Steve Gelsi

Carlyle Eyes China With $3.5B Target For Fourth Asia Fund

Upping its ante in the Far East, The Carlyle Group LP plans to raise $3.5 billion for its fourth Asia fund after ringing up promising returns on two of its three earlier funds, Buyouts has learned.

Large Market Deal Of The Year: Deltek Showcases Buy-And-Grow Model

At the height of scrutiny around job cuts by private equity firms during the 2012 presidential election, New Mountain Capital LLC sold Deltek Inc. for $1.05 billion after adding 945 employees in about seven years through a combination of organic growth and acquisitions.

Marlin Equity Partners New $1.6B Fund To Make AUM Splash

When it comes to the middle market, Marlin Equity Partners appears to be moving up in a big way with a $1.6 billion target for its latest buyout fund, Marlin Equity IV LP. If successful, the Hermosa Beach, Calif., private equity firm founded by deal maker David McGovern will nearly triple its current $1 billion in funds under management and move up a notch or two in the world of medium-sized shops.

Marlin Equity Partners Scaling Up With $1.6B Fund

Marlin Equity Partners LLC plans to raise $1.6 billion in its fourth fund, well above the $650 million it drew in its most recent fund, which closed in 2009, according to a regulatory filing.

CHS Capital Spawning Three PE Firms

Three senior executives at CHS Capital are forming a Chicago buyout firm called Shorehill Capital, which will be seeded with about $100 million from its principals, Buyouts has learned. Separately, four other members of the CHS’s investment team are apparently combining their talents behind a new private equity firm billing itself as a specialist in growth-oriented investments in business services, health care and education, and a third firm is also in the works by a leading executive at the firm.

Biggest All-Time LBOs Produce Mixed Results

While the biggest LBOs of all time continue to carry piles of debt on their balance sheets several years from their pre-crisis inception, some have made headway by posting profits, cutting their leverage levels, and even making a few acquisitions of their own, an analysis by Buyouts shows.

Deal Count Drops 21% in Q1; Pipeline Builds

Catching their breaths after a rush of mergers to beat higher taxes in the fiscal cliff pact, U.S. leveraged buyout firms closed 21 percent fewer deals in the first quarter of 2013 compared to the year-ago period. Meantime, disclosed dollar volume rose by nearly $3 billion as target companies held out for higher prices, according to results compiled by Buyouts.

Silver Lake’s Hutchins Sees Tech Outpacing GDP

Silver Lake Co-Founder Glenn Hutchins doesn’t see the current economic recovery picking up any more steam, but he’s still bullish on the technology sector, the dealmaker said at his April 4 keynote address at the Buyouts East conference, part of PartnerConnect.

Credit Suisse Banker Sees ‘Cautious Optimism’ For IPO Exits

Buyout firms and their bankers seeking exits through initial public offerings remain cautiously optimistic about investor demand and market conditions, a leading dealmaker said at the Buyouts East conference at PartnerConnect on April 4.

Carlyle’s Rubenstein Sees 'More Normal Limit' Of $5B-$7B On Deal Size

Carlyle Group Co-CEO David Rubenstein sees few leveraged buyouts on the horizon above $15 billion, with co-investments from limited partners replacing club deals among private equity firms as the preferred mode for big mergers, he said at the PartnerConnect East conference in Boston on April 3.