Private Equity
Levine Leichtman Capital Partners said it held a final closing for mid-market buyout fund Leichtman Capital Partners Fund V LP at $1.65 billion, handily above the $1.5 billion target for the private equity firm with $7 billion under management from offices in Los Angeles, New York, Dallas, Chicago and London.
2 min read · 31 March 2014
The $34 billion Illinois Municipal Retirement Fund voted to divest $550 million from Pyramis Global Advisors’s Pyramis High-Yield Fixed Income Mandate and move its money to four other managers because the unit of Fidelity Investments didn’t meet its brokerage utilization goals for minority, female and persons with a disability-owned business, according to a statement from the public LP.
2 min read · 31 March 2014
Trivest Partners, the Florida-based mid-market firm that focuses on deals with company founders and families, earned a 4.3x gross multiple on the sale of industrial distribution firm Hazmasters to Wesco International in a deal that closed on March 17, according to a source familiar with the deal.
1 min read · 28 March 2014
Debt investing specialist Bruce Richards of Marathon Asset Management flagged investment opportunities in Europe and the expected restructuring of Texas-based Energy Future Holdings as possible ways to provide superior returns.
2 min read · 26 March 2014
AEA Investors LP shrugged off weakness in mezzanine debt fundraising and drew $575 million in commitments for AEA Mezzanine Fund III, about 40 percent more than the $420 million in its predecessor fund, according to a person familiar with the firm.
2 min read · 25 March 2014
New York State Teachers’ Retirement System has committed up to $25 million to CapStreet Group LLC’s CapStreet IV LP, which has already raised more than its predecessor fund for lower-middle-market deals in Texas and the Sunbelt states.
2 min read · 24 March 2014
Easton-Bell Sports Inc, the sports helmet maker owned by Fenway Partners, has drawn a debt downgrade from ratings agency Standard & Poor’s for the higher leverage it faces following the sale of its baseball and softball business to Bauer Performance Sports Ltd for $330 million in cash.
2 min read · 21 March 2014
The Kansas Public Employees’ Retirement System has committed up to $50 million to Freeman Spogli & Co LLC’s new buyout fund, FS Equity Partners VII, now in the market three years after the close of its predecessor.
2 min read · 19 March 2014
The summer of 2007 stood out as a time of frothy acquisitions for buyout firms. But among all the mega-deals being done, the sale that year of mid-sized retailer Spencer Spirit Holdings Inc to a U.S.-based fund of ACON Investments LLC didn’t attract much attention.
4 min read · 19 March 2014
Howard Morgan and William Pruellage, co-presidents of Castle Harlan, spoke to Buyouts at the firm’s New York headquarters.
5 min read · 18 March 2014
