David Toll
If you were wondering why so much money is trying to find a home in mid-market leveraged loans, look no further than the track record of Audax Group.
Having covered private equity for 15 years, I don’t often come across a U.S. buyout firm trying to raise $1.5 billion that I’ve never heard of before. But such is the case with Tinicum Inc., a New York firm that invests money on behalf of the Ruttenberg family. According to its bare-bones Web site, the […]
Firm: KarpReilly LLC Fund: KarpReilly Capital Partners II LP and KarpReilly Co-Investment Fund II LP Raised: $180 million and $120 million, respectively KarpReilly LLC, a lower mid-market shop targeting consumer companies, has taken in $180 million for its second fund in an initial close, along with $120 million for a companion co-investment fund designed to […]
Timing the fickle IPO window, dealing with high expectations for quarterly earnings, and contending with sagging stock prices—such are the indignities faced by buyout shops wishing to reach retail investors through public offerings. Now some mega-firms have blazed a new path to the retail market. So-called nontraded business development companies (BDCs) can raise money from […]
AlpInvest Partners, the funds-of-funds business of The Carlyle Group, has taken a pretty big hit so far from its vintage-2006 investments, according to a regulatory document. Carlyle acquired a 60 percent equity interest in AlpInvest last year as part of the build-up to its initial public offering in May. The unit, which manages more than […]
AlpInvest Partners, the funds-of-funds business of The Carlyle Group, has taken a pretty big hit so far from its vintage-2006 investments, according to a regulatory document. Carlyle acquired a 60 percent equity interest in AlpInvest last year as part of the build-up to its initial public offering in May. The unit, which manages more than […]
Far larger than predecessor fund Backers include Florida, U. of Calif. Reasons for loss unclear Kelso & Co. closed a buyout fund that was more than twice the size of its predecessor when it wrapped up Kelso Investment Associates VIII LP in mid-2008. But through year-end its performance hasn’t been nearly as good. The $5.1 […]
A return to private equity following a five vintage-year break in the mid-2000s has given the Kansas Public Employees Retirement System portfolio a shot in the arm, thanks in part to well-timed investments in non-control distressed and opportunistic credit funds. Among the best-performing of those funds: Ares Corporate Opportunities Fund III LP, a 2008-vintage fund […]
A number of institutional investors are both limited partners in the funds of publicly traded buyout shops Apollo Global Management and The Blackstone Group as well as shareholders in those companies. Other recent shareholders of publicly traded buyout shops include rival buyout firms: Bain Capital LLC, for example, until last year held shares in Kohlberg […]
Investors may be in the driver’s seat these days when it comes to partnership terms and conditions. But through separate accounts and side letters, big investors are driving down costs and building customized investment programs at an accelerated pace—threatening disharmony with their shallow-pocketed brethren. Perhaps the biggest threat to small investors comes from separate managed […]