Sarah-Marie Martin has resigned as co-head of Credit Suisse Group AG’s Americas financial sponsors group, which focuses on private equity firms, to join Goldman Sachs Group Inc, people familiar with the matter said. Martin’s departure comes after Credit Suisse passed on financing several leveraged buyouts this year, including Apollo Global Management LLC’s $6.9 billion acquisition […]
1. The Cambridge Associates U.S. PE index generated negative 1.4 percent in the third quarter, the first negative return in three years. To what do you attribute this? That was really the impact of energy-price declines feeding through to the private-equity market. The sector was down 12 percent, and that muted returns for the asset […]
Bregal VP Daryl Yap to join AIP To work in business development AIP closed Fund VI last year Daryl Yap, a vice president at Bregal Private Equity Partners, is joining American Industrial Partners, according to three people with knowledge of the move. Yap has worked as a limited partner at Bregal since 2010. It’s not […]
Lawrence Schloss to leave the firm after more than two years Firm has no plans to replace him Not clear why Schloss is leaving Lawrence Schloss, president of Angelo, Gordon & Co, is leaving the firm after more than two years, according to a letter the firm sent out late Friday. The firm has no […]
A major issue that has emerged in private equity is how to deal with funds that are approaching the end of their lives. Especially those where the GP continues to collect fees and expenses. The U.S. Securities and Exchange Commission has over the past year increased its scrutiny around this issue. Timothy Mungovan, co-head of […]
1. Can you give an update on your firm’s history and what sets it apart? Constitution Capital Partners spun out of Standard Life Investments in 2007 and in 2008 we launched the firm and landed our first account with Universities Superannuation Scheme (USS) for $750 million. We closed on our first commingled product, Ironsides Partnership […]
The following hires and promotions are for the March 21, 2016, issue of Buyouts.
Distressed-securities chief Tom Fuller leaves firm Succeeded by Gavin Baiera Firm expands distressed-investing team Tom Fuller, former senior managing director and chief of Angelo, Gordon & Co’s distressed-securities business, left the firm at year-end, a spokeswoman confirmed. The reason Fuller left and his next step are as yet unclear. Gavin Baiera, managing director and global head of corporate […]
Eyes SEC interest around zombie funds SEC trying to work closely with private equity Regulators down on accelerating monitoring fees Aaron Schlaphoff, who recently joined Kirkland & Ellis as a partner after working at the Securities and Exchange Commission, in an interview with Buyouts flagged compliance issues for GPs around zombie funds, accelerated monitoring fees and other potential sticking […]
It’s perhaps inevitable that we would write a story on women in private equity and receive a nasty anonymous email in response. I won’t go into the details, but suffice to say it wasn’t supportive of women. To be sure, the nasty email was only one of many responses we received on our work — […]