Steve Gelsi
Goodwin Procter’s private equity group recently promoted two associates to partner and has hired ten middle- and junior-level people this year in a move to boost its New York presence to match increased middle-market activity both in LBOs and growth equity.
Hellman & Friedman said it has raised just about $10 billion for its eighth flagship buyout fund as the San Francisco generalist firm turns away some investor dollars as it nears its hard cap, according to an investor in the fund.
Two co-founders of Madison Capital who left the firm under a cloud have joined Angelo Gordon & Co to launch a new middle-market direct lending business aimed at companies generating EBITDA of $3 million and $50 million. It is the latest expansion move by the New York firm.
Silver Lake may be known more for its technology buyouts, but one of the San Francisco firm’s biggest recent falls into a different category altogether.Teaming up with its platform company William Morris Endeavor, Silver Lake bought sports marketing and talent management firm IMG Worldwide for $2.3 billion late last year. Jim Davidson, Silver Lake managing partner, recently hailed the acquisition as a way to harness IMG’s stable of authors, athletes and other stars that generate popular entertainment and content.
John A. Haggerty, managing principal and director of private markets investments for Meketa Investment Group, marked the 36th anniversary of the firm this year with two office openings and future hiring plans in Portland, Oregon, and London in a move to grow into new geographies.
Asia Alternatives has raised $148 million from 16 investors for its fourth fund of funds, according to a filing, as the private equity specialist based in San Francisco and China follows up its predecessor fund that closed about two years ago.
The Blackstone Group may encounter little difficulty in hitting its $16 billion target for Blackstone Capital Partners VII LP as the new flagship buyout pool hits the fundraising trail, based on strong demand from LPs for key megafunds, two private equity pros told Buyouts.
American Capital Ltd, the publicly traded global asset manager and private equity firm, said it drew LP support from Coller Capital, Goldman Sachs Asset Management and StepStone Group for its newly closed $1.1 billion American Capital Equity III LP aimed at lower mid-market investments.
Five Questions with Brooke Coburn, Managing Director, The Carlyle Group
Two senior members of Silver Lake Sumeru are forming separate firms with backing from at least one key executive at Silver Lake, a leader of the firm said.