piotrk
Middle-market investor Brightstar Capital Partners is preparing to raise its sophomore fund, sources familiar with the fundraising told Buyouts. The New York firm hired Eaton Partners as a placement agent, the people said. Brightstar is aiming to raise more than $700 million; however, the official target is currently undetermined, they said. The firm raised $710 […]
AUM: $14.4 bln PE Target: 15 pct/actual 14.5 pct Contact: CIO Andrew Sawyer, Andrew.Sawyer@mainepers.org Maine Public Employees Retirement System committed $165 million to private equity and private credit funds at its June meeting, according to Chief Investment Officer Andrew Sawyer. The system committed up to $50 million to Solar Capital Partners’ Private Corporate Lending Fund […]
Providence Equity Partners has put software maker OEConnection on the block after a three-year hold, three sources familiar with the process told Buyouts. First round bids are due in two weeks, the people said. UBS is advising Providence on the sale, they said. Cleveland-based OEConnection (OEC) makes software for the automotive market, including distributors and original equipment […]
Why is this important: Borgman Capital focuses heavily on industries that drive the economy in the Midwest Sequoya Borgman was no stranger to the world of private equity before he formed Borgman Capital, a Milwaukee-based independent sponsor, in 2017. He spent 20 years as a certified public accountant at some of the largest accounting firms, […]
Why this is important: Altacrest Capital leverages its partners’ experience in consumer products and business-to-business to make deals Tim Laczkowski is taking the skills he learned after working 15 years at Prudential Capital Group and using them in buying and growing lower middle market businesses. Laczkowski formed independent sponsor Altacrest Capital in 2017 to invest in […]
Bain Capital Double Impact is set to make 3.1x its money on the sale of Impact Fitness to Morgan Stanley Capital Partners, sources familiar with the deal told Buyouts. Bain Capital and Bridges Fund Management, which had a minority stake, both fully exited their stakes in the company. The deal closed on June 6, the sources said. Harris Williams advised Impact Fitness and Bain […]
Aaron Sack is head of Morgan Stanley Capital Partners where he also leads the consumer investing group. Sack told Buyouts in a recent interview about how the firm approaches the market. 1. How does deal-making in 2019 differ from previous years? Do you see any new dynamics around auction processes? I think there is somewhat of a recalibration by the markets for what is acceptable and we will […]
The fundraising frenzy couldn’t last forever. U.S.-based buyout and mezzanine fundraising drastically slowed. Since the last issue of Buyouts, fundraising added $1.3 billion to its YTD total, which now stands at $140 billion — $61 billion more than the 2018 YTD total. Proterra Investment Partners outraised all firms. Its sustainable agricultural fund raised more than $303 […]
Thoma Bravo has put Continuum on the block after a two-year hold, three sources familiar with the deal told Buyouts. The process is in the early stages, people said. Thoma Bravo is accepting first-round bids for Continuum, sources said. It’s unclear when the offers are due. UBS is advising Thoma Bravo on the sale, the people said. Continuum is the […]
AUM: $29.13 bln PE portfolio: $1.22 bln Contact: Chris Schelling at cschelling@tmrs.com Texas Municipal Retirement System upsized its commitment to Updata Partners’ flagship fund. The system’s investment of as much as $25 million to Updata VI, which focuses on growth investments in software companies, will apply to its 2018 pacing plan rather than its 2019 PE pacing model, a presentation […]