Steve Bills
With new rules on general solicitation now in effect, buyout shops and their supporters in Washington, D.C., are concerned that a separate set of proposals could dampen their ability to advertise and promote their funds to investors.
Peak Rock Capital LLC, a startup buyout shop based in Austin, Texas, announced Sept. 24 that it has closed its inaugural fund at its hard cap of $700 million. The firm plans to buy companies in the middle market where it can invest debt, equity and hybrid capital to help companies address operational or financial difficulties.
The Riverside Company is joining the ranks of buyout firms that are branching out into credit strategies.
J. Paul Forrester minces no words when it comes to the revised rules for CLO managers.
If venture capital can have serial entrepreneurs, why can’t private equity have serial portfolio company executives? That describes the role of Tim Whall at GTCR LLC.
A pair of buyout shops appears poised to earn roughly 2.5x their money—at least on paper—from a bank they invested in following the financial crisis.
Spell Capital Partners LLC is looking to its new mezzanine fund to swing deals that would otherwise fall outside its investing mandate.
The financial stress has been apparent for two years or more at Energy Future Holdings Corp, and now Moody’s Investors Service Inc has put a timetable on the Texas utility’s likely reorganization. The credit rating agency said last week that at least some units of the company are likely to file for bankruptcy by the end of the year.
American banks, which have been shedding their private equity operations because of the Volcker Rule, may be able to use an exemption in the financial reform law at least to get back into the lower end of the middle market.
Platinum Equity LLC has completed fundraising for its third buyout vehicle. The Beverly Hills, Calif.-based shop announced that it raised $3.75 billion, achieving its target for Platinum Equity Capital Partners III.