Steve Gelsi
LP backs up to six new GPs a year LP manages $19 bln from endowments, foundations Makena typically allocates $50 mln-$75 mln for PE funds As a key executive at an institutional LP with a large allocation to private equity, Makena Capital’s Brian Rodde prides himself on spotting young PE funds in the middle market and becoming an anchor […]
LP backs up to six new GPs a year LP manages $19 bln from endowments, foundations Makena typically allocates $50 mln-$75 mln for PE funds As a key executive at an institutional LP with a large allocation to private equity, Makena Capital’s Brian Rodde prides himself on spotting young PE funds in the middle market and […]
Firm may hold second close by end of 2016 Credit-focused GP held first close for Fund VIII at $763 mln CNO Financial bought GP stake in Tennenbaum in April Tennenbaum Capital Partners has drawn about $1 billion in LP demand for TCP Direct Lending Fund VIII, with plans to wrap up the credit pool next year, […]
Hamilton Lane takes minority stake in GP-LP data provider Bison, Hamilton Lane launch Cobalt Hamilton Lane CIO Erik Hirsch sees role for more tech Hamilton Lane marked its fourth investment from its own balance sheet by paying an undisclosed sum to become the largest private shareholder in financial-technology company Bison. The Bala Cynwyd, Pennsylvania, money-management […]
BDC headed up by Michael Ewald, Bain’s private credit chief Same team manages about $5 bln in middle-market credit With leverage, BDC holds about $1 bln in dry powder Bain Capital’s first business development company recently called capital for as much as $218 million for debt investments in the middle market as the privately held lending unit […]
Firm sells Aerosim, PADI from Fund IV Betsy Maloney joined firm in 2015 Lincolnshire wrapped up last fundraising effort in 2008 Lincolnshire Management has replaced its director of marketing while remaining active on the deal front as the New York firm wrapped up the second exit from its fourth buyout fund. It may start raising Fund V as early […]
GI Partners Fund III, the $1.9 billion buyout fund from GI Partners, rang up an IRR of 15.6 percent, compared to a top quartile threshold of 18.2 percent and a median of 11.5 percent for the 2008 vintage, according to a Sept, 2015 analysis of public pension fund data by Buyouts. Breaking out the fund’s […]
Berkshire invested in restaurant chain in 2014 S&P cuts rating after company issues $96 mln in fresh debt Adjusted debt-to-EBITDA multiple up to 10.2x A move by Berkshire Partners to add more debt to its Portillo’s restaurant chain to fund a $116 million dividend payment raised some warning flags from research firm S&P Global Ratings. Portillo’s, which […]
1. You just helped wrap up fundraising for Riverside Micro-Cap Fund IV with $650 million in commitments, ahead of the $500 million target. Any new team members for this fund? A: Today we have 40 team members on the microcap fund, split roughly down the middle between transactors and operators. On the transacting side, we’re […]
Highview Capital manages $500 mln fund Firm backed by Karlin Asset Management Co-founder of Highview worked at Aurora, Alvarez & Marsal Highview Capital, which manages a $500 million evergreen fund backed by Karlin Asset Management, hired six executives and plans to add talent as it embarks on middle-market buyout and distress deals. The Los Angeles […]