Steve Bills
Many sponsors have done their best to transition toward more institutional structures that can survive the retirement or death of an iconic dealmaker. But the latest generational transitions in the business show just how hard it is for firms to hang together.
Begin before you think you need to, spread the wealth with the junior members of your team, and have a plan for the rest of your life. That is some of the main advice limited partners and service providers offer to general partners on planning for succession. Planning is a long-range process in the private […]
The Swiss investment firm Partners Group AG seeks to seize on an economic recovery in northern Europe by sharply expanding its leveraged lending strategy, Scott Essex, managing director for the firm’s private debt team in New York, told Buyouts.
The store chain Roundy’s Supermarkets Inc was expected to be one of the last best chances for the Chicago buyout shop Willis Stein & Partners to wring out an additional return on its long-gestating third fund, but those chances were dimmed when Moody’s Investors Service lowered the outlook on the company’s debt.
The JOBS Act gives buyout shops unprecedented ability to market their funds to investors broadly but limits the actual sale of partnership interests to investors who are accredited — the same standard that always has applied. But for fund sponsors seeking to reach the vast retail market, suggests Lennine Occhino, a partner at the law firm Mayer Brown, maybe the most direct route would be to market themselves to defined contribution retirement plans, such as target-date funds.
You were recently named chairman of the board at Real Mex Restaurants after you bought out a minority investor. Congratulations. RealMex had been in the Sun Capital portfolio before it went into Chapter 11, where you acquired it. Does it give you special concern to step into a situation where a peer has struggled? It […]
The anticipated “deluge” of deals that has been expected for the second half of 2013 is unlikely to develop, according to boutique investment bank SPP Capital Partners LLC, which predicts the pickup in dealflow now is unlikely to begin before the spring of 2014.
TPG Capital LP has always followed its own path. Will the so-far lackluster performance of a mammoth $19.6 billion, 2008-vintage fund force it to change directions—and even go public one day?
Angelo Gordon & Co announced in October that it has hired an energy team to be based in Houston, led by Todd Dittmann. The team will focus on a credit-oriented approach to investing in the energy sector, especially at the small end of the market. 1. Between the advent of new technologies and America becoming […]
Cloud computing may offer sponsors an economical way to monitor and manage their portfolio companies more effectively by providing powerful business management software as a hosted service, said Blaine Clark III of the tech consultant itelligence Inc.