Private Equity
Despite typical first-quarter sluggishness, positive signs abound for fundraising for the rest of 2013. Among them are distributions outpacing capital calls, a strengthening economy, a bull market for stocks, and the launching of a number of brand-name funds. In addition, more money from retail investors could start finding its way into the asset class.
8 min read · 08 April 2013
A key person at Texas Teachers’ Retirement System in charge of its much-discussed separate accounts with Kohlberg Kravis Roberts & Co. and Apollo Global Management has stepped down to join the private sector.
2 min read · 26 March 2013
Up until recently, admission to the exclusive private equity club was limited to pension funds, endowments and the world’s richest families. But in March, The Carlyle Group announced it planned to lower its minimum commitment to a fund to as little as $50,000. The question for investors is: Now that you have greater access, do you want in?
8 min read · 25 March 2013
3 min read · 25 March 2013
AXA Private Equity, the private equity unit of the giant French insurance company, has formally issued a plan to spin out from its parent company, AXA Group. The management-led spinout would value the company at around $660 million. If the deal closes, which the firm estimates will happen by the fourth quarter, the new company will ultimately change its name, and its employees will own a sizable stake in the new enterprise.
2 min read · 25 March 2013
Riordan Lewis & Haden Equity Partners, a mid-market buyout firm that was co-founded by Richard Riordan, the former mayor of Los Angeles, closed on its latest fund, RLH Investors III LP, with $380 million in commitments. That was substantially more than the fund’s original $250 million target. The fund had been raising money since 2011.
2 min read · 21 March 2013
By naming Christine Pastore as Vista Equity Partners’s first-ever chief of investor relations, the firm is signaling, she said, that “it definitely expects to be a larger firm.” She said that Vista expects to come back to market with its fifth flagship fund in 2014, just two years after closing Fund IV.
3 min read · 19 March 2013
The former chief executive of the $257 billion California Public Employees’ Retirement System was indicted by a federal grand jury for conspiring to defraud Apollo Global Management, a prominent private equity firm. In what was alleged to be a decisive moment in CalPERS’s long-running pay-to-play scandal, Federico Buenrostro, the pension’s former chief, was charged with...
3 min read · 19 March 2013
Windjammer Capital Investors, a credit-focused private equity firm, closed its latest flagship fund, Windjammer Senior Equity Fund IV LP, with $726 million in commitments, slightly above the fund’s original $700 million target.
1 min read · 18 March 2013
Affinity Equity Partners has held an interim close of $1.4 billion for its latest Asian buyout fund, Affinity Asia Pacific Fund IV LP. The fundraising has been helped along by several investments by U.S. pension funds, notably the Washington State Investment Board, which committed $300 million at its most recent board meeting.
1 min read · 14 March 2013
