Steve Gelsi
Firm: GoldPoint Partners Fund: GoldPoint Mezzanine Partners IV LP Amount Raised: $699 mln GoldPoint Partners disclosed $699 million in commitments for Goldpoint Mezzanine Partners IV, after the firm hired two key executives and wrapped up a co-investment fund last year. The effort by GoldPoint comes during a thin year for mezzanine fundraising. All told, $215 million […]
Florida firm sells oil-change retailer for undisclosed sum Trivest bought company from founder in 2011 Take 5 Oil Change bought by Driven Brands Trivest Partners made a 10x cash-on-cash return with its sale of Take 5 Oil Change Inc to a Roark Capital portfolio company as one of the best-performers in the 35-year history of […]
Firm: KRG Capital Fund: KRG Capital Fund V LP Target: $500 mln Amount raised: $148.4 mln Placement Agent: Credit Suisse KRG Capital said it raised $148.4 million, 30% of its target of $500 million, for its fifth buyout fund, which came as it raised additional capital from LPs last year for its 2007 predecessor fund. […]
Three deals with combined $9.5 bln value Apollo has averaged 6x EBITDA for buyouts in Fund VIII Beaten-up stocks provide an entry point Apollo Global Management kicked off 2016 by paying subdued purchase-price multiples well within the single digits for three take-privates, despite frothier prices in the broader buyout industry. Apollo founder Leon Black has already […]
Firm closes Fund VIII with $13 billion in commitments Advent investment staff increased to 130 from 100 Slowdown in auction opportunities seen Advent International is relying more on its network to generate deal leads rather than chasing competitive auctions run by investment banks, according to a key executive at the firm’s new $13 billion flagship fund, Advent […]
Firm: Blackstone Group Fund: Blackstone Real Estate Debt Strategies III LP Target: $4 bln-plus Amount raised: $2.1 bln Blackstone Group’s third real estate debt strategies fund disclosed more than $2 billion in commitments from 40 LPs for investments in mezzanine and structured loans, with Pennsylvania Public School Employees’ Retirement System as an early backer. PSERS […]
SNAPSHOT Company: FullBeauty Brands Lenders: Goldman Sachs, lead arranger of debt financing for acquisition and three dividend recaps Legal advisor: Goodwin Procter Financial adviser: J.P. Morgan Chase and Jefferies ran dual-track sale and IPO process Accountant: PWC WHY THEY WON Deal generated 10.2x gross return in less than three years Gross IRR of 255 percent Bought […]
SandRidge makes $21.7 mln interest payment Riverstone has ties to SandRidge Foresight was taken public by Riverstone in 2014 Two energy firms with current and former ties to Riverstone Holdings LLC drew one negative and one positive rating change from Standard & Poor’s Rating Services as debt issues loom in the space. SandRidge Energy Inc […]
1. Can you give an update on your firm’s history and what sets it apart? Constitution Capital Partners spun out of Standard Life Investments in 2007 and in 2008 we launched the firm and landed our first account with Universities Superannuation Scheme (USS) for $750 million. We closed on our first commingled product, Ironsides Partnership […]
Firm: Fort Washington Capital Partners Fund: Fort Washington Private Equity Investors IX LP Target: $300 mln Fort Washington Capital Partners Group, the private-equity unit of Western & Southern Financial Group, set a fundraising goal of $300 million for its ninth fund-of-funds, in line with its predecessor, according to filings. The firm said it prefers niche […]