Private Equity >>>
By Sabrina Willmer KKR & Co. is seeking $1.5 billion for an energy fund that will invest in oil and gas development at the asset level, according to two people with knowledge of the firm’s plans. The New York-based firm will primarily use the KKR Energy Income & Growth for drilling partnerships with a goal [...]
TH Lee Putnam Ventures, a partnership between buyout firm Thomas H. Lee Partners LP and mutual fund manager Putnam Investments, is giving investors the option of selling their stakes in its private-equity fund raised more than a decade ago, according to two people familiar with the situation. The New York-based firm is seeking a buyer [...]
The deteriorating finances of the largest leveraged buyout in history is exposing the increasingly diverging interests of its private-equity owners led by KKR & C0. and TPG Capital and the secured lenders who helped finance the $48 billion deal in 2007. Click here to continue reading
By Sabrina Willmer Thoma Bravo is weighing a co-investment vehicle that would make software investments alongside its $1.25 billion fund from last year and a possible successor fund, according to a presentation obtained by Bloomberg. The fund, which would target $300 million, would be used when Thoma Bravo Fund X LP is unable to provide [...]
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 [...]