Steve Gelsi
Firm: Hamilton Lane Fund: Hamilton Lane Private Equity Fund IX LP Target: $400 mln Amount raised: $516 mln Hamilton Lane Advisors LLC said it held a final closing of Hamilton Lane Private Equity Fund IX LP with $516 million in commitments, 29 percent above its $400 million target, as the largest fund-of-funds in its 24-year […]
GP Profile: Oaktree Mezzanine Finance Year founded: 2001 Investment strategy: Seek current return and long-term capital appreciation with an emphasis on fundamental credit analysis and risk control in the middle market. Provide mezzanine capital to companies with enterprise values of $150 million to $750 million. Key executives: Bill Casperson and Raj Makam, both managing directors […]
Heron Foundation launched in 1992 with a mission to help people help themselves out of poverty, with a focus on the U.S. The New York City-based private foundation has decided to redirect its financial holdings into impact investments. How’s that going? We manage about $280 million. Clara Miller, our president, said every dollar we have needs […]
Firm expects up to $60 bln this year Fundraising not as lumpy as in the past because of new products Blackstone Strategic Partners Fund VII draws in $4.3 bln Blackstone Group drew in $21 billion of fresh capital in the second quarter, with its latest secondaries fund pulling in $4.3 billion as one big contributor. The fundraising bonanza […]
Carlyle fund eyes non-core infrastructure deals Carlyle hires Peter Taylor from Hastings Infrastructure Andrew Marino shifts roles at Carlyle Carlyle Group is targeting $2.5 billion for Carlyle Global Infrastructure Opportunities I, which features longer hold times for non-core infrastructure investments with a return target in the mid-teens, according to sources. The Washington firm is sifting for […]
Firm: Spindletop Capital Fund: Spindletop Healthcare Growth Capital II LP Target: $200 mln Placement Agent: Harken Capital Securities Spindletop Capital is targeting $200 million for its second fund as the Austin, Texas, firm with ties to two family offices seeks investments in commercial-stage and profitable healthcare companies, according to a filing. Among its portfolio companies, […]
Brookfield Asset Management sees ample investment opportunities in five key areas as it plans to pursue more and larger transactions with its $14 billion Brookfield Infrastructure Fund III, the largest infrastructure fund ever raised, according to a source. The pool is twice the size of its predecessor, which closed in 2013 on $7 billion. Fund III beat its […]
You’re in an emerging area of finance and law in which lenders make loans to GPs backed by LP commitments. How is the market developing? We hosted 70 attendees at an event on the topic a few years ago. In March, we took part in the annual Fund Finance Association Symposium with 600 clients including […]
Wynnchurch Capital Partners III, the vintage 2010 buyout fund from Chicago-based Wynnchurch Capital, generated a 39 percent net IRR as of December 31, according to an annual meeting document from a source. An annual study of public pension fund data by Buyouts estimated a top-quartile IRR threshold of 21.4 percent and a median of 12.9 […]
When Scott Myers co-founded Cogent Partners in 2002, he planned to build a full-service merchant bank for private markets. But Cogent’s secondary-advisory business grew so quickly that the firm ended up focusing mostly there. All told, Cogent completed more than 4,600 secondary transactions prior to its sale to Greenhill & Co for about $100 million in 2015. […]