Steve Gelsi

Cinven is readying a formal fundraising effort this fall for its sixth flagship fund, targeting about $5.5 billion with about half of the commitments expected to come from U.S. limited partners seeking access to European buyouts, according to two sources familiar with the firm.

While firms like Morgan Stanley, Merrill Lynch and Goldman Sachs deploy feeder funds and other vehicles for individuals to invest in alternatives, an estimated 50,000 independent wealth advisors lack the technology and services to provide access to the asset class for their clients.

Q&A with Jeri Harman, CEO, co-founder and managing partner of lower middle-market lender Avante Mezzanine Partners.

Trive Capital is moving quickly through fundraising on its sophomore investment vehicle that is targeting up to $500 million for complex situations and corporate carve-outs in the lower middle market, according to two people with knowledge of the firm.

The commercial real estate business weighs in at roughly $1 trillion in the United States alone, but it often lacks online tools to help businesses and people connect if they’re not already established in a market.

Buyouts recently caught up with Mike Elio, partner and co-head of the mid-market buyout and distressed/turnaround teams at advisory shop StepStone. Elio joined StepStone early last year after serving as a managing director at the Institutional Limited Partners Association, where he led programs involving research, standards and setting strategic priorities.

Boston-based Audax Group has put its acquisitive portfolio company Koda Distribution Group up for sale in a deal that could fetch up to $360 million for the chemical products specialist, according to sources.

Sterling Group, the Houston-based middle-market firm, took about three months of formal fundraising to raise the largest buyout pool in its history, with $1.25 billion in commitments for Sterling Group Partners IV.

Citco Fund Services started out as a hedge fund administrator in the late 1960s with George Soros as a noted early client. As hedge funds diversified into other asset classes in the mid-1990s, Citco morphed with them and began servicing a broad variety of alternative fund managers, including private equity and real estate managers. 

Five Questions with Andrew Richards, Managing Director, Swander Pace Capital