Firm: Solace Capital Fund: Solace Capital Special Situations Fund, L.P Target: $500 mln Amount Raised: $388.9 mln Placement Agent: Eaton Partners Solace Capital Partners has raised $389 million in commitments and deployed about $100 million for its inaugural fund, according to sources. The Los Angeles firm led by Oaktree Capital Management veterans recently held a […]
Teal Natural Resources launches with $125 mln New firm Pearl Energy is a backer of Teal NGP funded Teal Natural from Fund XI Teal Natural Resources sees plenty of opportunities to snap up high-quality assets in the Eagle Ford shale of Texas and other areas with equity checks in the $5 million to $50 million […]
Platinum preps Fund IV with $4.5 bln target Fund has no cap yet Fund to launch this month Platinum Equity is set to launch its fourth fund targeting $4.5 billion, according to a person with knowledge of the firm. Fund IV does not yet have a cap, the person said. Fund IV could officially launch […]
Brynwood Partners is selling High Ridge Brands Company pitched as an opportunity for roll-ups Brands include Zest and Alberto VO5 Clayton, Dubilier & Rice has agreed to pay about $400 million to buy High Ridge Brands from Brynwood Partners as the New York firm looks to grow the owner of national shampoo and soap brands, according to […]
Some emerging markets LPs ask for tough key-man provision Provision would classify unresolved key-man issue as “for cause” event Could lead to loss of carried interest for GP Some emerging markets limited partners are asking for a “draconian” provision meant to punish managers who don’t resolve key-man issues, according to panelists at a recent conference […]
Commitments include large re-ups with Advent, Ares $290 bln pension commits $50 mln to Cerberus co-investment California Public Employees’ Retirement System committed almost $1 billion to private equity in March, including $500 million allocated to Advent International’s new flagship fund. In addition to Advent, Calpers committed $425 million to Ares Management’s new PE vehicle and […]
Firm manages 11 portfolio investments GP sees opportunity in health care data streams Firm has invested its own capital in deals Skyway Capital Partners, a lower-middle-market buyout firm with 11 portfolio investments, ranks healthcare as a key focus of its hunt for companies posting Ebitda of $1 million to $7 million. Bryan Crino, president of […]
First Reserve close to settlement with SEC Issues include expenses at portfolio company Senior-adviser fees should have been offset against management fee First Reserve agreed to reimburse its investors $12.7 million and pay a $5 million fine to settle a Securities and Exchange Commission investigation into various fee and expense practices, according to an LP with […]
Buyout loans more easily available after Q1 shutdown: Apollo’s Harris High-yield market more robust LBOs above $5 bln to be rare due to bridge-loan challenges Loan markets for buyouts have generally snapped back in the past couple of months, but LBOs of more than $5 billion will be rare because of challenges in the bridge-loan market, […]
CalPERS sent out ILPA reporting template in January Seeks portfolio company-level fee info GPs adjust to the template California Public Employees’ Retirement System has been asking its private equity managers for detailed portfolio-company-level fee information, according to three people with knowledge of the system. The system, like other large public pensions, in January started sending its […]