Steve Gelsi
Bondholders mull $4 billion senior debt offer Deal may be harbinger for other distress takeovers Apollo offers 5x projected EBITDA for University of Phoenix owner With debt distress mounting in the energy sector, EIG Global Energy Partners embarked on a hostile takeover that may set the pricing tone for energy firms impacted by the sharp drop in […]
Firm: Tuckerman Capital Fund: Tuckerman Capital V Target: $60 mln Amount raised: $25 mln Tuckerman Capital said it raised $25 million toward a target of $60 million for its fifth private equity fund that focuses on niche manufacturing and industrial services companies, according to a filing and a source. Tuckerman Capital V comes roughly four years after the […]
Production Resource Group faces April 15 deadline S&P says company may face default Jordan Company acquired company in 2007 Jordan Company-backed Production Resource Group (PRG) drew a downgrade by Standard & Poor’s shortly after making the latest in a series of acquisitions, as the theatrical technology provider faces an April payment deadline on its debt. […]
First change to rules in decades passed House Some with less wealth may still become accredited investors Measure yet to be introduced in Senate A measure to allow investors to become accredited by virtue of their experience and expertise even if they fall short of net worth requirements drew praise from two private equity industry groups after […]
Bellwether Blackstone says concerns over sell-off are overblown PE allocations could be cut to re-balance falling public equities Correction was expected A sustained market correction could lead to lower private equity allocations as LPs rebalance their portfolios to make up for falling public equities. But it’s still too early to say where the market is heading, according to […]
RedBird, Pine Brook, Riata Capital back heavy-hitting CEOs Private capital lines up behind big-name entrepreneurs Firms focus on established industries in finance, hospitality, consumer sectors Private equity investors are increasingly looking for seasoned, successful executives — so-called “rock stars” — to drive performance at their portfolio companies. RedBird Capital took it to the extreme with one […]
Founded: 2001 Investment strategy: Control middle-market buyouts in North America in four key sectors: TMT, healthcare, leisure and retail, financial and real estate services. Its real estate arm invests in industrial and logics properties, technology-advantaged real estate such as data centers, residential and mixed-used development, and agriculture platforms focused on the wine industry. Key executives: […]
The vintage 2006 Thompson Street Capital Partners II fund from Thompson Street Capital Partners rang up an investment multiple of 2.0x as of May 31, 2015, for the Oklahoma Police Pension & Retirement System. That’s ahead of the top-quartile threshold of 1.7x and the median of 1.4x for that vintage year, according to public pension […]
It is a classic American success story. Lizanne Falsetto had a great idea for a protein bar and whipped it up in her own kitchen. That laid the foundation for her company, thinkThin. Over the next 20-plus years, the onetime fashion model grew her company without a dime of venture capital and without taking out a single loan. When she […]
1. What trends are you noticing among newer GPs? I’d say at least on the emerging manager side, more of what we’re seeing is firms with a specific type of deal angle or an industry. Private equity generally has become more and more specialized. On the operational turnaround and restructuring side — that’s an area where […]