Steve Gelsi
GPs avoiding income tax on management fees Industry group says IRS doesn’t have power to change rule Four key Democratic senators support IRS move Private equity firms are lining up to fight a new regulation proposed by the Internal Revenue Service to stem the use of waivers that allow income from management fees to be taxed at […]
NSSK headed up by Jun Tsusaka, TPG veteran Two other ex-TPG execs on senior NSSK team Firm closed two deals in less than a yea Tokyo-based NSSK, founded by TPG veterans, is preparing a formal fundraising effort for a $500 million debut fund later this year, according to a source. NSSK, which stands for Nippon Sangyo Suishin Kiko, is […]
Terms of settlements not disclosed Riverside Co “excited to be moving forward” VSS had withheld compensation from trio Veronis Suhler Stevenson has ended a legal battle over the departure of three credit-focused executives who joined rival Riverside Co to launch a credit business. VSS agreed to dismiss two suits with prejudice and without costs, according to […]
Firm: LongWater Opportunities LLC Fund: LWO Fund II LP Amount Raised: $35 mln LongWater Opportunities LLC, a Dallas-based buyout firm that hired an executive from Insight Equity earlier this year, drew in $35 million for its second fund, according to a regulatory filing. LongWater Opportunities, also known as LWO LLC, invests in companies with enterprise values […]
Aethon Energy follows up $200 mln debut fund from 2000s Exec considers possibility of lower oil prices Firm may do more deals with RedBird Capital It’s been nearly a year since oil prices started falling sharply, sending waves of distress into highly leveraged energy companies backed by private equity firms. While $40 oil has wreaked […]
Firm: GSO Capital Partners Fund: GSO European Senior Debt Fund Amount raised: $1.94 bln Blackstone Group’s GSO Capital Partners credit arm drew in about $1.9 billion in commitments for its GSO European Senior Debt Fund for leveraged-finance deals in the region, according to a filing. The New York firm headed up by CEO Stephen Schwarzman disclosed […]
Firm: Thorofare Capital Fund: Thorofare Asset Based Lending Fund IV Target: $300 mln Amount raised: $105 mln Thorofare Capital drew in $105 million for its fourth fund aimed at providing bridge loans and floating-rate loans to borrowers looking to acquire or recapitalize middle-market commercial real estate, according to a filing and the firm’s website. Thorofare […]
Firm: Shamrock Capital Advisors Fund: Shamrock Capital Growth Fund IV Target: $600 mln Amount raised: At least $540 mln Shamrock Capital Advisors, the Los Angeles-based specialist in buyouts and growth equity investments in media, entertainment and communications, is oversubscribed for its fourth fund, according to two sources. Riding strong performance numbers in its prior fund, […]
Firm now operates out of 12 offices globally Wilfred Small heading up San Francisco branch Firm beefing up investment and investor relations arms With stakes in more than 100 funds on the West Coast, Ardian plans to hire several more people for its new San Francisco office, an executive for the Paris-based firm said. Benoit Verbrugghe, […]
California Treasurer sees role for young firms in pension portfolios DuPont Capital Management reports outperformance by emerging managers Young GP urges transparency While younger buyout funds may face challenges launching their business, limited partners at the PartnerConnect West conference this month said they’re interested in adding them to their portfolio. The LPs shared advice on what it takes for […]