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Minnesota State Board of Investment’s real-assets portfolio has outperformed the $22.8 billion pension’s five other alternative portfolios, including private credit and private equity — a surprising result given that real assets and private credit are generally considered less risky strategies. Real assets, with 35 funds, generated a 15.81 percent internal rate of return and a […]
The economy is proving resilient and sponsor-driven M&A shows no indication of a slowdown, as buyers prove willing to pay up for assets they believe in. “While we may be in the 8th inning, this 8th inning may last another three years, and people are not in the business of sitting on the sidelines,” Mike […]
Community Pharmacy Partners, the specialty pharmacy network focused on alternatives to prescription opioids to treat pain, is weighing a sale, Buyouts has learned. Stifel is offering sell-side advice to the privately held company, according to people familiar with the matter. Founded in 2014 in response to the opioid epidemic, CPP focuses on site-specific topical medications to treat patients’ […]
As L Capital gears up to launch a fundraising process for its second fund later this year it won’t be seeking out traditional investors. That’s because L Capital, which makes co-investments in technology, media and telecom companies, isn’t any ordinary private equity firm. To start with, the firm is the equity investment affiliate of Lancer […]
Deals are still getting done in a market where elevated prices are the new norm, but GPs flush with cash are working harder than ever to uncover and lock down the finest opportunities. “I came into 2018 hoping that we would see some level of abatement in [prices] and competitive intensity, and I’m still waiting,” […]
Watermill Group has sent a letter to its portfolio companies, advocating for a culture of safety and calling on its management teams to update their codes of conduct and launch sexual-harassment training throughout their organizations. The letter, which comes in the wake of the #MeToo movement, appears to be one of the first instances in […]
WHY THEY WON 4.5x gross MOIC 57.9 percent gross IRR Grew EV by over 2.5x Ebitda and revenue growth about doubled Altus Capital Partners’ bet on how the rail-infrastructure market is evolving boded well for the Wilton, Connecticut, private equity shop. Less than four years into its investment, Altus in May 2017 sold Rocla Concrete Tie for […]
Where is private equity’s “Me Too” moment? The venture capital world has been rocked with revelations of sexual harassment and bad behavior by venture GPs. That includes Justin Caldbeck, co-founder of VC firm Binary Capital, who called it quits after several female entrepreneurs last summer came forward with stories of unwanted advances. Sam Isaly said he would […]
Last year was a blockbuster for private equity fundraising, but emerging managers continued to face challenges: Final closes by first-time funds fell 20 percent from 2016, data provider Preqin reports. That drop reflects overall industry trends. With 2,296 funds seeking $744 billion — an all-time high — competition for LP commitments is fierce. Receiving record distributions, in excess […]
Emerging managers need more than a concrete niche thesis to succeed in hypercompetitive markets like business-to-business software, the CEO of K1 Investment Management said Friday. “In the late part of the cycle like we’re in right now, it’s increasingly frothy, increasingly expensive, and you’re likely having to take a lower return, and you’re often trying […]