Private Equity
Greg Geiling, a senior Blackstone executive who oversaw special situations investments at BX’s hedge fund unit Blackstone Alternative Asset Management, has left, Reuters reported. Geiling resigned from Blackstone earlier this year and left the firm last week, the story said. Geiling was a senior managing director and head of the hedge fund solutions special situations investing group.
1 min read · 24 October 2019
Cerberus Capital Management is weighing a sale of Covis Pharma Holdings Sarl, which could fetch about $800 million, Bloomberg reported. Covis, a specialty pharmaceutical company, has attracted attention from private equity, the story said.
1 min read · 24 October 2019
Kell Reilly has joined General Atlantic as a managing director. Reilly will focus on investments in the Technology sector, based in Palo Alto. Reilly was previously with D1 Capital Partners, where he served as co-head of the technology, media & telecommunications sector.
3 min read · 24 October 2019
PinHigh Capital Partners has invested in Sullivan and Sons Inc. Financial terms weren’t announced. Sullivan and Sons manufactures and remanufactures control valves. It also distributes instrumentation used for liquid and gas flow control within industrial applications. Carr, Riggs & Ingram Capital Advisors LLC (CRI Capital Advisors) provided financial advice to Sullivan.
2 min read · 24 October 2019
Coople said Oct. 24 that it raised $32 million in a Series C funding round from a group of investors led by One Peak Partners and the growth equity business within the Goldman Sachs Merchant Banking division. Coople, of London, is a European on-demand platform for flexible staff.
4 min read · 24 October 2019
Blackstone’s Schwarzman defends private equity; LPs concerned about war on PE but don't know what to do
2 min read · 24 October 2019
Stephen Schwarzman, Blackstone’s CEO, delivered an impassioned defense of BX’s record during the firm’s quarterly earnings call, the Wall Street Journal reported. Blackstone’s portfolio companies have added more than 100,000 net jobs during its ownership over the past 15 years, the story said. BX has made more than 700 control investments during this time but has only experienced one bankruptcy filing and no liquidations, the WSJ said. The firm reported a profit of $779.4 million, or $1.15 a share, compared with $442.7 million, or 64 cents a share, in the same period a year earlier, the story said.
1 min read · 24 October 2019
Sunstone Partners said Oct. 16 that its second fund closed at its $475 million hard cap. Sunstone, of San Mateo, seeks to invest $25 to $75 million of equity in software and technology-enabled services companies that have annual revenue of at least $10 million. Sectors include Cloud, cybersecurity, healthcare IT and marketing services.
2 min read · 23 October 2019
DiligenceVault said Oct. 23 that it raised a Series A round led by Goldman Sachs. Existing investors participated in the round. Financial terms weren’t announced. DiligenceVault, of New York, provides a digital diligence platform for investment managers, asset owners and allocators.
3 min read · 23 October 2019
LPs force Wingate to stop making new investments; Record demand for operating partners
2 min read · 23 October 2019
