Steve Gelsi
Mill Road Capital, the vintage 2006 debut fund from the Greenwich, Connecticut, private equity firm, logged an IRR of 15.7 percent as of March 31, 2015, for Indiana Public Retirement System, according to data from the LP. The performance is ahead of the top quartile threshold of 14.4 percent for that year, according to an […]
Lawsuit brought by families of victims in 2012 Sandy Hook shooting Bushmaster assault rifle cited in complaint Cerberus issues no public comment A Connecticut judge refused to throw out a lawsuit against Cerberus Capital Management portfolio company Remington brought by family members of the 26 victims of the 2012 Sandy Hook elementary-school shootings. Judge Barbara […]
Middle-market shop eyes health and wellness roll-ups Alejandro Weinstein, Jose Minski co-founded firm Wellnext LLC platform company anchors fundraising effort WM Partners, hitting the fundraising market for its 2016 launch by two entrepreneurial executives in the health and wellness space, is targeting $300 million for its debut fund. The fund will focus on add-on deals for its nutritional-supplement […]
Fund V said to be oversubscribed Target is $800 mln, could raise $1 bln: sources Firm raised $600 mln for prior fund Limited partners are finding it difficult to win a spot in the fifth buyout fund from Industrial Growth Partners, the San Francisco shop with at least two top-quartile funds under its belt, according […]
PE lawyer outside case expects appeal Firm was owned by two separate Sun Capital funds Legal battle stems from 2008 bankruptcy Sun Capital was set back in a legal fight over whether it’s liable for $4.5 million in pension costs related to the bankruptcy of Scott Brass Inc, even though its former portfolio company was owned […]
Execs see strong interest from high-net-worth investors Registered investment funds, feeder funds remain active Defined-contribution plans mostly untapped by PE Private equity asset managers see a large potential asset base as trillions in retirement dollars shift to 401(k) and other defined-contribution plans and away from traditional defined-benefits plans. But for now, GPs and asset managers […]
Low volume in Q1 followed turmoil in 2015 Preferred-equity slices coming from family offices Lenders wary of marginal deals Private-debt executives say the leveraged-loan market is returning to normal after the difficult conditions of late 2015 into early 2016, but lower growth expectations for portfolio companies continue to temper deal flow. The availability of credit for […]
Five deals of $5 bln or more close in Q1 Highest dollar volume since Q3, 2008 Sponsors close fewer deals overall Megadeals in the relatively strong sectors of consumer products, technology and real estate stood out in the first quarter for sponsored M&A, with five transactions breaking the $5 billion mark. But in the face […]
Monroe Capital’s Aaron Peck loves looking at different companies to understand how they tick. As co-head of the firm’s new specialty-finance lending unit, he’ll get more opportunities than ever to do just that. “I get excited about understanding a business plan and a strategy and looking at unique types of companies,” Peck said in a […]
Restaurant chain backed by Kelso & Co delays financial disclosure S&P cites declining foot traffic, eyes possible default Company’s revenue falls, loss widens Logan’s Roadhouse Inc may default on payments for its $366 million debt as the restaurant chain backed by Kelso & Co faces a drop in foot traffic, lower revenue and wider losses, according […]