Fundraising

Ratings firm stress tests public BDCs Sector mixed with stable, negative ratings Fitch studies impact of total write-down of energy assets As carnage in public equities around oil and gas price bleeds into private markets, Apollo Investment Corp and PennantPark Investment Corporation carry the largest exposure to the hard-hit oil and gas sector among the […]

As we take this issue to press, the financial world is spiraling into a vortex of pessimism. The markets have been battered on various concerns, primarily a downturn in China. Oil and gas, which has been such a big driver of economic growth in the United States, is a shambles as overproduction and falling demand, especially […]

Strategic mix complicates benchmarking Less than half of New Jersey accounts are top quartile for PE Breaking down accounts Private equity separate accounts often feature bespoke investment strategies and reduced fees, making them a popular option for limited partners like the California Public Employees’ Retirement System and New Jersey Division of Investment. LPs committed $127 billion to separate accounts between […]

Conference attendance hits record 1,200 TRS pledges $1.3 bln through 2019 to emerging managers Pros eye challenges from volatile markets, China, low oil prices A record crowd gathered in Austin, Texas, recently to discuss the future of emerging managers amid an investment climate that could dampen strong returns delivered by smaller firms. The Emerging Manager Conference, […]

Leonard Green sets $9.1 bln hard cap on Fund VII Raising target from $7.5 bln to $8.5 bln Has demand well over the cap Leonard Green & Partners boosted the target on its seventh fund to $8.5 billion and set a hard cap at $9.1 billion, according to three people with knowledge of the fundraising. […]

Andrei Brougham joined Greenhill Cogent in 2009 Brougham left in November Not clear if he is taking a job elsewhere Andrei Brougham, a vice president with Greenhill Cogent, has quietly left the firm, according to a source. Brougham’s LinkedIn profile said he worked at Greenhill Cogent from July 2009 to November 2015. He started as […]

Advent International has the most ambitious target among U.S. buyout and mezzanine firms, seeking $12 billion for its eighth global private equity fund. Altogether, Buyouts counted 289 private equity funds currently in the market. Behind Advent are mega-funds from the usual suspects, including Blackstone Group, KKR and TPG Capital.

Private equity fundraising has been on the upswing, growing just about every year since the Great Recession. Based on the number of open funds and the targets yet to be reached, 2016 could easily exceed the heights achieved last year.

Fund VIII LPs sell $150 mln to $500 mln worth of stakes Ardian offered LPs 100 pct of NAV as of December 31, 2014 Cap on the tender offer was $1 bln Kelso & Co completed a tender offer for its eighth fund with between $150 million to $500 million of limited partner interests sold to […]

Firm: Pimco Fund: Corporate Opportunities Fund II Amount raised: $424 mln Pimco disclosed $424 million in commitments for Pimco Corporate Opportunities Fund II, a credit-oriented strategy from the unit of German insurer Allianz SE, according to filings. The fund is raising money at a time of upheaval in the junk bond market sparked by distressed […]