David Toll
Kenn Lee has left advisory shop TorreyCove Capital Partners after nearly six years to join Cheyenne Capital, a firm looking to parlay its success building and harvesting a private-equity portfolio for the state of Wyoming into a larger business.
It’s easy to forget that consolidations are fragile things, easily dashed to bits by culture clashes, IT incompatibilities and political infighting. Pamlico Capital found the right formula for folding companies into transportation technology provider TMW Systems. And it led to a spectacular jump in equity value.
1) Tell us about Thrivent Financial for Lutherans. Basically we’re a mutual insurance company that sells life insurance and annuities and because we focus on a particular affinity group we are a tax-free entity. There are 100 other fraternal benefit societies like ours, but we’re by far the largest in the category by a big […]
American Securities has scored some early successes in distressed debt investing, pointing the way for other mid-market shops looking for a diversification move that can attract significant institutional money.
Arsenal Capital Partners, a New York-based lower-mid-market specialist, is leaving financial services behind as it continues to deploy its third pool of capital, which closed at $875 million in mid-March. The firm also plans to continue a shift from pharmaceutical products and services to health care business services that help drive down costs.
The private equity and finance group of Brookfield Asset Management, Toronto, has wrapped up a $1 billion fund earmarked for mid-market turnarounds and other special situations where the firm can bring its operational expertise to bear. The goal: multiplying its equity investments by two and a half times.
One of the fundamental principles guiding investors in private equity has been that of persistence of performance. If investors want to back a top-quartile fund, and they all do, a good starting point has been to make sure the predecessor funds were top-quartile.
A recently settled court case shows how important it is that investors negotiate airtight divorce clauses in their limited partnership documents. It also demonstrates the advantages, for investors, of negotiating the no-fault variety of the clause.
The fundraising gods haven’t been kind to funds of funds in recent years. But that hasn’t stopped Pathway Capital Management from making big strides on a pair of recent pools.
Pathway Capital Management appears to have wrapped up its latest fund at $955.4 million, raised from just three investors, according to a regulatory filing. The investment strategy of the fund isn’t clear from the filing, but the firm is known as a prolific raiser of funds of funds.