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WM Partners has collected $230 million for its debut fund and expects to close the pool soon, sources said. Vanterra Capital, New York, is serving as anchor investor of the fund, which has a $300 million target, one source said. VCP Advisors is placement agent, people said. WM began marketing Fund I in 2016, Buyouts reported. The Fort Lauderdale, Florida, […]
Sohail Lalani has left Abu Dhabi Investment Authority after 10 years to join Public Sector Pension Investment Board, or PSP Investments. Lalani is a senior director, private equity-Americas, PSP confirmed Jan. 18. Based in Montreal, he is focusing on direct PE investments in the Americas. At ADIA, Lalani most recently was a portfolio manager, principal investments, PE, […]
Two senior Madison Capital Funding executives, including a co-founder and the recently promoted head of capital markets, are exiting the firm. Thomas Klimmeck, a Madison Capital senior managing director, and Tricia Marks, a managing director and head of capital markets, will both retire later this year, the firm said in a statement. Klimmeck helped start Madison […]
Fundraising posted another record-breaking year in 2016 with 807 funds raising a combined $345 billion as of Jan. 3, according to Preqin. The total may increase another 10 percent as more information becomes available, which would put it above the post-crisis record of $348 billion set in 2014, Preqin said. The $345 billion also represents […]
Aquiline Capital Partners is launching a technology growth fund that will invest in early- and growth-stage companies. The New York private equity firm said Jan. 4 that it had hired Max Chee and Michael Cichowski to run the Technology Growth Fund. Chee, the former managing partner of Millennium Technology Value Partners, will head Aquiline Technology Growth. […]
HGGC’s third fund needed less than 100 days to blow past its $1.5 billion target and close at its $1.75 billion hard cap. Just in time for Steve Young’s holiday party. Including about $80 million in GP commitments, HGGC Fund III weighed in at $1.84 billion, said Rich Lawson, co-founder and CEO. “We couldn’t be more […]
Riverside Co’s new senior-debt team, headed by David Dobies, is in the market with its first fund, a source said. Riverside Credit Solutions is targeting $250 million to $500 million with its debut pool, the person said. The fund will seek to invest in lower-middle-market companies with $5 million to $35 million of EBITDA, the […]
Some 47 percent of private capital firms increased firm-wide base salaries between 2015 and 2016, a study from Preqin found. More than half didn’t boost salaries: 38 percent left them unchanged and 15 percent cut them between 2015 and 2016, Preqin said. Of those that did increase salaries, 7 percent boosted them by more than 10 percent, […]
Inkwell Group launched with the goal of building value by adding diversity to its portfolio companies. Founded by Chijioke Asomugha and Marques Martin, two PE executives of African-American descent, the lower-middle-market firm will install diverse executives and boardroom leaders at its PE holdings. Martin pointed to the “Inkwell suite,” which currently has 10 operating executives and […]
Ken Spain, the former spokesman for the American Investment Council (formerly the Private Equity Growth Capital Council), joined the GOP lobbying firm CGCN Group as a partner. The Washington firm recently started up a communications practice, which Spain is running along with Patrick O’Connor, a former Wall Street Journal journalist. O’Connor is also a partner, Spain said […]