Firms and Funds

Quantum Energy Partners' fifth fund has closed on $2 billion in commitments to date, according to a source. Dan had flagged the firm's fundraising efforts in July, when the firm had just under $1 billion in commitments. The energy-focused buyout firm will issue rolling closes on commitments until it reaches its target of $2.75 billion. MassPRIM, Nebraska Investment Council, New Mexico PERA and CPP Investment Board are on board, along with a variety of endowments and corporate and international LPs. Champlain Adivisors is the firm's placement agent.

Talk to any big buyout fundraiser over the past two years, and you’ve heard the following refrain: “If the economy goes south and traditional fund capital sources – U.S. pensions, endowments private foundations, etc. – cut back on new commitments, we’ll be okay because of the sovereign wealth funds.” This line was not in reference […]

Last month, federal regulators loosened restrictions on private equity investment in financial services companies. The move has not, however, sparked a rush of PE activity in the sector. Part of the hesitance has been shellshock from the troubles of J.C. Flowers and TPG Capital. A larger part has been that the new regs still prevent private equity firms from […]

Greece’s chief central banker warned that anyone spreading false rumours regarding bank troubles could face charges by the public prosecutor, Greek media reported on Tuesday. Monetary authorities are concerned that rumours on the solvency of banks amid the global financial crisis may spark a run on deposits, hitting particularly smaller banks. “When there is a […]

It’s kind of like a model exclaiming “Don’t hate me because I’m beautiful.” Thanks to strong performances, energy-focused buyout funds are meeting LP’s allocation caps. How can that be possible, you ask? It’s all about percentages. An LP told me there are a number of strong energy-focused firms in the market “that are working harder […]

Gordon Brothers Group has formed GB Investment Management Group, an umbrella group to manage all of the firm’s funds and legacy investments.

Insight Equity II is just a little more aggressive than its predecessor. The $500 million fund, which is in marketing mode right now, has the potential to collect 30% carried interest on its investments, depending on returns. That’s an increase from Insight Equity’s first fund. In addition to that, Insight is raising a $275 million […]

One is a Dallas-based lower middle market turnaround LBO firm led by a Bain & Co alum. The other is a Dallas-based lower middle market turnaround LBO firm led by a Bain & Co alum. Insight Equity and Prophet Equity. They’re both in fund-raising mode, so which one do you pick? I’m not going to […]

Healthpoint Capital is raising up to $700 million for its third fund, according to a regulatory filing. It has already secured more than $410 million in capital commitments. The New York-based firm focuses on private equity opportunities in the musculoskeletal sector — specifically orthopedics and dental. It closed its second fund in early 2007 with […]

NEW YORK/WASHINGTON (Reuters) – The House of Representatives approved a $700 billion bailout package for U.S. banks, under pressure from all sides as the effort to head off a spreading financial crisis hung in the balance. The House approved the financial rescue plan by a vote of 263-171, sending the measure to President George W. […]