Buyout pros often torpedo their own deals because of a lack of emotional intelligence and a failure to build rapport with those on the other side of the negotiating table, says David Solomon, the CEO of Lazard Middle Market.
1. GTCR was one of the first private equity firms to bring on a full-time capital markets person to monitor conditions in the credit markets. What do you think will happen to the deal economy if and when the Federal Reserve begins to taper off its market intervention? There are many variables involved, so it’s […]
• Clark to step down Dec. 31 • Executive had been pushed into personal leave • Board meeting approves review The chief investment officer of the Pennsylvania State Employees’ Retirement System, one of the oldest and most prolific public system limited partners in the private equity industry, has resigned effective Dec. 31, sister news service […]
A recent survey of limited partners has mixed news for general partners heading back to the well for fresh commitments in 2014, with many investors saying they have a strong appetite for U.S. buyout funds but little interest in evaluating new relationships with sponsors. Nearly two-thirds of respondents (62 percent) said they “plan to focus […]
After two years of sluggish deal making in the technology industry, participants in a survey are “modestly bullish” that the pace of mergers and acquisitions will pick up in 2014, according to a report by the law firm Morrison & Foerster.
Investors trying to decide which funds to back are putting more emphasis on realized returns, and deploying new tools to understand just how much sponsors beat or fall short of public equity benchmarks, according to interviews with advisers, sponsors, academics and vendors.
1. Congratulations on your creation of Heritage Home Group LLC and the acquisition of the assets of Furniture Brands International Inc out of bankruptcy. What attracted you to this deal? Heritage Home Group was a company we created to buy the assets and some obligations of Furniture Brands. This shows a lot about our team […]
Wondering what’s hot with institutional investors? Keep an eye on what products advisers are creating for them. And right now at least two are in the market with energy funds of funds.
The JOBS Act gives buyout shops unprecedented ability to market their funds to investors broadly but limits the actual sale of partnership interests to investors who are accredited — the same standard that always has applied. But for fund sponsors seeking to reach the vast retail market, suggests Lennine Occhino, a partner at the law firm Mayer Brown, maybe the most direct route would be to market themselves to defined contribution retirement plans, such as target-date funds.
You were recently named chairman of the board at Real Mex Restaurants after you bought out a minority investor. Congratulations. RealMex had been in the Sun Capital portfolio before it went into Chapter 11, where you acquired it. Does it give you special concern to step into a situation where a peer has struggled? It […]