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Sankaty Advisors acquires J.P. Morgan investment portfolioSankaty Advisors has acquired a portfolio of loans and other securities from J.P. Morgan’s Global Special Opportunities Group. The portfolio contains mezzanine loans in North America and Europe, as well as loans and related special situations investments in Australia and across Asia, with an aggregate value of approximately $1.3 billion.
Five Questions with Ian Loring, Managing Director, Bain Capital1. Some of the loftiest valuations are being paid in the technology, media and telecommunications (TMT) sector right now—upwards of 10x to 15x EBITDA in many cases. Is this going to end badly?
U.S. venture firms raise $7.39 bln, more than double year earlier: ReutersU.S. venture capital funds raised US$7.39 billion in the second quarter, more than double the amount generated a year ago, as investor demand for startup companies stayed strong, Reuters reported. The number fell short of last quarter's US$9.08 billion, the strongest showing since late 2007, but still marks one of the biggest quarters in recent years, according to the National Venture Capital Association.
- U.S. venture firms raise $7.39 bln, more than double year earlier: Reuters
U.S. venture capital funds raised US$7.39 billion in the second quarter, more than double the amount generated a year ago, as investor demand for startup companies stayed strong, Reuters reported. The number fell short of last quarter's US$9.08 billion, the strongest showing since late 2007, but still marks one of the biggest quarters in recent years, according to the National Venture Capital Association.
- Enrique Salem joins Bain Capital Ventures as MD
Bain Capital Ventures has appointed Enrique Salem as a managing director based in its Palo Alto office. Salem will identify and lead investments in companies in infrastructure software and services across all stages of development.
- Bain holds €2.03bn first close
Firm principals will contribute at least €250m to the European fund
Oxygen flows freely to sub-$1 billion fundsAt the peak of the last fundraising boom six years ago, sponsors had reason to feel like small potatoes if they were targeting anything less than $1 billion. Today, with fundraising soaring again, such firms are playing a far larger role in the market.
Dealmaking picks up, but at higher pricesU.S. sponsors tallied up more closed deals in the second quarter than a year ago as the sustained economic recovery and strength in the credit markets created a mood to merge.
Brockway Moran more than doubles size of wine distribution platformBrockway Moran & Partners, the Boca Raton, Florida-based buyout firm, has closed a deal to combine its wine distribution company, The Vintner Group, with Winebow Inc, in a move to double the size of the portfolio company.
Fund briefs Jul 1, 2014Meritech raising a fifth fund; Khosla targeting $1 billion; and BlueRun seeks $150 million