln from institutional LPs Cargill remains an investor Proterra to focus on overseas investments Proterra Investment Partners spun off from agribusiness giant Cargill with $2.1 billion under management, mostly from outside LPs, with a focus on overseas investments in food, agriculture and natural resources, according to an executive with the firm. The firm will […]
Ratings firm stress tests public BDCs Sector mixed with stable, negative ratings Fitch studies impact of total write-down of energy assets As carnage in public equities around oil and gas price bleeds into private markets, Apollo Investment Corp and PennantPark Investment Corporation carry the largest exposure to the hard-hit oil and gas sector among the […]
After raising four children, Heidi Deiner was looking for a way to jump-start her business, HLM Consulting, so she headed over to the New York chapter of the Association for Corporate Growth. “When I first walked in to an ACG New York meeting, I didn’t know anybody,” Deiner said. “It took me a short amount of […]
Conference attendance hits record 1,200 TRS pledges $1.3 bln through 2019 to emerging managers Pros eye challenges from volatile markets, China, low oil prices A record crowd gathered in Austin, Texas, recently to discuss the future of emerging managers amid an investment climate that could dampen strong returns delivered by smaller firms. The Emerging Manager Conference, […]
Firm: Pimco Fund: Corporate Opportunities Fund II Amount raised: $424 mln Pimco disclosed $424 million in commitments for Pimco Corporate Opportunities Fund II, a credit-oriented strategy from the unit of German insurer Allianz SE, according to filings. The fund is raising money at a time of upheaval in the junk bond market sparked by distressed […]