Steve Bills
Even though large syndicated mega-deals have fallen out of favor since the financial crisis, dealmakers at Kohlberg Kravis Roberts & Co. remain confident of their ability to mount a major buyout—but not necessarily in cahoots with other sponsors.
KPS Capital Partners LP is poised to pay itself and investors a hefty dividend from Waupaca Foundry Inc., an automotive parts company that the New York buyout shop acquired last summer. Ratings agencies affirmed the carveout’s overall financial health, although one worried about the specific term loan that the borrower is upsizing.
The Blackstone Group LP expects to step up its returns to investors this year, but the firm faces challenges in doing new deals, executives said Thursday as the New York mega-firm reported earnings that topped Wall Street’s expectations.
Mary Jo White has built an extensive record as a federal prosecutor and criminal defense attorney, but little in her background provides an indication how she will approach questions involving private equity if she becomes the chairwoman of the Securities and Exchange Commission. That said, she did play a prominent role in one portfolio company’s struggles.
Buyout pros believe themselves to be excellent analysts of target company values and keen negotiators of deals, but even they may find themselves subject to blind spots, faulty economic models or other flaws in the valuation of prospects, said Aaron Gilcreast, a principal at the accounting firm PricewaterhouseCoopers LLP. The global accounting giant formally announced […]
Firm: Huron Capital Partners LLC Fund: Huron Fund IV Target: $400 million Amount Raised: $500 million Placement Agent: None Huron Capital Partners LLC said it has closed its fourth buyout fund with $500 million in commitments. Huron said it had strong demand for the vehicle, The Huron Fund IV LP, from current and new investors. […]
Chicago Growth Partners seeks to build an international payments business by enabling micro-merchants to transact online across national borders, Devin Mathews, a managing partner, told Buyouts.
Perhaps Providence Equity Partners Inc. and The Carlyle Group LP did well to get out before things got worse for portfolio company Open Solutions Inc. The buyout firms sold the beleagured bank-tech vendor on Monday to one of the industry’s leaders, Fiserv Inc., in a $1.015 billion deal.
The Carlyle Group LP appears to be accelerating a strategy of using the firm’s own balance sheet to grow through acquisition.With a clutch of deals at the end of 2012, the Washington, D.C., buyout mega-firm has swelled its assets under management to $170 billion, at least on a pro forma basis, to the extent that even experienced market watchers may have to look twice to distinguish Carlyle Group’s strategic acquisitions from targets for its private equity portfolio.
To document accredited investors fundraisers may turn to third parties, says Brandt Leahy, a managing director of the data-analytics specialist Sageworks Inc. But at the rate that the Securities and Exchange Commission is progressing, 2013 may come and go before the agency settles on rules to implement the general solicitation and crowdfunding provisions of the […]