Steve Gelsi

Firm wraps up fourth infrastructure fund at $2.9 bln Taking aim at U.S. for the first time Eyes midstream oil assets as prices fall Ardian plans to make its first infrastructure investments in the U.S. after wrapping fundraising for its fourth infrastructure fund, an executive at the Paris-based firm said. About 20 percent of the $2.9 […]

LPs seek exits for maturing assets Secondary players ramp up efforts GPs urged to share portfolio company When private equity funds grow up, they more rarely move out of the house. As the asset class matures, fund duration has been creeping up, according to industry players. For LPs and GPs, this market dynamic offers an […]

The $1.3 billion, vintage 2012 Thoma Bravo Fund X from Thoma Bravo had a net internal rate of return of 34.2 percent as of September 30, according to an investor who asked not to be named. That IRR well above the 14.8 percent top-quartile threshold for U.S. private equity funds of the same vintage, and […]

1. Have you gotten lots of calls after Third Avenue Focused Credit announced December 10 it had shut down and placed its remaining assets into a liquidating trust? Has leverage gotten tighter lately as a result? You can still get leverage, but you can’t get more than 5x EBITDA. And 4x EBITDA seems more like the […]

Antares, Lone Star re-start unitranche loan program Program will provide capital for first-lien unitranche loans of $50 mln to $350 mln Non-syndicated loans may gain favor in face of second-lien woes An Antares Capital executive who oversees the firm’s revamped middle-market lending partnership with Lone Star Funds sees the disruption in credit markets as an opportunity, […]

Firm: Harvest Capital Fund: Harvest Partners Structured Capital Fund LP Target: $400 mln Amount raised: $243.5 mln Placement Agent: Park Hill Group Harvest Partners drew in $244 million for its first structured capital fund, which makes non-control investments in middle-market companies, about 14 months after the New York firm launched the business, according to a […]

Firm: DW Healthcare Partners Fund: DW Healthcare Partners IV LP Target: $350 mln Amount raised: At least $194 mln Placement Agent: Credit Suisse DW Healthcare Partners held a first close on $194 million for its fourth fund, which is targeting $350 million for lower-middle-market healthcare deals, according to a public filing and a source. DW Healthcare Partners […]

Firm: Cinven Partners LP Fund: The Sixth Cinven Fund LP Target: $6 bln   Cinven may close its sixth flagship fund sooner than expected in the first half of 2016, as the London-based firm touts a top-quartile performance in at least one prior fund, according to sources. Cinven originally expected to wrap up Fund VI […]

Firm: CD Capital Fund: CD Capital Natural Resources Fund III Target: $400 mln Amount raised: $233 mln Placement agent: FirstPoint Equity CD Capital has drawn in $233 million in commitments for CD Capital Natural Resources Fund III, which is targeting $400 million, according to a filing. The London-based private equity firm founded in 2006 by mining […]

A specialist in executive coaching, training for presentations and helping private equity firms thrive, Steve Giglio has worked with more than 20,000 pros from the ranks of alternative investments and corporate America since launching his practice in 1989. He also penned the 2003 book “Beating the Deal Killers … Overcoming Murphy’s Law (and other Selling Nightmares).” Nowadays, Giglio is […]