Steve Gelsi
Scott Ross holds first close for debut fund Worked at Apollo, Goldman Sachs Firm to invest in common stock; private companies Ex-Apollo Global Management partner Scott Ross held a first close on his debut fund, which invests in public equities as well as privately held companies, according to people familiar with the New York firm, Hill Path Capital. […]
Golden Gate exiting Aspect Software in Chapter 11 reorganization Aspect carrying $795 mln in debt Plan to reduce debt by $320 mln, inject $60 mln in equity Golden Gate Capital would lose its equity in Aspect Software if a restructuring plan is approved by creditors and a bankruptcy judge. GSO Capital Partners, Guggenheim Partners and MidOcean Credit would […]
Eyes SEC interest around zombie funds SEC trying to work closely with private equity Regulators down on accelerating monitoring fees Aaron Schlaphoff, who recently joined Kirkland & Ellis as a partner after working at the Securities and Exchange Commission, in an interview with Buyouts flagged compliance issues for GPs around zombie funds, accelerated monitoring fees and other potential sticking […]
Firm: Wise SGR Fund: Wisequity IV Hard Cap: 215 mln euros ($220.3 mln) Amount raised: 215 mln euros ($220.3 mln) Placement Agent: Rede Partners Law firm: Proskauer, international legal counsel Wise SGR drew commitments from limited partners in the U.S. for the first time as the Milan-based buyout firm in less than six months wrapped […]
BDCs on the block, but no deals yet Deals derailed by noise around shareholder activism Energy swoon may impact fund IRR performance When it comes to consolidation among public Business Development Companies, it’s not just about price. One would think at least a couple of closed deals would have been chalked up by now given […]
Drug trial data firm sold for $1.78 bln Deal marks first exit from Genstar VI fund Genstar boosts growth at ERT to 15 pct-plus Genstar Capital will book a roughly 8x return on the sale of ERT to Nordic Capital for a purchase price of nearly $1.8 billion, according to a source familiar with the firm […]
Hi-Crush stock trading around $4 down from $69 in 2014 Moody’s downgrade covers $200 mln of debt Analyst sees deterioration in energy sector credit Hi-Crush Partners, an Avista Capital-backed provider of sand used for fracking, absorbed a debt downgrade from Moody’s amid uncertainty about liquidity levels in the energy sector. The downgrade comes as the company’s customers […]
Firm: Eaton Vance Fund: Eaton Vance Institutional Senior Loan Fund Amount raised: $7.8 bln Eaton Vance increased the dollar contributions to its Eaton Vance Institutional Senior Loan Fund by $2.4 billion in one year, bringing the total to $7.8 billion for the platform for public pension funds, endowments and other big LPs, according to filings. The […]
Middle-market has some exposure to CLOs Analyst cuts view on CLOs, but sees uptick Tight credit foils Z Capital bid for Affinity Gaming A steep drop in collateralized loan obligations (CLOs) in 2016 has contributed to tighter credit for middle-market deals, but conditions improved on some fronts late in the first quarter, according to specialists in the credit […]
Sterling Group Partners III LP, the vintage 2010 buyout fund from Houston-based The Sterling Group, logged a net IRR of 23.5 percent as of December 31, 2014, for Sacramento Private Equity Partners. That’s ahead of the top-quartile threshold of 21.4 percent in an annual analysis of pension fund data by Buyouts. Partner Kent Wallace, who […]