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By Sabrina Willmer Irving Place Capital, the former merchant banking unit of Bear Stearns Cos., is asking limited partners for permission to keep investing its $2.7 billion buyout fund, raised in 2006, for two more years. At the same time, it will delay raising its new fund in order to generate more realizations, according to [...]
By Sabrina Willmer Providence Equity Partners is losing two more managing directors after several other high-level departures over the past year, according to a year-end letter viewed by Bloomberg News. Managing directors Jesse Du Bey and Nadim Nsouli are leaving the Providence, Rhode Island-based firm to pursue other opportunities, according to the letter from the [...]
By Sabrina Willmer KKR & Co. will return half of the uninvested capital from a $535.8 million annex fund it raised amid the financial crisis to support its second European buyout fund, two people familiar with the matter said. It also received approval from investors to extend the life of the remaining capital in the [...]
Credit Suisse Group AG is selling its $500 million investment in the first fund raised by Global Infrastructure Partners, whose holdings include Gatwick Airport Ltd. in the U.K., as the bank strengthens its capital base, according to three people familiar with the situation. Click here to continue reading.
In this special issue: *2012 Fundraising overview *2013 Funds expected and LP commitment plans *Buyout and venture deal-making review *Exits: a round-up of trade sales, secondary buyouts and IPOs *Views from the industry Download the Private Equity 2012 Review and 2013 Outlook here.
Carlyle Group LP has raised about $150 million for a new private-equity fund that will invest in residential mortgage-backed securities after the market rebounded in the past four years, according to a person familiar with the situation. Carlyle Realty Credit Partners LP, which closed in September, will invest in AAArated residential mortgage-backed bonds, the person said. The firm [...]
Larry Jordan Rowe, a partner at Ropes & Gray LLP, spoke with Sabrina Willmer about public pension investments in companies like gunmaker Freedom Group. California State Teachers’ Retirement System, one investor in the Cerberus Capital Management funds that own Freedom Group, has said it is reviewing its commitment to the firm. Click here to continue reading. To [...]
The Jordan Company plans to seek $3 billion for its next fund that will make buy-and-build investments, according to two people familiar with the situation. The Resolute Fund III LP is expected to officially come to market early next year with the same strategy as its $3.6 billion prior fund from 2008, these people said. Click here [...]
We’ve had one key aim with every issue: to link fund managers looking for capital with investors interested in those fund managers’ strategies. We’ve done this through fundraising scoops and exclusive stories on LP commitment plans globally. We’ve also made it a core goal to give the 10,000-foot-view of what’s going on in the private-equity arena, from Q&As on [...]
By Sabrina Willmer Lake Capital Partners is returning to its roots, moving to a deal-by-deal model after deciding against raising a third buyout fund, according to three people familiar with the situation. The Chicago-based firm is close to doing its first transaction under the new model, said one of the people. To continue reading click here
