Steve Bills
Your focus areas include information and business services and healthcare. What areas do you find most attractive these days? We focus on two segments that together represent about 40 percent of the U.S. economy. We think that 40 percent represents some of the most attractive areas for private equity investment. In those two industries, we […]
With buyout shops facing increasing compliance burdens and investors seeking more and clearer information about their funds, big custody banks such as State Street Corp see new opportunities in alternatives, says Bhagesh Malde, a senior managing director for the Boston-based institution. “Our primary focus on this sector is as a fund administrator,” said Malde, who […]
Even though much of the federal government was shut down due to partisan divides in Congress, two dozen executives of business development companies sent the Securities and Exchange Commission a letter Tuesday urging the agency to “modernize” the regulation of the industry.
The shutdown of the federal government has already begun affecting the private equity industry, as some deals were temporarily disrupted because of confusion about financing that involved the U.S. Small Business Administration.
Melody Capital Partners, a startup player in the credit space, has landed $300 million in commitments toward its planned $500 million inaugural loan fund, a person with knowledge of the fundraising told Buyouts.
You recently changed the firm’s name, from TPG Credit Management LP to Castlelake LP. What is the significance of the change? We would be classified in the distressed category, which I have been doing since the RTC days in 1992. In 2005, I started the firm that today we call Castlelake in conjunction with TPG […]
With deal flow slow in a sluggish economy, buyout shops for a second year are selling more portfolio companies than they are buying in the financial sector, investment bank Freeman & Co LLC reported.
By partnering again with fintech veteran Douglas Bergeron, GTCR LLC is looking for areas of financial technology where it can develop a global leader, said Collin Roche, a managing director at the Chicago buyout shop.
PIKs are making a comeback, as more companies issue bonds with payment-in-kind features, Moody’s Investors Service Inc reported, but the credit rating agency foresees a more benevolent outcome now than in the years leading up to the Great Recession.
Business development companies continue to take advantage of a strong stock market and low interest rates to raise additional equity and debt capital to finance sponsor-backed deals.