Steve Gelsi
Buyout shops are mixed on whether they will launch advertising campaigns to reach prospective accredited investors now that the Securities and Exchange Commission has voted to lift a decades-old ban against general solicitation in private market fundraising.
With the U.S. housing market providing a bright point in the sluggish economic recovery, 2013 is shaping up to be a big year for real estate deals. And a healthy appetite for the sector by investors suggests the trend will continue.
BlackRock Inc, the world’s largest money manager, has disclosed $50 million raised from a single investor for a new vehicle, BlackRock Private Equity Partners VI US LP, following its exit from a direct private equity strategy and its earlier acquisition of Swiss Re’s fund-of-funds unit.
Kohlberg Kravis Roberts & Co said the $6 billion fundraise for KKR Asian Fund II LP drove a $4.2 billion increase to assets under management as it continues to soak up fresh capital for global dealmaking, but the marquee private equity firm said valuations of target firms continue to move up.
Goldman Sachs Asset Management, the money management unit of Goldman Sachs, and Post Oak Energy Capital committed $100 million in a direct investment in PetroEdge Energy III LLC, a new energy firm aimed at relatively untapped areas of the oil-rich Eagle Ford region of Texas.
New York City Public Pension Funds marked its largest commitments yet to private equity via marquee funds from Apollo Global Management and CVC Capital Partners. It was part of an overall $1.3 billion series of pledges by the $137 billion retirement system that also included first-time commitments to several emerging managers.
Community bank investor Carpenter & Co has been discussing the possible launch of Carpenter Community BancFund II LP with a proposed target of $425 million during portfolio updates with limited partners who have inquired about a new vehicle, according to a person familiar with the firm.
Blackstone Group LP executives said rising U.S. interest rates don’t worry them because the economy continues to expand and signaled plans to hold onto Hilton Hotels after the buyout firm turned in a strong financial performance in the first half.
The Maryland State Retirement and Pension System’s better-than-expected 11.7 percent return on its private equity investments helped propel the $40 billion pension fund past its overall benchmark in its latest fiscal year.
David Castillo, 45, co-director of global equity for the California State Teachers’ Retirement System, died on July 7 from injuries sustained in a bicycle accident, according to the $166 billion public pension fund.