Deals will get done at more reasonable prices GPs expected to invest more cash than they return in 2016 Business cycle suggests a looming downturn Carlyle Group founder and co-CEO David Rubenstein said he expects an economic slowdown in 2016 after several years of expansion, but that lackluster growth could help private equity firms boost returns because […]
Company specializes in sensor arrays for truck fleets Phil Canfield eyes potential 3x subscription growth CEO Brandon Nixon remains at the company GTCR’s Phil Canfield said the Chicago firm expects rapid growth to continue at Lytx Inc after announcing its platform acquisition of the trucking technology company for at least $500 million in cash. The […]
Gamut held a first close on $485 mln Fund I launched in late August Firm recently hired MD from Harvest Partners Gamut Capital Management held a first close on $485 million for its debut fund, according to a person with knowledge of the firm. That means Gamut Capital Management I is more than 60 percent […]
Does the stock market know something the rest of us don’t? The S&P 500’s more than 9 percent drop from New Year’s through February 10 suggests that the United States’s seven-year trot of economic growth, however plodding, may be heading for a concrete wall. And fears of an imminent recession have real consequences. Financial buyers, for one, won’t […]
Apollo Credit Opportunity Fund III generates a -18 pct return Firm lowers return target to 6 to 8 pct net Collapse in oil prices dragged down performance Apollo Global Management’s latest credit opportunities fund appears to have gone big into energy ahead of a precipitous drop in oil prices last year. Apollo was investing in […]
Ares, Warburg among mega funds backed by Wisconsin Pension previously bullish on small, mid-market buyouts Also co-invests $10 mln in IT deal In a reversal of course, the State of Wisconsin Investment Board (SWIB) committed more than $380 million to mega funds in the fourth quarter. The $99.1 billion retirement system has been bullish on […]
Carlyle Global Partners will hold companies for longer periods Firm also plans to buy back $200 mln worth of shares Q4 ENI drops to $72.7 million from $180.5 million in Q4 2014 Carlyle Group’s new Carlyle Global Partners fund raised $3 billion for its strategy of longer holding periods for portfolio companies. That was one of many pieces […]
CalPER commits more than $275 mln to Carlyle Includes $76 mln stake in Veritas deal Pension also backs TowerBrook for $250 mln The California Public Employees’ Retirement System furthered its relationship with The Carlyle Group at year end, allocating more than $275 million to the firm in November and December, according to pension documents. In December, […]
Pension is over-allocated to private equity Pre-crisis funds make up more than half of its exposure Staff calls GP restructurings “time consuming and potentially value destroying” The Oregon Investment Council may unload some of its pre-2009 private equity funds on the secondary market, according to a private equity investment plan included in the council’s February […]
RedBird, Pine Brook, Riata Capital back heavy-hitting CEOs Private capital lines up behind big-name entrepreneurs Firms focus on established industries in finance, hospitality, consumer sectors Private equity investors are increasingly looking for seasoned, successful executives — so-called “rock stars” — to drive performance at their portfolio companies. RedBird Capital took it to the extreme with one […]