Steve Gelsi

Summit Park is a small fund, but it punches above its weight with co-investments from big LPs such as J.P. Morgan and Private Advisors.

Investors remain bullish on private debt funds, but they may be reluctant to commit to new vehicles until GPs put a dent in a record amount of dry powder.

Blackstone Group said it’s seeing more LP demand than supply as it starts wrapping up its seventh flagship buyout fund at $17.5 billion, part of a bumper crop of investor dollars at the marquee private equity conglomerate.

Aquamarine Investment Partners, a one-year-old firm founded by long-time sponsor lawyer Joel Moser, is about halfway toward a $1 billion goal for its debut fund that’ll focus on real estate, energy and infrastructure investments, according to a source.

Ridgewood Energy said it raised about $2 billion for Ridgewood Energy Oil & Gas Fund III LP, which comes only about two years after the firm targeted less than half that figure for Fund II, according to filings.

Providence Equity Partners’ inaugural growth fund will take aim at technology-enabled services companies disrupting traditional industries, according to an executive heading up the effort.

A New York judge dismissed all claims against one executive and reduced the number of claims against two others in a multimillion-dollar legal dispute stemming from the departure of three private credit pros from Veronis Suhler Stevenson to Riverside Co back in 2013.

Olympus Partners is in line to earn a roughly 3.7x return on invested capital in less than three years in its pending sale of packaging and disposable tableware maker Waddington Group for $1.35 billion to Jarden Group, according to a source. 

New Water Capital, a young turnaround firm led by veterans at Sun Capital, is wrapping up capital-raising in less than six months for its first buyout fund, according to a person familiar with the firm. After initiating the effort in February, the debut fund drew in $406 million in LP commitments, ahead of its $250 million target, according to a source and a filing. 

The story about expensive company targets keeps getting scarier. It’s not just anecdotal. The hard numbers back up the tales from private equity pros about steep prices.