Steve Gelsi
Dental chain backed by Welsh, Carson, Anderson & Stowe Moody’s: Outlook stable based on ’solid’ sponsor support Company’s debt-to-Ebitda multiple above 10x Although Welsh, Carson, Anderson & Stowe recently infused $30 million of equity into its platform company Smile Brands Group Inc, the operator of 330 dental offices in 17 states may not meet its loan […]
Ranks as largest-ever infrastructure fund Surpasses $8.3 bln predecessor Firm has at least one top quartile fund Global Infrastructure Partners quietly broke its own record for the largest infrastructure fund ever raised with $10.8 billion in commitments for its third pool, according to filings. The New York and London-based private equity firm headed up by […]
Firm purchased cloud-based service company in 2006 One Equity made $35 mln initial investment OpenText paying $100 million for Michigan company One Equity Partners will earn a 3x return on the sale of ANXeBusiness Corp to publicly traded OpenText for $100 million, after a 10-year hold period and several add-on deals, according to a source. […]
Firm: Francisco Partners Fund: Agility Fund Target: $500 mln Francisco Partners Management LP recently told its limited partners it’s launching a new fund, called Agility, with a $500 million target aimed at smaller tech deals, according to sources. The size range of deals on which the Agility fund will focus is unclear. A spokesman for […]
Vista Equity pays 44x projected EBITDA for Cvent Firm plans to grow margins at event management software company Cerberus selling nearly $9 bln in residential mortgage-backed securities The $1.65 billion buyout of Cvent Inc by Vista Equity Partners seems pretty pricey at first blush. The buyout firm said April 18 it would pay $36 a share […]
Regulator takes aim at end-of-fund-life issues, cybersecurity Apollo sets aside $45 mln related to accelerated monitoring fees Executives complain privately but work with regulators The U.S. Securities and Exchange Commission has reached at least $90 million in settlements with GPs since it started scrutinizing the industry in 2012. That amount is small compared to the trillions in […]
1 — Tell us about the origins of Frontier Capital and your decision to focus on technology firms outside the major tech centers. When we launched Frontier in 1999, it was right in the middle of the dot-com craze. As a small, first-time fund ($45 million) we saw an opportunity in between venture and more mature […]
As a specialist in governance, risk, compliance and restructurings, Ankura Consulting Group often works with private equity firms. The firm has plenty to offer private equity, especially in certain challenged sectors, according to Kevin Lavin, co-president. “There’s restructuring work that has to be done in sectors such as natural gas, retail, shipping, mining, and parts of […]
Deal values hotel room wholesaler at $1.3 bln Cinven teams up with CPPIB for first time on acquisition Company carved out from Tui Group Cinven sees strong roll-up potential in the fragmented business of providing wholesale hotel rooms to tour operators with its pending acquisition of Hotelbeds Group, which values the company at $1.3 billion, […]
Firm in the market with Oaktree Opportunities Fund X, Xb Oaktree Real Estate Opportunities Fund VII tops $2 bln Expects first closes on three other closed-end funds Oaktree Capital Group said its 10th flagship fund neared the $11 billion mark in the first quarter as volatile financial and credit markets failed to derail capital-raising for the […]