Steve Gelsi
Goldman Sachs Group trimmed $1 billion in the first half of the year from alternative funds subject to the Volcker Rule, bringing the total figure down to $8 billion, according to recent comments by the marquee investment bank and private equity fund manager.
Paul Carbone of Pritzker Group threw a bit of cold water on enthusiasm for co-investments in private equity, arguing that direct investments offer a better fit outside conventional fund structures, at least for family offices.
Under John Livingston, chief executive of Aecom Capital, the firm will soon launch Aecom Global Fund II LP with a target of $200 to $300 million for real estate and infrastructure deals.
Meir Grossman figures Seward & Kissel LLP is ready for a continued surge in seed investment deals to launch emerging alternative investment managers, since his firm has already worked on 20 such transactions for private equity and hedge funds since this time a year ago.
The Teachers’ Retirement System of Illinois approved a $50 million commitment to JMI Equity Fund VIII and hiked its allocation program to emerging managers to by $250 million, among the $44 billion pension fund’s latest moves.
The California State Teachers’ Retirement System committed $743 million to private equity investments during the first quarter, with a $200 million commitment to Clayton Dubiler & Rice Fund IX drawing the single largest pledge.
Apollo Global Management has lined up about $2.2 billion in potential oil and gas investment via three partnerships in April, May and June as co-founder Leon Black pursues energy as one of two major themes for the New York-based private equity titan.
1) Lee, your firm is working through a $3.64 billion Fund VI closed in mid-2012, buying businesses generating $50 million to $200 million in EBITDA in such fields as manufacturing, specialty chemicals, aerospace, energy, business services, healthcare, restaurants, consumer products and other markets. I’m sure you’d agree the buyout business is all about operational improvements today. […]
Huron Capital Partners won Buyouts’ 2013 Small Deal of the Year for its return in excess of 6x on Labstat International. Any other major milestones you’d like to share since then on the deal front?
A proposed commitment to the Warburg Pincus Energy Fund failed to win approval by the Oregon Investment Council after the manager of the $70 billion state pension system raised questions over its economic terms.