David Toll
Ottawa Avenue Private Capital LLC, an investment arm of the family office of Richard DeVos, father-in-law to U.S. Secretary of Education Betsy DeVos, has raised at least $420 million for two funds in a series of annual co-investment pools, regulatory filings suggest. The Grand Rapids, Michigan, firm, founded in 2015, had assets in Ottawa Avenue Fund 2017 LP […]
Editor’s Note: The story below may leave the impression that the Michigan Prosperity Fund is a single blind pool. The author wrote a subsequent column clarifying that its sponsor invests on a deal by deal basis. Michigan may be the home of the auto industry and a hub of beer brewing and manufacturing, but the midwestern state […]
The Institutional Limited Partners Association by early next year would like to produce a revised set of recommended LPA terms that will likely address how forthcoming general partners should be with the sharing of SEC exam results. The association has a parallel initiative under way to streamline the wording of select provisions, such as distribution waterfalls. First released in […]
RCP Advisors, a money manager whose research suggests that early funds are a good bet, has put its money where its data is, raising $179.4 million earmarked for young managers of small North American buyout funds. The Chicago firm raised $75 million of the new fund, RCP Small & Emerging Fund LP, from a single […]
RCP Advisors, a money manager whose research suggests that early funds are a good bet, has put its money where its data is, raising $179.4 million earmarked for young managers of small North American buyout funds. The Chicago firm raised $75 million of the new fund, RCP Small & Emerging Fund LP, from a single […]
Just two months after stepping down as Washington State treasurer, a position he held from 2009 to 2017, James McIntire joined Star Mountain Capital as a part-time senior adviser. At the New York firm, which channels money to lower-mid-market companies both directly and through fund investments, McIntire plans to help attract more public pensions as clients. […]
Emerging managers have a lot going for them. Many offer co-investments. Their founders put an abundance of skin in the game and don’t overdo it on the management fees. They pursue specialized strategies that can diversify plain-vanilla portfolios. They’ve performed well overall, although individual funds can be a bit hit-or-miss. Institutional investors investors have been […]
Siris Capital, a popular member of a new class of technology-buyout specialists started in the last decade, is expected to be out in the market either late this year or early next with its third broadly marketed fund. Look for the firm to set a target of at least $3 billion. Speaking Friday at the Columbia Business School […]
Two legislators who sit on influential financial committees held out hope that regulatory relief for buyout firms is on the way. But they seemed less sympathetic on taxes. Speaking on Valentine’s Day at the fourth annual ACG Middle Market Public Policy Summit in Washington, Sen. Thom Tillis (R-North Carolina), a member of the committee on banking, […]
The Association for Corporate Growth has unveiled a set of recommendations for private equity firms looking to steer clear of trouble with the U.S. Securities and Exchange Commission, and a big theme is to spell out policies and procedures up front with investors. The recommendations, which ACG calls principles, “really contribute to and support a culture of compliance, […]