Steve Gelsi
Thomas H. Lee Partners has raised about $939 million for its seventh buyout fund in a formal effort that began this fall, as the buyout firm takes aim at a smaller flagship fund than its $8.1 billion predecessor from 2006, according to regulatory filings and a source.
Terry Garnett of Garnett & Helfrich Capital has teamed up with venture investor Rob Theis to launch Garnett Theis Capital with an inaugural fund seeking up to $500 million for technology carve-outs and buyouts, according to a person familiar with the firm.
Brentwood Associates has bought a majority stake in Z Gallerie, a 50-store furniture retailer that got its start as a poster shop, according to a source familiar with the deal.
Water Street Healthcare Partners landed in the top quartile for its vintage 2008 fund, Water Street Healthcare Partners II, with an IRR of 29.5 percent as of Dec. 31, 2013, according to pension fund data compiled by Buyouts. The performance beats the top quartile threshold of 19.4 percent for that vintage year. Tim Dugan, managing partner of Chicago-based Water Street, spoke with Buyouts over the phone.
Buyouts recently caught up with Ross Posner, who joined money manager Ridgewood Private Equity Partners earlier this year to build an energy and related infrastructure investment team. Posner spent the previous eight years at Allstate Investments, where most recently he built and ran the six-person global infrastructure and real asset private equity group. Dow Jones has reported that his new firm plans to raise a debut fund.
U.S. sponsors maintained a robust pace of deal-making but closed fewer acquisitions in the third quarter compared to the year-ago period. A run-up in public stock prices discouraged take-privates in the face of more aggressive strategic buyers, despite favorable credit markets and a recovering economy. Buyout shops successfully turned to carve-outs to source deals and […]
Wealth manager Joel Guth not only helps clients allocate roughly 10 percent of their portfolio into private equity investments, he’s also gained deep knowledge of sponsored deal-making after decades of experience with company owners.
Sageview Capital, founded in 2005 by veterans of Kohlberg Kravis Roberts & Co, plans to raise up to $800 million for its sophomore growth equity fund on the heels of a successful IPO of GoPro Inc, a maker of mobile cameras popular with surfers, skydivers and other social media darlings, according to two sources familiar with the firm.
Sharing wisdom gleaned as a senior executive at HGGC after his years as a Super Bowl-winning quarterback for the San Francisco 49ers, Steve Young told private equity pros to huddle, embrace change and find out how good you could be.
Tech deal-makers said Tuesday they’re as busy as ever despite high purchase prices, with interest in areas like advertising technology, financial technology and software-as-a-service running as high as it did for dot-coms in the late 1990s.