Steve Gelsi
The vintage 2006 Francisco Partners II buyout fund generated an IRR of 12.2 percent as of Dec. 31, 2012, according to performance data from California Public Employees’ Retirement System. The performance beats the 11.7 percent threshold for top-quartile funds and the median IRR of 7.5 percent for the vintage year, according to LP data compiled by Buyouts.
Capital Partners Inc, the Greenwich, Conn, firm launched in 1982, surpassed its fundraising target by $110 million with Capital Partners Private Equity Income Fund II LP, which drew $360 million in commitments for cash-yielding targets in the middle-market arena.
Providence Equity Partners booked a gross return multiple of 4.5x on its exit of the Yankees Entertainment and Sports Network in a deal with Rupert Murdoch’s 21st Century Fox for the cable TV sports property, according to a person familiar with the private equity firm.
The top-ranked Massachusetts Pension Reserves Investment Management’s private equity portfolio gained 21.1 percent in 2013, out pacing gains from the two previous years and boosting the overall performance of the pension fund, according to fresh data from the public retirement system.
Fraud charges by the U.S. Department of Justice against the company that conducted a background check on former National Security Administration contractor Edward Snowden mark a setback for Altegrity Inc, a portfolio company of Providence Equity Partners facing a fresh debt downgrade.
Endeavour Capital’s affiliate Endeavour SEAM has been fundraising for Endeavour Structured Equity and Mezzanine Fund II LP with newly-launched boutique investment bank Hycroft in the role of placement agent, according to three sources familiar with the firm.
Public and private pension funds boosted their allocations to private equity by hundreds of billions of dollars between 2005 and 2012, but remain well behind the deployment levels of family offices/endowments and sovereign wealth funds, according to a first-time joint study of 1,208 U.S. and UK pension funds by the London Business School’s Coller Institute and Adveq.
Onex Corp.’s flagship buyout vehicle Onex Partners IV LP is expected to reach a rapid close at or near its $4.5 billion target by the middle of 2014, an LP familiar with the firm told Buyouts.
Goldman Sachs is expecting to steer clients toward so-called “3 percent funds” as it takes aim at its large private equity business, with about $15 billion in assets on its balance sheet that come under Volcker Rule requirements.
Raine Group, the New York-based firm launched by veterans of Goldman Sachs and UBS that advised on the high-profile deal to buy talent agency IMG, has raised $367 million for Raine Partners II LP, just about two years after closing its inaugural vehicle.