Steve Gelsi
Q4 multiples dip but remain lofty after credit rockiness Deal-maker sees lofty valuation for Group Dekko Vista Equity pays less than rivals, source says Average purchase price multiples dipped during the fourth quarter to about 10x EBITDA, compared to the previous quarter, in the face of rockiness in high-yield credit markets. Multiples remain above year-ago levels […]
Firm: Blackstone Group Fund: Blackstone Tactical Opportunities Fund II Target: $7 billion to $8 billion Amount raised: At least $3.69 bln Placement agents: UBS, Morgan Stanley Smith Barney, Bank Julius Baer & Co Ltd, Park Hill Group Blackstone Group said it raised $3.7 billion for Blackstone Tactical Opportunities Fund II, a pool that’s been investing […]
Marblegate, BlackRock, T. Rowe Price opposed change to law KKR, Apollo portfolio companies would have benefitted Caesars, Education Management debt under scrutiny A battle between financial heavyweights that spilled onto the marbled floor of the U.S. Capitol ended shortly before the New Year with a victory for minority bondholders in some high-profile debt disputes. On […]
Liquid storage specialist carryies $243 mln in debt Houston firm may violate covenants First Atlantic Capital is sponsor Sprint Industrial Holdings, backed by First Atlantic Capital, may breach financial covenants for its $243 million in debt as early as January 1, according to Moody’s Investors Service. The rental provider of liquid and storage tanks faces a slowdown in […]
Falconhead Capital acquires fountain beverage specialist Company was owned by CMS Private Equity PE firm eyes consolidation deals Falconhead Capital plans to complete add-on deals in 2016 for its newly acquired Multi-Flow Industries LLC platform to broaden its reach in the U.S. soft drink business, said Chief Executive Officer David Moross. Falconhead Capital paid CMS Private Equity […]
KKR, Apollo portfolio companies could benefit Marblegate exec flags “backroom lobbying efforts” Caesars, Educations Management debt under scrutiny A battle between private equity investors and minority bondholders has spilled onto the marbled floor of the U.S. Capitol. On one side are sponsors such as Apollo Global Management, Kohlberg Kravis Roberts & Co and TPG Capital. On the […]
Firm: Lion Capital Fund: Lion Capital Fund IV LP Target: $2.5 bln Hard Cap: $3 bin Amount Raised: $1 bln-plus Placement Agent: Mercury Capital Lion Capital, the consumer-focused firm based in London, is holding a close on its fourth buyout fund in December with more than $1 billion, according to a source. Fund IV is […]
North American LPs hold nearly $800 bln in dry powder Worry levels over deal prices comparable to 2007 Middle-market private equity funds remain in favor Limited partners in private equity firms hold a record $800 billion in dry powder in North America, but worries about a downturn in the economy are at comparable levels measured […]
Firm: TC Growth Partners Fund: TC Growth Partners I LP Target: $300 mln Amount raised: $200 mln TC Growth Partners is nearing a $200 million interim close for its inaugural growth equity fund after an amicable spinoff from venture firm Trident Capital, according to a source familiar with the firm. The Palo Alto, Calif-based firm […]
Shamoil Shipchandler based in Fort Worth office Former federal prosecutor heads up examinations District includes Texas, Oklahoma, Arkansas Shamoil Shipchandler, recently named regional director of the Securities and Exchange Commission based in Texas, has an interesting philosophy when it comes to how GPs treat LPs: “We’re not here to protect you from bad decisions, but […]