Toby Mitchenall & Jonathan Brasse
Firm: Prophet Equity Fund: Prophet Equity LP Target: $250 million Amount Raised: $215 million Prophet Equity, a Southlake, Texas-based private equity firm, is more than 85 percent of the way toward its fundraising goal, Buyouts has learned. As of early August, the firm’s namesake fund, Prophet Equity LP, had raised $215 million, and will “definitely” […]
The $116.5 billion New York State Common Retirement Fund announced two pledges to private equity in late July, one to a mezzanine fund and one to an emerging manager that invests in community banks. The limited partner re-upped with Falcon Investment Advisors through a $50 million pledge to Falcon Strategic Partners III. The firm seeks […]
The $29 billion Teachers’ Retirement System of the State of Illinois is planning to start pledging in a big way to various private equity strategies over the next year to reach its goal of a 10 percent allocation to the asset class. The tactical plan for the fiscal year, which began on July 1, calls […]
Fund-raising updates for Maranon Capital, Fireman Capital and Birch Hill
Briefs about LPs in Illinois, Fresno and Alaska
Firm: Maranon Capital LP Fund: Maranon Mezzanine Fund LP Target: $250 million Chicago-based Maranon Capital is hoping to hold the next close for its first mezzanine fund in the August-September timeframe, Buyouts has learned. The shop, which launched Maranon Mezzanine Fund LP in early 2008, is targeting $250 million. It held a first close at […]
The Los Angeles Fire and Police Pensions is reviewing responses to the RFP it issued in May for private equity investment advisers to fill the hole left by its termination of Aldus Equity Partners. The limited partner is also considering using a single adviser for both the core and specialized parts of its private equity […]
The Teachers’ Retirement System of the State of Illinois recently added to the list of private equity firms in its emerging managers program with a pledge to a mezzanine fund. It also gave an additional slug to a name-brand mega-fund. In mid-June, the plan sponsor committed up to $25 million to Maranon Mezzanine Fund LP, […]
The first close for a new fund is meant to be a strong statement. A buyout shop wants to come out with an impressive figure, a tally that threatens its target, signaling to prospective limited partners they ought to get in while the getting is good. And if a firm can go “one and done,” […]
Andreessen Horowitz has had a significant impact on the venture industry. But just a few short years ago it was little more than an idea. In July 2009 Marc Andreessen visited with the editors of Reuters Venture Capital Journal (a peHUB sister publication) to discuss his new venture fund. (Partner Ben Horowitz wasn't available because he was closing one of the fund's first deals.)
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Andreessen spoke for about an hour, talking about everything from what A16Z would and wouldn't invest in to his favorite VCs. Enjoy!
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Video date: July 2009