Steve Gelsi
Ares cites senior direct lending program with Aragon Capital Firm to emerge as $13 bln leader in BDC space American Capital sells off riskier assets Ares Capital Corp expects higher fee income, lower costs and a larger and faster deployment of its senior direct lending program with Varagon Capital as part of its pending $3.4 billion purchase of […]
Mitch Petrick moving to advisory role after six years at the firm Glenn Youngkin to supervise the Energy and Natural Resources group Kenneth Hersh will become deputy CIO Carlyle Group shuffled top management at both its $34-billion-asset Global Market Strategies hedge fund and leveraged finance unit as well as its Energy and Natural Resources group, the firm […]
Execs Chris Manning, Glenn Jacobson to oversee Lone Star state Trilantic eyes distress in oil patch Three full-timers staff Austin office Trilantic North America plans to beef up its new Austin, Texas, office on the heels of a fresh acquisition in the Lone Star State, as the firm deploys capital from its dedicated energy fund […]
Five PE backed companies file for Chapter 11 Fitch sees higher default rate for U.S. high yield debt Ample dry powder for debt investments U.S. sponsors are contributing to greater debt distress, with downgrades and defaults reach levels not seen for years. On the other hand, GPs and LPs have stockpiled cash for opportunistic credit investments. This […]
Firm: Solace Capital Fund: Solace Capital Special Situations Fund, L.P Target: $500 mln Amount Raised: $388.9 mln Placement Agent: Eaton Partners Solace Capital Partners has raised $389 million in commitments and deployed about $100 million for its inaugural fund, according to sources. The Los Angeles firm led by Oaktree Capital Management veterans recently held a […]
Teal Natural Resources launches with $125 mln New firm Pearl Energy is a backer of Teal NGP funded Teal Natural from Fund XI Teal Natural Resources sees plenty of opportunities to snap up high-quality assets in the Eagle Ford shale of Texas and other areas with equity checks in the $5 million to $50 million […]
Platinum Equity owns controlling stake Steel distribution company’s debt multiple dips Ryerson sells debt to qualified institutional buyers Ryerson Holding Corp drew an upgrade from Standard & Poor’s Rating Service after the publicly traded aluminum and steel distributor, which is backed by Platinum Equity LLC, set plans to float $650 million in senior debt. Ryerson improved its credit metrics by […]
Bill Berry headed up American Tire Distributors Exec prefers smaller GP over a larger firm Plans to focus on specialty distribution Before Bill Berry retired in December as CEO of American Tire Distributors Inc, a joint holding of TPG and Ares Management LP, he’d built up decades of experience with private equity firms. So after he was approached by a […]
Brynwood Partners is selling High Ridge Brands Company pitched as an opportunity for roll-ups Brands include Zest and Alberto VO5 Clayton, Dubilier & Rice has agreed to pay about $400 million to buy High Ridge Brands from Brynwood Partners as the New York firm looks to grow the owner of national shampoo and soap brands, according to […]
The vintage 2006 Brentwood Associates Private Equity IV fund delivered an IRR of 15.6 percent as of March 31, 2015, for Indiana Public Retirement System, according to data from the pension fund. That’s ahead of the 14.4 percent top-quartile threshold for that vintage year, according to an annual analysis of public pension fund data by […]