I’m going to steal the first question from the title of a research paper you guys put out recently: Are emerging managers worth it? Koenig: There’s a really strong concentration of these first-time funds in the top quartile [of PE fund performance]. Realistically, because that data has been from guys who’ve been successful enough to come […]
Sanjay Gupta joined the bank in 2015 Not clear when or why he left Led U.S. fund investing Sanjay Gupta, head of U.S. fund investing at Caisse de depot et placement du Quebec, has left the organization after about two years. Gupta is no longer listed on the website, his email no longer works and […]
Stake sales are done not simply to cash out founders No word on “angry junior execs” leaving firms in wake of sales Cash is used for growth and GP commitments The private equity world has always seen some angry junior partners, and sales of minority stakes by GPs aren’t driving them to leave their firms, said Michael […]
Use of leverage depends on debt level of each portfolio firm Not seeing inflation in secondaries market Sees a number of large transactions in H2 2017 Benoît Verbrugghe is head of the New York office of Ardian, a fund-of-funds and one of the biggest secondary buyers. Ardian recently sold a significant chunk of its PE portfolio. Why was it […]
Leads PE and VC practice at accounting/tax/advisory firm Tech consulting to enhance access to portfolio company data 10 years in investment banking, left Bear Stearns in 2007 Before becoming a consultant, Jeremy Swan spent 10 years in investment banking, first with Bear Stearns and then with two small boutiques — none of which is still in […]
PRIVATE EQUITY FIRMS Cimbria Capital named Jens Ulrick Hansen a managing director. The Houston private equity firm invests in the water-technology and agribusiness sectors in North America and Europe. Cotton Creek Capital, the Austin private equity firm, hired Nicholas A. Longtin as an associate. Longtin previously was an investment-banking analyst in the global industrials group at UBS Investment Bank. General Atlantic: Preston McKenzie and Eric […]
Warmbier was third-year student in commerce at UVA Was managing director, special situations group, at school’s Alternative Investment Fund Intended to go into investment banking Before he became a pawn in the high-stakes confrontation between Pyongyang and Washington, Otto Warmbier had his sights set on a career in finance. The 22-year-old University of Virginia student died on […]
Breuning worked at the firm since 2006 Made partner at spinout from Barclays Leaving to spend time with family Sam Breuning, a partner at Equistone Partners Europe, left the firm at the end of May, according to a note the firm sent to limited partners June 19. Breuning joined Equistone in 2006 from Bain & […]
Bonderman stepped down after remark to fellow Uber director Huffington Next day, news broke that TPG retail investments leader Wheeler will depart TPG to name successor to Bonderman on the board With David Bonderman’s resignation from the board of Uber, TPG faces the challenge of replacing a founding partner in a supervisory role at a portfolio company in […]
Herchel was AlpInvest ‘point man’ on GP minority stakes Firm was said to be raising $1.5 bln for strategy No fund yet in market Marek Herchel, who recently left AlpInvest Partners for MLC Private Equity, was the firm’s “point man” on the strategy of buying minority stakes in private equity management companies, three sources told Buyouts. Herchel […]