Blackstone brought in co-investors to help fund the deal Sale included a ‘deferred payment’ Largest trade of real estate secondaries Some secondary market participants questioned the fairness of CalPERS’ recent sale of a $3 billion real estate portfolio to Blackstone Group’s Strategic Partners division because the deal was brokered by Blackstone’s former placement agency. CalPERS told […]
Firm buys Mikawaya, Covercraft, Better Life Technology Guy Zaczepinski promoted to managing partner Some LPs exited Fund II last year in secondary deal Century Park Capital Partners is talking to LPs about launching its third middle-market buyout fund on the heels of four quick acquisitions and last year’s recapitalization of Fund II, according to a market […]
Permira eyes 6 bln – 7 bln euros for Fund VI Expects to launch fundraising in first quarter Fund V over 60 pct deployed Permira plans to bring its sixth flagship fund to market in the first quarter targeting up to 6 billion euros ($6.4 billion) with a 7 billion euros hard cap, according to […]
Firm: Audax Group Fund: Audax Private Equity Fund V Target: $1.75 bln Amount raised: $2.25 bln Audax Group wrapped up fundraising for its fifth private equity fund with $2.25 billion in commitments, above its target, as the Boston-based buyout shop founded in 1999 continued a brisk pace of deal-making. Fund V drew in $1 billion more […]
Los Angeles County commits to Harvest for first time $48.4 bln pension prioritizes small, mid-sized managers Also backs Central Europe specialist Gilde The Los Angeles County Employees Retirement Association greenlit two commitments to private equity at its November 12 meeting, Principal Investment Officer Christopher Wagner said in an email. The $48.4 billion pension committed up […]
Fittingly, the majority of University of Texas Investment Management Company‘s best-performing funds are managed by firms based in Texas. The top four performing funds by cash-on-cash return multiple (distributions divided by contributed capital) are all based in the Lone Star State. Dallas-based Wingate Partners‘ maiden and third funds led the way. The 1987-vintage Wingate Partners LP generated a cash-on-cash return multiple […]
Jason Wood focuses on co-investments Worked at Zurich Alternative Asset Management for three years Not clear if Zurich is directly replacing Wood Jason Wood, a director at Zurich Alternative Asset Management, left recently and joined AIG Investments, according to a source and Wood’s LinkedIn profile. Lauren Kochendarfer, a spokeswoman with AIG, confirmed that Wood joined AIG […]
New Flyer Industries to pay $480 mln for MCI KPS purchased bus maker in 2010 Company was losing money at the time KPS Capital Partners is set to earn a 3x return on its pending $480 million sale of Motor Coach Industries (MCI) to New Flyer Industries Inc, according to a source. During its roughly five-year ownership […]
Firm closed previous fund in 2011 In talks with LPs about a $5.5 bln target Not clear when fund will officially launch Berkshire Partners is talking to limited partners about its next flagship fund with a target of $5.5 billion, according to two LPs who have heard the pitch. It’s not clear if Fund IX is officially […]
Despite a weak fundraising market in the third quarter, a murderers’ row of some of the industry’s most sought after general partners is expected to return to market at some point in the next year, according to data from Buyouts and Bison. LPs expect technology specialist Silver Lake to return to market with the fifth iteration […]