Steve Gelsi

Ex-Blackstone execs draw $1.7 bln for Stonepeak I, with TIAA-CREF support

Stonepeak Infrastructure Partners, which was spun out of Blackstone Group two years ago, has raised $1.65 billion for its oversubscribed, inaugural middle-market infrastructure fund with support from anchor investor TIAA-CREF.

CalPERS hikes private equity allocation to $6B, up by $1B

CalPERS hikes private equity allocation to $6B, up by $1B

The California Public Employees’ Retirement System plans to channel $6 billion into private equity investments in fiscal 2013-2014 in a move that increases its allocation to the asset class by $1 billion over last year, an official with the $258 billion pension program said.

Carlyle's TCW Group shops for more 'all-stars' after buying Craton Equity Partners

TCW Group continues to shop for more top quartile funds and other properties to compile an “all-star team” after the Los Angeles money management firm with $130 billion in assets paid an undisclosed sum to buy Craton Equity Partners, a private equity firm that survived a downturn in green investing after the financial crisis.

Talking top quartile with Terry Mullen of Arsenal Capital

Arsenal Capital Partners II, the $500 million buyout fund run by New York-based Arsenal Capital Partners, landed near the leaders among top quartile funds from 2006 with an internal rate of return of 21.3 percent as of Sept. 30, 2012, according to data compiled by Buyouts.Terry Mullen, who co-founded the firm with Jeff Kovach in 2000 after working at Thomas H Lee Partners LP and Morgan Stanley, said the firm continues to target specialty industrial and healthcare companies with revenue of $30 million to $400 million. In April, Arsenal closed Arsenal Capital Partners III with $875 million in commitments. Currently, the firm manages $1.7 billion.

Vista crushes target with $1B Foundation Partners II fund

Doubling its target in a quick fundraise, Vista Equity Partners is nearing a $1 billion close for Vista Foundation Partners II, its buyout fund series for software and technology service companies with between $20 and $200 million in enterprise value, according to a source familiar with the firm.

KKR, Carlyle chiefs look past debt showdown, see U.S. growth

Executives at two of the largest private equity firms provided a bullish macroeconomic view for a continued recovery in the U.S. business environment, as they looked past the current showdown in Congress over the debt ceiling.

Consumer shop Brynwood Partners VII fund reaches $400M hard cap in one close

Brynwood Partners, a lower mid-market buyout shop that owns Back to Nature Foods Inc, Pearsons candy and other consumer names, said it reached its $400 million hard cap in one close for Brynwood Partners VII LP, five years after wrapping up its earlier fund in the same series.

Drawing LP interest, Yenni Capital ups inaugural fund to $300M

Yenni Capital has raised the hard cap for its Yenni Income Opportunities Fund I by $100 million to $300 million after the New York firm drew strong initial interest from limited partners in its inaugural, lower-mid-market buyout fund. LPs in the fund are expected to be paid a minimum annual dividend of 10 percent and earn at least a 40 percent gross internal rate of return.

Bedrock mulling outside interest in 'Made In the USA' investments

Bedrock Manufacturing Co has been flying mostly under the radar in the private equity world since its launch in 2005 by the founder of the $7 billion watch and accessory brand Fossil Group Inc. But after self-funded investments in Shinola watches, Filson clothes, Reel FX animation studio and others, the firm may consider outside investors to fuel growth, an executive at the firm told Buyouts.