Private Equity
2 min read · 25 October 2010
Erik Hirsch said the difficult fundraising environment isn't deterring fund managers trying to raise more capital. The chief investment officer of Hamilton Lane Advisors told attendees of the Dow Jones Private Equity Analyst Conference on Tuesday that the Bala Cynwyd, Pa.-based asset management firm received no less than 610 private placement memos in 2009. This year, he expects more than 500, but not quite as many as in 2009. Hirsch was discussing the numbers in the context of whether private equity as an asset class is in decline. "It's expensive, it's illiquid and it doesn't beat the public markets," Hirsch said of the industry's negative side. He added that, in the aggregate, private equity is a "lousy asset class." Nonetheless, top-performing funds that beat the public markets are what keep investors like Hamilton Lane, which has more than $88 billion of assets under management and supervision, engaged and fund managers hopeful. The number of firms trying to raise capital is indicative of that, he said. "That, to me, is not an asset class that is in decline," said Hirsch, who also argued that there should be standard industry benchmarks to grade fund performance.
2 min read · 30 September 2010
Geneva Glen Capital LLC is officially launching today. Led by Adam Schecter and Jeff Gonyo, who were former executives with WHI Capital Partners and Wind Point Partners, respectively, Geneva Glen will invest as much as $40 million in companies generating $3 million to $20 million in EBITDA; sectors of interest include as business services, consumer services, consumer products, food and niche manufacturing. Buyouts first broke the news about the firm earlier this month as part of a wider story on spin-outs.
1 min read · 21 September 2010
Atlantic Street Capital Management is in talks to sell Orlando-based delivery services company Fleetgistics to St. Louis-based buyout shop Harbour Group, according to a regulatory filing. Fleetgistics has three divisions: Medifleet, which provides same-day delivery services to hospitals, laboratories and other medical-related institutions; Partsfleet, which delivers automotive parts and other supplies; and Scriptfleet, which provides delivery services for long-term care pharmacies.
1 min read · 16 March 2010
2 min read · 06 January 2010
2 min read · 05 January 2010
2 min read · 05 January 2010
2 min read · 16 November 2009
2 min read · 02 November 2009
1 min read · 06 October 2009
