The Blackstone Group received another $100 million separate account commitment to its Blackstone Tactical Opportunities Fund LP, according to a regulatory filing with the Securities and Exchange Commission, but it wasn’t clear from the filing who the new investor was. The fund had earlier amassed up to $1.5 billion in separate account commitments from the California Public Employees Retirement System and the New Jersey Division of Investment.
Fortissimo Capital, a small-to-mid-market private equity firm, whose turnaround and subsequent exit from Soda Stream International won the Buyouts 2012 small market ‘Deal of the Year’ award, just closed on its third fund, Fortissimo Capital Fund III LP, the firm announced. The Israel-based fund closed on commitments of $265 million, above the $250 million target.
Pine Brook Partners, a fund that specializes in early-stage private equity investments in the energy and financial services industries, is wading again into the fundraising pool, trying to raise $2 billion for its sophomore fund, Pine Brook Capital Partners II LP, according to a recent filing with the Securities and Exchange Commission.
The private equity unit of Denmark’s Danske Bank closed on its latest fund of funds, Danske Private Equity Partners V LP, having raised $820 million in less than a year. The final close was above the initial $750 million target. The fund’s capital was raised mostly from European institutions, particularly in Scandinavia.
Two chestnuts often repeated at conferences are the need for private equity shops to specialize and also shift gears when an industry changes. Avista Capital Management, a New York-based mid-market growth capital firm, has fully embraced both since the day in 2005 that its seven top executives left Credit Suisse DLJ Merchant Banking Partners.
The $83 billion State of Wisconsin Investment Board last month sold $1 billion worth of funds from publicly listed private equity firms after concluding that those firms could no longer demonstrate that the pension fund’s interests came first.
New York City’s five pension funds made $600 million in fresh commitments to three private equity funds, according to a spokesman for the New York City Comptroller’s Bureau of Asset Management, which manages their assets. As of June 30, 2012, the five pensions had combined assets of $122 billion.
Aurora Capital Group, a Los Angeles-based mid-market private equity firm, is two thirds of the way to its $900 million fundraising goal for its latest fund, Aurora Equity Partners IV LP, Buyouts has learned. The fund, which held its first close in June 2011 and has had rolling closes since then, is expected to have a final close by the end of the year.
Versa Capital Management, a firm specializing in mid-market distressed buyouts, received a $150 million anchor commitment for its newest fund, Versa Capital Fund III LP, from the $50 billion Pennsylvania Public School Employees Retirement System. With the fund’s $750 million target, the commitment represents an unusually large 20 percent of the fund’s fundraising goal.
1. Your firm, Z Capital Partners, owns several well-known brands, including Mrs. Field’s Cookies, Chevy’s Restaurants and TCBY. When it comes to trying to turn companies around, does a well-known brand help or hurt the effort? You’ve hit on a good point, which is that if you have a high-profile company and you don’t get […]