Fundraising

The global PE horizon IRRs benchmarks from Pitchbook show that funds of $1 billion or more provided the highest returns from the three-year mark and beyond. And since private equity is inherently a long-term investment, LPs looking for better returns should look to bigger funds, according to the data. Photo courtesy of ShutterStock

Asian-Pacific private equity and venture capital funds produced very strong returns for members of the Institutional Limited Partnership Association across all time periods, including the highest IRR on the board, with 24.35 for the one-year mark. Natural Resource funds have suffered in the recent time frames, amidst the turmoil in the oil and gas sector. […]

Aurora targets $750 mln for Fund V Eyes first close on $500 mln in January To launch next Resurgence fund in early 2016 Aurora Capital Group is back in the market targeting $750 million to $800 million for its fifth flagship fund, according to a person with knowledge of the fundraising. Aurora, founded in 1991 […]

Some 33 private equity-backed companies, with a total of more than $91.3 billion in affected debt, appeared on the Standard & Poor’s “weakest links” report from November 6. That marks the highest combined affected debt in more than four years for portfolio companies on the monthly list, which highlights companies most at risk of default. […]

Firm targets $3.75 bln with $4 bln hard cap Final close expected in spring of 2016 Madison Dearborn “on the upswing,” says LP Madison Dearborn Partners recently held an interim close on $3 billion for its latest flagship vehicle, two sources with knowledge of the fund told Buyouts. The firm announced the interim close at […]

JH Partners censured pays $225k penalty Firm made loans to portfolio companies without telling LPs Breached concentration limits on single investments An SEC compliance examination uncovered some interesting activity at consumer-focused JH Partners that resulted in a settlement and censure of the firm for conflicts involving undisclosed loans to portfolio companies. The SEC reached a settlement […]

Rather than a traditional fundraise, you might say Warburg Pincus spent a few months arranging limited partner allocations to its latest flagship fund like a jigsaw puzzle. The requested commitment size of every LP in the fund, which recently closed with $12 billion in external commitments, was “cut back,” according to a person with knowledge […]

I met with an LP the other night for drinks at one of the fancy bars financial types frequent. We chatted about the state of the market, and as is usually the case, the LP wanted to compare notes about certain GPs. “What have you heard?” I usually get that question when an LP is […]

PetSmart leads the pack as the largest buyout in the southwest High tech, industrials and energy top deal sectors Lone Star Funds was top fundraiser in the region Low oil prices cast a chill over the Southwest deal-making this year, but sponsors say the market is starting to heat up again. The region accounted for 234 of […]

The lesson drawn from several early SEC enforcement actions taken against sponsors is that they shouldn’t keep investors in the dark on how they handle the allocation of fees and expenses. It is especially problematic when their allocation happens to benefit them at the expense of investors. According to a new study, investors refuse to wait for private equity firms to […]