GTCR’s Craig Bondy sees low interest rates persisting GPs may try to keep winners PE track record lures new LPs GTCR is talking to its limited partners about holding companies longer to reduce execution risk and drive returns, since low interest rates are expected to persist, according to a key executive at the Chicago firm. Craig […]
Ready to get your first fund raised? Better make sure not to give up too much of the economics to an anchor investor. That early, anchor investor can play a key role in your fundraise by convincing other investors that your fund is viable. But give up too much carried interest and investors will wonder if […]
Mezzanine debt “attractive” in current cycle, according to Michigan staff Michigan staff sees co-investment activities in mezzanine strategies $60 bln retirement system commits more than $750 mln to PE, VC Michigan’s $60 billion public retirement system will likely boost its exposure to credit-related private equity strategies over the next three to six months, according to its […]
Washington also backs Permira, FountainVest Pension forms separate account with Alinda Washington’s PE portfolio netting 10-year annualize return of 9.61 pct Washington State Investment Board committed $1.3 billion to private equity at its June 16 meeting. Washington made the commitments across three re-ups with existing managers and one first-time investment. The re-ups included funds managed […]
Price includes up to $225 mln in incentives Microsoft pays 26x EBITDA for LinkedIn Vista Equity paying lofty multiple for Marketo Inc OM Asset Management plans to pay as much as $465 million for a 60 percent stake in secondaries specialist Landmark Partners as another example of larger firms buying interests in the alternatives space. London-based […]
MacDonald to take position as Rutgers investment director MacDonald oversaw NJ’s private markets portfolio since 2011 PE portfolio expanded by 40 pct under his watch New Jersey Division of Investment private equity chief Jason MacDonald is leaving the state’s treasury department to be the first investment director of Rutgers University’s $1 billion endowment. MacDonald joined the […]
Former Pinebridge secondaries head Lambert joins Altamar Will open and run New York office for Madrid firm Altamar makes primary, secondary and co-investments Harvey Lambert, former head of secondaries at Pinebridge, is joining Madrid-based Altamar Capital Partners to open a New York office and help expand the firm’s presence in the United States. He left Pinebridge in […]
Comparisons with public market businesses, previous LBOs pose challenges “It’s really tough for the SEC to make hay,” says one compliance attorney Bowden previously brought up valuations in “Sunshine” speech Questions about how firms value portfolio companies continue to crop up in Securities and Exchange Commission examinations of private equity firms, multiple sources told Buyouts. Firms […]
Palladium Equity Partners, the New York firm founded in 1997 by Marcos Rodriguez, rang up an IRR of 20.4 percent for New York City Public Employees’ Retirement System as of Dec 31, 2014, according to the pension fund. That’s ahead of the top quartile threshold of 11.7 percent and the median of 8 percent for […]
Silver Lake can only collect accelerated fees if it meets one of two criteria Fee must benefit LPs, or not hurt LPs because of an equivalent offset Policy appears to be first of its kind Silver Lake adopted a policy governing its use of accelerated monitoring fees that appears to be a first of its kind in the […]