Steve Gelsi
Firm: AEA Investors Fund: AEA Small Business Fund III Target: $350 mln Amount raised: $443.1 mln Law firm: Kirkland & Ellis AEA Investors held a final close for AEA Small Business Fund III with $443 million, 21 percent ahead of its $350 million target, in a rapid fundraise, according to sources. The New York firm […]
Telesoft sells communications expense and mobility software GP focuses on partnership approach with boot-strapped targets Sumeru Equity Partners launched in 2014 Sumeru Equity Partners bought Telesoft, its third investment in a founder-owned, or self-funded company since the firm spun out of Silver Lake in 2014. Terms weren’t disclosed. “We have a very strong partnership approach […]
Debt exchange seen in the next year for Sycamore portfolio company Nine West now headed up by exec from Alvarez & Marsal Adjusted debt-to-EBITDA at about 20x Retailer Nine West Holdings Inc faces an unsustainable capital structure and may pursue a debt exchange in the next year, S&P Global Ratings said in a recent […]
Madison Capital flags softer equity cushions in loans High prices forcing some looser loan covenants Beefing up origination staff as it works to avoid auctions Madison Capital Funding executives said they’ve not seen a big return of covenant-lite loans in the middle-market-lending space. But in a meeting with Buyouts, they said they’ve seen more frequent use of […]
Permira portfolio company reportedly bids for Interactive Intelligence Avaya contact center unit reportedly on the block Industry consolidating to face Cisco threat In a summer marked by slower deal activity, leave it to telecoms to keep M&A players busy. Tech, media and telecom has been the standout sector in a sluggish period. First-half U.S. M&A deal volume […]
Buyout follows Harbortouch Payments and 160over90 Co-founder of Searchlight worked at Apollo Searchlight closed sophomore fund at $1.9 bln in December Searchlight Capital Partners teamed up with Apollo Global Management in the $4.3 billion take-private deal for tech company Rackspace. Searchlight Capital said it would make a strategic investment in Apollo’s all-cash offer of $32 a […]
Liquidity shortage possible in next year: S&P Sale of energy assets to Angola fell through Cobalt among firms in First Reserve Fund XI restructure vehicle Cobalt International Energy could face a material liquidity shortfall within the next 12 months after a $1.75 billion sale of Angola oil and gas assets to state-run Sonangol was terminated, […]
Global Health Investment Fund investing Fund I since 2013 6 portfolio investments under its belt; more ahead Fund typically invests $10 mln per project Global Health Investment Fund plans to return to the fundraising market by 2018 for Fund II, going beyond the six initial investments from its $108 million inaugural pool, an executive at the New […]
Arsenal Capital Partners IV and MSD Capital LP recapitalize WCG Firm initially invested in the company in 2012 WIRB-Copernicus Group has been making acquisitions Arsenal Capital Partners for the first time used a newer buyout fund to back one of its existing portfolio companies in the recapitalization of WIRB-Copernicus Group, a provider of regulatory and ethical review services for clinical […]
Firm: Peninsula Capital Partners LLC Fund: Peninsula Fund VI LP Amount raised: $402 mln Peninsula Capital Partners added about $78 million in commitments in the past year to close out its sixth mezzanine lending fund at the $402 million mark, according to filings and an executive at the firm. Scott Reilly, president of Peninsula Capital, said […]