David Toll
Falcon Investment Advisors has taken in $909.7 million for the fourth in its family of mezzanine funds, handily beating its $850 million target.
Castanea Partners, a mid-market firm that backs companies with strong consumer brands, and which scored a roughly 8x return on make-up company Urban Decay, is out raising a fourth fund, according to two sources familiar with the effort.
John Kim is stepping down as a partner at Court Square Capital Partners to join Kelso & Co., a New York buyout shop that appears to be gearing up to raise a new fund.
Sarah Sandström has stepped down as a partner at placement agency Atlantic-Pacific Capital to join Lazard.
The advisory business has been a tough place to grow over the last few years as the institutional do-it-yourself movement gained momentum. But via a prescient bet on separate accounts before they became all the rage, and recent acquisitions, StepStone Group LP has a big head of steam.
Kate Sidebottom Simpson has joined TrueBridge Capital Partners, a funds-of-funds manager known for building concentrated portfolios of venture capital and growth equity partnerships, as an associate in the firm’s Chapel Hill, North Carolina office.
So much academic research demonstrates what you long suspected. And a new paper showing that interim fund performance influences whether a firm can raise a subsequent fund, as well as the size of that subsequent fund, is no exception.
Have-nots, zombie funds, bottom-quartile performers. These are the labels sponsors desperately tried to avoid in the post-crisis years. Now that a fundraising recovery is in full flower, some sponsors are being showered with a more positive set of labels. One-and-done funds, premium-carry firms, rock stars.
At our Buyouts Texas conference in December, we asked a variety of conference participants the biggest surprise of the year affecting the private equity industry. Herewith, a roundup of their responses:
Terms and conditions may have become more LP-friendly in recent years. But that doesn’t mean limited partners won’t offer a sweetener to encourage exceptional performance.