piotrk

Helped shape critical legislation to PE and VC A founding director of the NVCA He was 96 David Morgenthaler, an early venture capitalist who in the 1970s played a critical role securing legislation that shaped both the venture capital and buyout industries, died last month in Cleveland. He was 96. A founding director of the […]

Washington also backs Permira, FountainVest Pension forms separate account with Alinda Washington’s PE portfolio netting 10-year annualize return of 9.61 pct Washington State Investment Board committed $1.3 billion to private equity at its June 16 meeting. Washington made the commitments across three re-ups with existing managers and one first-time investment. The re-ups included funds managed […]

 Before the financial crisis, LACERA invested large commitments into an abundance of private equity funds  Union Square Ventures 2004 realized an IRR of 68.4 percent and investment multiple of 14.1x Candover 2005 Fund performed poorly, with an IRR of negative 9.9 percent and  an investment multiple of 0.6x Los Angeles County Employees Retirement Association committed more than $2.6 […]

 Before the financial crisis, LACERA invested large commitments into an abundance of private equity funds  Union Square Ventures 2004 realized an IRR of 68.4 percent and investment multiple of 14.1x Candover 2005 Fund performed poorly, with an IRR of negative 9.9 percent and  an investment multiple of 0.6x Los Angeles County Employees Retirement Association committed more than […]

Obama proposes changes to tax treatment of carried interest Proposes increase on capital gains Mary Jo White asks for increased SEC budget The Obama Administration released its budget in early February with several new and re-proposed tax increases. The most notable tax proposals would change the tax treatment of carried interest, expand the 3.8 percent […]

SNAPSHOT Company: Premium Credit Ltd Lenders: Barclays Capital, Lloyds Banking Group, Deutsche Bank, HSBC, Société Générale Legal advisor: Kirkland & Ellis LLP, Mayer Brown International LLP Financial advisor: Kessler Group, Riverside Risk Advisors, J.P. Morgan Ltd WHY THEY WON Grew European lender in difficult macroeconomic environment Completed a 200 million pound dividend recap Increased transactions […]

A major issue that has emerged in private equity is how to deal with funds that are approaching the end of their lives. Especially those where the GP continues to collect fees and expenses. The U.S. Securities and Exchange Commission has over the past year increased its scrutiny around this issue. Timothy Mungovan, co-head of […]

If you haven’t raised a fund in a while, you may want to give some thought to working with a placement agent. “A manager who’s been out of the fundraising market for a few years may not realize that the focus has shifted in terms of what people are asking questions about,” said Meredith Gendron, who was […]

Peak Rock hires former Housatonic principal William Kuntz Kuntz will invest in technology and tech-enabled service sectors Peak Rock closed $700 mln inaugural fund in 2013  Peak Rock Capital LLC, a middle-market private equity firm based in Austin, Texas, hired William Kuntz as a principal, focused on investing in the technology and tech-enabled service sectors. […]

Nayef Perry takes over Hamilton Lane’s Fort Lauderdale office Greg Baty left to became a partner at Trivest Florida program invests in-state Hamilton Lane will continue to serve as general partner of the Florida Growth Fund after the February departure of Greg Baty, the firm’s senior professional on the ground in Florida. The fund’s investment […]