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Private Equity

Newer Funds Get Higher Prices, Public Pensions Are Sellers, Survey Finds

July 31, 2015

Ainslie Chandler, Bloomberg Brief Tail-end funds and challenged funds are priced 10 percent to 15 percent lower than younger funds with “high-quality managers” on average, according to a study by advisory firm Greenhill Cogent released today. Funds less than 10 years old had an average high bid of 93 percent

Secondary Investors Find Opportunities Where Funds Are Past Their Sell-By Dates

July 31, 2015

BY AINSLIE CHANDLER, BLOOMBERG BRIEF As the number of long-in-the-tooth private equity funds rises, secondary market investors increasingly see restructurings as an important source of deal flow. A generation of funds raised before the financial crisis are ripe for restructurings. In 2012, there was $125 billion of net asset value in funds more than 10 years old, according to

Monitor Clipper Calls Off Fourth Fundraising

July 30, 2015

Monitor Clipper Partners has suspended raising its fourth fund, according to an e-mailed statement from Travis Metz, a partner of the firm, that was attributed to Monitor Clipper’s eight partners. The New York-based firm began raising Monitor Clipper Equity Partners IV in early 2014 with a target of $600 million, two people familiar

Pomona Capital Said to Launch New $1.8 Billion Fund

July 30, 2015

BY KIEL PORTER AND AINSLIE CHANDLER Pomona Capital is preparing to come back to the market to raise about $1.8 billion for secondary investments three years after it raised a similar sum, according to a person with knowledge of the raising. Pomona closed its prior flagship fund, Pomona Capital VIII, in 2012,

LPs Are Open to New Managers as They See Their Allocations Cut

June 24, 2015

Two thirds of limited partners have settled for smaller-than-desired allocations to some funds in the last 12 months, according to a survey by Coller Capital. The cutbacks come as private equity investors have received record distributions from general partners in recent years, leaving LPs flush with cash to reinvest. Strong demand

Women Gain at Some Buyout Firms, Lose Ground at Others

April 29, 2015

Women Gain at Some Buyout Firms, Lose Ground at Others Some private equity firms have increased the number of women in senior ranks in recent years, an analysis of the firm’s data by Bloomberg found. Others have moved backward, as Madeline McMahon and Devin Banerjee write. The figures are for women in

Jam Maker Provides Exit for Pet Food Investment; Investors Hungry for Shake Shack

February 4, 2015

(Click to enlarge) This chart was taken from the Bloomberg Brief Private Equity Newsletter. To take a complimentary 30 day trial click here. 

NXT Capital Raises $291 Mln for Leveraged Loan Fund

January 28, 2015

NXT Capital has closed its third debt fund which, like its predecessor, will invest in first- and second-lien loan transactions. NXT secured $291 million in equity commitments for NXT Capital Senior Loan Fund III, primarily from seven institutional investors, including pensions, insurers and foundations. Wells Fargo Bank agreed to provide the fund a

Juggernaut’s Third Buyout Fund to Aim for $350 Million

January 21, 2015

BY AINSLIE CHANDLER AND SABRINA WILLMER Juggernaut Capital Partners is targeting $350 million to $400 million for its latest middle-market buyout fund, according to two people with knowledge of the fundraising. The target is well above the $220 million the manager raised for its second fund in 2011. The fund manager won a

Morgan Stanley Bucks Bank Trend Away From Buyouts

January 14, 2015

BY SABRINA WILLMER Morgan Stanley’s private equity unit is seeking $1.5 billion for a fund that will make buyout investments mostly in North America even as banking peers withdraw from the asset class, said two people with knowledge of the matter. The New York-based bank’s global private equity team is seeking more