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Royal Bank of Canada’s wealth management division, Canada’s biggest player in the high net worth arena, is on the lookout for acquisitions to grow its presence in alternative assets, particularly real estate, and beef up U.S. distribution.
Spectrum Equity quickly blew past the target for its latest fund.
A study of 79 global buyout firms conducted from 2011 to 2013 found that more than half of those in partner-level positions (57 percent) have MBAs, while 7 percent have a law degree, according to a draft academic paper.
Overall, global buyout firms in a recent survey said that more than a third of their closed deals (36 percent) were proactively self generated on average, followed closely by investment bank-generated with 33 percent.
U.S.-based buyout and mezzanine shops raised more than $78.9 billion in capital through June 6. The latest fundraising tally is more than twice the $36.9 billion recorded through mid-June in 2013.
The proportion of equity used to finance U.S. leveraged buyouts fell by 6 percentage points, from the 44 percent recorded in the last quarter of 2013 to 38 percent in the first quarter of 2014.
Harvard University continues to have the largest endowment for fiscal year 2013 (ended June 30) with more than $32 billion.
Terry Garnett and Dave Helfrich, the guys behind technology buyout firm Garnett & Helfrich Capital, could probably raise a second fund. The question is, why haven’t they?
Since January 1, 2009, the plurality of buyout funds raised by U.S.-based shops have been between $100 million and $300 million in size.