Lawrence Aragon
Everywhere one turns these days, limited partners seem to be talking about zombie funds and the risk they pose to their portfolios. Why do the walking dead haunt us so much now?
Are you an emerging manager? You may want to call yourself something else.
European buyout veteran CVC Capital Partners’ 2001 vintage fund investments have proven the best bets of NYC Police Pension Fund for the period ending Dec. 31, 2011.
Firm: Capital International Private Equity Funds Fund: Capital International private Equity Fund VI Target: $2.5B Hard Cap: $3B Placement Agent: MVision Private Equity Advisers By Stephen Aldred Capital International Private Equity Funds of Hong Kong has closed a $3 billion global emerging markets private equity fund, the largest fund of its kind in five years. […]
Firm: Audax Group Target: Northern Digital (NDI) Entry Price: More than 8x EBITDA Return Multiple: Several times its investment Advisers: Bank of Montreal (to NDI on its purchase); Harris Williams and Morgan Keegan co-advised on the sale Northern Digital had an acquisition opportunity right under its nose. But it took a little push from its […]
Kelly M. Williams, managing director and global head of the Credit Suisse Customized Fund Investment Group, pulls no punches in describing the big challenge that prospective general partners have in winning a commitment from her team. Delivering a keynote address earlier this month at Buyouts Texas, a conference hosted by this magazine, Williams first expressed […]
Name: Thomas DiNapoli Role: New York State Comptroller; Elected fiduciary of the New York State Common Retirement Fund Assets: $147 billion Private Equity: 9.5% of assets; $13.9 billion in invested capital Annual Return (as of June 30, 2011): 21 percent When Thomas DiNapoli was appointed New York’s comptroller in 2007, all hell was about to […]
Chip Schorr, a senior deal-maker focused on technology, has reportedly left The Blackstone Group to launch his own firm, Augusta Columbia Capital, in the latest in a spate of firm spin-outs. Augusta Columbia is in the early stages of raising its fund, and will seek $750 million, according to Dow Jones, which first reported the […]
Unspectacular ReturnsInvestment Multiples On Private Equity PortfoliosNew Jersey State Investment Council: 1.11x as of May 31 Texas County & District Retirement System: 1.05x as of Dec. 31 Public Employee Retirement System of Idaho: 1.18x as of Sept. 30 Source: Financial Reports It’s not often that I come across a stash of private-equity return data from […]
The three keys for emerging manager success in today’s fundraising market? Grove Street Advisors, an advisory firm that got its start in the late 1990s managing an emerging managers program for California Public Employees’ Retirement System, says it’s the following: team and strategy cohesion, operational know-how, and a good track record. (Grove Street prefers groups […]