David Toll
Firm: Hamilton Lane Fund: Hamilton Lane Co-Investment Fund III LP Amount raised: $849.6 mln Offering amount: $1.3 bln Hamilton Lane is putting together one of the largest co-investment funds ever earmarked for buyouts and other late-stage deals, having secured $849.6 million through year-end toward an upwardly revised goal of $1.3 billion. The Bala Cynwyd, Penn.-based adviser, […]
A significant percentage of mid-market lenders predict leverage multiples will continue their recent descent while yields will continue to rise in 2015, tossing more cold water on a credit party that sponsors have enjoyed for most of the post-financial-crisis years.
Everyone knows it takes a good four or five years for a private equity fund to mature to the point where results are meaningful. But it is still tempting to try to identify early winners from more recent vintages. And on that front early high achievers among buyout funds for Oregon Public Employees Retirement System include the vintage 2010 Veritas Capital Fund IV (1.89x investment multiple) and the 2011 vintage WLR Recovery Fund V (1.54x) and Advent International GPE VII-C (1.36x).
The California Public Employees’ Retirement System reports in its latest annual performance review that its private equity portfolio has lagged its public-equities-based benchmark over the last 10 years. An analysis of the portfolio by data provider Bison using a proprietary calculation provides clues as to why. In its annual review, due to be presented at its Dec. 15 […]
The departure of Thomson Reuters and what used to be called its Venture Economics division from the field of performance benchmarking has left a vacuum that relative newcomer Bison has been working to fill.
Long-time fund-raisers Mac Hofeditz and Shannon Zoller have joined the San Francisco office of investment bank GCA Savvian Corp to launch a fund placement business. The firm has won its first two mandates, including one for University Ventures, and appears close to landing a third.
Kenneth J. Kencel has resigned as president of Carlyle GMS Finance, a mid-market lending business of The Carlyle Group that recently passed the $1 billion mark raised on its debut fundraise but that has also seen several recent executive departures.
A little-noted aspect of the first set of examinations of private equity shops by the U.S. Securities and Exchange Commission is that the agency in some cases picked firms considered to be more likely to have compliance problems. That fact may help explain the high percentage of problems found.
So many legislators have proposed raising taxes on carried interest that it is easy to lose sight of just what their beef is. Now a University of California law professor has written a paper explaining the main possible objections and the best way to address them.
Distressed debt and turnaround specialist Ares Management, which went public earlier this month, is out collecting commitments for Fund IV in its family of ”special situations” funds, Buyouts has learned.