Fundraising

Firm: Savano Capital Partners Fund: Savano Capital Partners II Target: $100 mln Hard cap: $125 mln Placement agent: XT Capital Partners Savano Capital Partners, a Baltimore firm with a pedigree in both private equity and secondary venture capital, is on the fundraising trail with a target of $100 million to buy out shareholders in later-stage private companies. Among […]

HarbourVest buys emerging manager platform from BofA Will continue the platform’s long-time focus Six-person investment team joins HarbourVest   Emerging managers have yet another name to consider when hitting the fundraising trail: HarbourVest Partners. HarbourVest just acquired BAML Capital Access Funds, a fund-of-funds platform that commits to managers of first, second or third funds; firms run by women and […]

Leon Black calls current environment a new down cycle Syndicated loans for buyouts face fear, anxiety Firm holds $26 bln in dry powder Apollo Global Management founder and CEO Leon Black famously said in 2014 the firm was selling everything that wasn’t nailed down. Now Apollo has flipped its strategy to invest more than it’s […]

Ares’s Bennett Rosenthal, Apollo’s Josh Harris bullish on distressed debt Markets “ready and expecting some sort of downturn,” says Rosenthal “Our flow of distressed-for-control investments has increased,” says Harris Ares Management and Apollo Global Management expect to deploy their new private equity funds in distressed for control deals, a departure from the traditional buyouts that […]

First PE fund for BBAM BBAM partly owned by Onex Corp BBAM naming fund Incline BBAM, the aircraft leasing specialist that’s half-owned by Onex Corp, is approaching a first close on Incline, its inaugural private equity fund targeting $750 million, according to a source. BBAM is led by CEO Steven Zissis, a 30-plus year veteran […]

Toughest quarter for credit strategies since 2011 President Tony James cites market turmoil Energy sector facing defaults Blackstone Group blamed dislocations in high-yield debt for a quarterly loss in all three of its major credit strategies for the first time since 2011, but said market conditions appear to be leveling off. Overall, the largest private equity […]

Quadrangle reaches agreement with Fund II LPs on extension Fund II extended on same economic terms Former execs help incentivize remaining GPs The Quadrangle Group went to market last year to consider various options for its aging second fund, which was set to expire at the end of 2015. With all the liquidity tools on […]

Firm manages $2.1 bln from institutional LPs Cargill remains an investor Proterra to focus on overseas investments Proterra Investment Partners spun off from agribusiness giant Cargill with $2.1 billion under management, mostly from outside LPs, with a focus on overseas investments in food, agriculture and natural resources, according to an executive with the firm. The firm will […]

Adams Street launches private credit platform Hires two former Oaktree mezzanine executives Not clear if group will raise an external fund Adams Street Partners has hired two former Oaktree Capital Management executives to set up a private credit unit to take advantage of the “secular trend” of banks retreating from mid-market lending. Adams Street, based in […]

PETA video shows supplier Holmes allegedly abusing animals Petco and Pet Supplies Plus drop Holmes PetSmart waiting for results of USDA investigation PetSmart, backed by BC Partners and others, is under pressure to stop doing business with a supplier after an advocacy group released a video showing alleged animal abuse at the vendor. People for […]