Fundraising

Howard Morgan, Tariq Osman, Heather Faust on roster All three worked at Castle Harlan, now renamed CHI Private Equity Castle Harlan scrapped plans for Fund VI in 2015 Four executives that left Castle Harlan earlier this year have formed Argand Partners, a New York-based middle-market firm, according to a filing and the firm’s website. It’s […]

The California Public Employees’ Retirement System released its long-awaited study of how much it paid private equity managers in carried interest over the years. The results were less than alarming: The numbers show CalPERS paid $3.4 billion to all active managers since 1990 and collected $24.2 billion in realized net profits during that time. (CalPERS […]

Michael Tyler, then senior investment analyst-private markets at Public School Employees’ Retirement System of Pennsylvania, wrote in a March 2013 investment recommendation that New Mountain Capital “has not lost a person at or above the VP level since the start of Fund II,” a vintage 2005 pool. It was a noteworthy achievement for the New York buyout shop given the importance […]

Firm targets $325 mln with $375 mln hard cap Held close in November Fund generated buzz among LPs Mainsail Partners, a small firm that targets the lower middle market, generated big buzz among limited partners during its circuit of Spring annual meetings. It’s not clear exactly when Mainsail launched Fund IV. The fund is in the market […]

Firm markets to U.S., European investors for first time Target more than $155 mln Fund III eJnn invests in environmental services, consumer sectors Chinese private equity firm eJnnn Phecda Partners (eJP) is marketing its flagship fund to U.S. and European limited partners for the first time, sources with knowledge of the vehicle told Buyouts. eJP, a […]

Audax Private Equity Fund  IV LP, the 2012 vintage buyout fund from Audax Group, logged an IRR of 20.68 percent for the Montana Retirement System through June 30, according to data from Cambridge Associates. That’s above the top-quartile threshold of 15.42 percent for that vintage, according to Cambridge. Geoff Rehnert, co-chief executive officer of Audax, […]

Shadow capital seen at $161 bln in 2015 Lower fees for co-investments cited Private equity funds expected to draw in $468 bln LPs across the global private equity arena will put an estimated $161 billion into co-investments, direct investments and separate accounts this year, according to a study by placement firm Triago. Broken down, separate accounts comprise 40 percent with $64 […]

MidOcean’s next flagship fund expected next year Could target as much as $1 bln Bridge fund raised earlier this year is almost fully deployed MidOcean Partners is moving into the next phase of its comeback plan. The firm, led by Chief Executive Officer Ted Virtue and Chairman Steve Miller, will bring its next flagship fund […]

Smith: “Make them overpay” Vista invests more in product development than Lockheed, Smith says Software specialist nets top-quartile returns Vista Equity Partners is sick of “tourist” generalist funds crowding into the enterprise software sector, and the firm is not afraid to price them out of the market. In a December 2 keynote talk at PartnerConnect […]

SEC examines exempt firms fingered for bad behavior Exempt firms not coming under routine examination cycle Exempt firms get on SEC radar usually through tips Private equity firms exempt from registering with the SEC can rest easy: The SEC has not suddenly decided to examine you. A recent speech by Marc Wyatt, director of the SEC’s […]