Firms and Funds

Target: Meadow Valley Corp. Price: $61.3 million Sponsor: Insight Equity Seller: Shareholders Financial Adviser: Sponsor; Seller: Alvarez & Marsal Securities Legal Adviser: Sponsor: Hunton & Williams LLP; Seller: DLA Piper USA LLP Insight Equity is carving out a niche for itself as one of the only mid-market buyout shops comfortable investing in what could be […]

Bay Hills Capital may have closed its debut fund of funds below the original target but the San Francisco-based shop is already in rally mode, scoring an additional $50 million mandate from the Kentucky Retirement Systems to boost the limited partner’s support of emerging managers. And if that wasn’t enough, Lance Mansbridge, managing director and […]

LONDON (Reuters) – Private equity firm Carlyle Group is aiming to raise as much as $3 billion to invest in financial assets, of which about $1 billion has already been lined up, a source familiar with the situation said on Friday. The firm, which has said in the past it was keen on investing in […]

LONDON (Reuters) – SVG Capital, a London-listed private equity fund and main investor in European buyout firm Permira PERM.UL, said that private equity investor Coller Capital has bought a 23.9 percent stake it. The unlisted Coller, which specialises in buying second-hand assets from other private equity investors as opposed to investing directly in funds, declined […]

(Reuters) – Private-equity firm Apollo Management has hired financier Henry Silverman as chief operating officer, the Wall Street Journal said, citing people familiar with the situation. Apollo did a number of deals during the private equity boom and has investments in companies including gaming firm Harrah’s Entertainment Inc, Claire’s Stores and real estate company Realogy. […]

There isn’t that much secondary business to be had. Why? Because there are no buyers! More groups of secondary buyers have left the market than entered it, according to Richard Lichter of Newbury Partners, a buyer of secondary interests. During strong economic times, fund-of-funds, family offices and pension funds were more active in the secondary […]

Paul Capital has met the $455 million target for its fourth private equity fund-of-funds, according to an SEC filing. The vehicle, called Paul Capital Top Tier investments IV LP, was formed in April of 2007. Its prior fund-of-funds is a 2005 vintage with $626 in commitments. That $455 million comes from 19 investors, including Coal Pension Trustees Services, Florida Retirement System Trust Fund and Ohio Public Employees Retirement System. The filing describes the business as “Venture capital investment partnership,” although the firm’s website states that that includes small cap buyout funds as well. The fund also makes co-investments.

Third Wave Acquisition Corp. has withdrawn registration for a $350 million IPO. The Greenwich, Conn.-based blank-check acquisition company was to be run by Barry Sternlicht, chairman and CEO of Starwood Capital Group.

Investors in the Lehman funds being sold out of the bankrupt bank's estate have a few weeks to make up their minds whether to support the deal or not. One carrot is that the limited partners in Fund IV are being offered the opportunity to reduce their commitments by about a third, according to a source. Of the two funds being sold as part of the deal, Fund III is mostly invested, while Fund IV is largely un-spent. That means LPs will be facing capital calls over the life of the fund. With a number of LPs over-allocated to private equity, cutting some future commitment could be advantageous.

Frontenac Company, a lower middle market private equity firm based in Chicago, quietly closed its ninth buyout fund in December, according to Thomson One Banker’s database. T1 Banker gets its info directly from the firms. The firm did not return multiple calls for comment. The reason, perhaps, is that it appears Frontenac lowered its fund […]