While some GPs argue that the several forms of 'deal fees' are needed to support the operations of the firm, many LPs are pushing for 100% of these fees to go toward offsetting management fees.
3 min read · 05 January 2013
The US public pension, not having seen enough ‘sufficient quality opportunities’, has committed only one-third of its budgeted $1.5bn for private equity investments this year.
1 min read · 05 January 2013
Leo de Bever, head of the C$70bn Alberta Investment Management Corporation, said money managed by external GPs costs ‘nine times what it costs me internally’.
2 min read · 05 January 2013
Goldman is raising $300m and Axa is raising €600m to invest in LP stakes that are minimally funded.
2 min read · 05 January 2013
The SEC is attempting to prevent private equity firms from using placement agents when dealing with US public pensions. The agency also wants to eliminate the political contribution factor from the interaction between investment firms and public pension officials.
2 min read · 05 January 2013
The turnaround specialist gave bankrupt calendar maker Lang Holdings a bankruptcy loan for up to $16m, which it later used as part of its bankruptcy bid.
2 min read · 05 January 2013
New York Attorney General Andrew Cuomo has reached a resolution with The Carlyle Group under which the firm has pledged to avoid hiring placement agents to obtain investments from New York’s public pensions. Carlyle also agreed to pay $20m to ‘resolve its role’ in the pension pay-to-play investigation.
3 min read · 05 January 2013
The firms will pay C$8 per unit for the company, which provides custom brokerage, transportation and logistics services.
2 min read · 05 January 2013
Invesco, TCW and Blackrock are among the firms that have held initial closings on funds that will buy distressed assets from banks and help reinvigorate the US credit markets.
2 min read · 05 January 2013
Blackstone's Fund VI had collected $8bn as of February.
1 min read · 05 January 2013
