Steve Gelsi
Hellman & Friedman is seeking a comparable fund size to its flagship vehicle of nearly $9 billion raised in the midst of the financial crisis, in the buyout firm’s first major capital-raising effort since the death of its co-founder Warren Hellman in 2011.
1. As FFL’s specialist in talent management and recruiting, what does the hiring pipeline look like in 2014 for FFL’s 14 portfolio companies? Is it a year of cost cutting or expansion or just trying to muddle through a tough economy? FFL doesn’t really have a pipeline, but things look about the same as last year—not […]
HGGC wrapped up a platform deal for software-as-a-service provider AutoAlert, as well as an add-on acquisition for its Innovative Interfaces library services portfolio company, in a busy deal-making day for the Palo Alto, California-based buyout shop.
Talking Price Point with Steve Gelsi: Thoma Bravo’s aggressive 15.5x multiple for TravelClick may...
With a total deal price of $930 million and a trailing 12-month EBITDA of $60 million, Thoma Bravo is betting that its aggressive 15.5x purchase price multiple for the pending acquisition of Genstar Capital’s TravelClick business will lead to more growth ahead.
Credit Suisse said it completed the spinoff of its DLJ Merchant Banking Partners mid-market leveraged buyout business to form aPriori Capital Partners LP, with plans to raise capital beyond the $2 billion currently under management.
Marlin Equity Partners said it closed its new lower mid-market buyout vehicle, Marlin Heritage LP, with $400 million in commitments after a quick fundraising period of three months. The fund was four times oversubscribed for its $250 million target, the Los Angeles firm said.
Levine Leichtman Capital Partners said it held a final closing for mid-market buyout fund Leichtman Capital Partners Fund V LP at $1.65 billion, handily above the $1.5 billion target for the private equity firm with $7 billion under management from offices in Los Angeles, New York, Dallas, Chicago and London.
The $34 billion Illinois Municipal Retirement Fund voted to divest $550 million from Pyramis Global Advisors’s Pyramis High-Yield Fixed Income Mandate and move its money to four other managers because the unit of Fidelity Investments didn’t meet its brokerage utilization goals for minority, female and persons with a disability-owned business, according to a statement from the public LP.
Trivest Partners, the Florida-based mid-market firm that focuses on deals with company founders and families, earned a 4.3x gross multiple on the sale of industrial distribution firm Hazmasters to Wesco International in a deal that closed on March 17, according to a source familiar with the deal.
Debt investing specialist Bruce Richards of Marathon Asset Management flagged investment opportunities in Europe and the expected restructuring of Texas-based Energy Future Holdings as possible ways to provide superior returns.