Steve Gelsi
Loans up to $1 bln expected by players Borrowers, lenders eye more unitranche deals Traditional lenders pivot to meet the unitranche challenge This summer’s big $1 billion loan arranged by Ares Capital Corp for Thoma Bravo’s take-private of Qlik Technologies Inc marks the largest of a stream of large unitranche loans in recent months. Players in the […]
Firm: Gemspring Capital Fund: Gemspring Capital Fund I Target: $300 mln Placement Agent: Acalyx Holdings Gemspring Capital plans to raise as much as $300 million for its debut buyout fund about a year after the firm launched under a veteran of H.I.G. Capital, according to a filing. The Westport, Connecticut, firm said it didn’t yet have a […]
VMG Partners III listed as GP for Stone Brewing investment Stone Brewing cited investment group behind True Craft Investments aimed at preserving independent brewers VMG Partners, the San Francisco-based specialist in middle-market consumer deals, quietly backed an effort by the founders of Stone Brewing Co to launch True Craft, a company set up to invest […]
Firm: Angeles Equity Partners Fund: Angeles Equity Partners I Target: $300 mln Amount raised: About $300 mln Placement Agents: Moelis & Co, GCA Savvian Advisors, LLC Angeles Equity Partners is nearing the finish line on its debut buyout pool with $300 million in commitments expected, after a busy year that included fundraising and closing two platform […]
Buyout activity healthy but softening Recapitalizations, refinancing abound Middle-market pricing better than broadly syndicated loans Leveraged loan providers said credit demand remains robust as the third quarter of 2016 drew to a close, with a quick pace of recapitalizations making up for a flat M&A environment. On the plus side, credit strategies remain in favor with […]
Panel expects a recession at some point Important to have lenders in place willing to work through tough times Trump election could negatively hit public markets A panel of private equity executives looking toward 2017 agreed that a U.S. recession lurks at some point in the future and said lining up favorable financing partners will […]
AlpInvest’s Mike Hacker eyes strong LP interest in PE March toward 100 pct fee offsets has slowed Some GPs drop preferred return hurdles A hot private equity fundraising market of about $300 billon expected this year has tilted the power toward high-performing GPs on fund economics, an executive at AlpInvest said. Mike Hacker, managing director […]
Nearly 2,800 private capital funds in the market Preqin survey of 490 LPs reveals challenges from plethora of alternative funds Fund selection process described as increasingly daunting A record 2,798 private-capital funds are in fundraising mode, making it harder to select places to invest, a Preqin survey of more than 490 institutional LPs shows. “It is […]
Recession-resistant targets drawing more interest Landmark Partners, Advent portfolio companies shine in summer IPO crop Private SaaS companies more affordable than their public brethren Along with price and growth prospects, the cyclicality of businesses is factoring heavily into deal-making as private equity firms look toward 2017, an investment banker who works with sponsors said recently. […]
Co-investments roped into fee-and-expense focus by regulators SEC actions not expected to chill co-investment activity Recent moves by SEC on this front aren’t the last: lawyers Private equity firms continue to strengthen disclosure to limited partners about co-investment programs as the SEC maintains its emphasis on transparency, according to a lawyer who works with GPs. While the SEC […]