Black Diamond Capital Management related stories
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New Jersey reaps $575m on secondary salesThe $69bn state pension has sold stakes in funds run by GTCR, Apollo, Carlyle, Oaktree, TPG, Wayzata, Black Diamond Capital Management, Credit Suisse and THL as it works to shrink the size of its portfolio to make it more manageable.
- NYC to make $2.5bn in annual commitments
CIO Larry Schloss (pictured) and private equity head Barry Miller are working to re-position the $120bn system's programme to commit more money to fewer managers.
- Z Capital in Sun Capital DIP fight
The distressed debt specialist is offering a competing debtor-in-possession loan for bankrupt Sun Capital Partners portfolio company Real Mex, one of two restaurant chains the firm controls to go bankrupt this week.
- Eaton Partners hires Sagard exec as CFO
The placement agent has made several recent hires to expand its worldwide teams, including bringing in former Jefferies fundraiser Silvia Calvo-Alcala in London.
- LA Fire and Police commits $134m
The $13.2bn system has committed to BC Partners, Baring Asia, Black Diamond and GTCR in recent months.
- Black Diamond collects $700m for Fund III
The fund, which has a $750m target and a $1.1bn hard-cap, could hold a final close in early March.
- New Mexico Educational commits $80m
The $8.8bn pension, which will commit about $225m to private equity this year, made commitments to Black Diamond Capital Management and Strategic Value Partners.
- Black Diamond wins GSC auction with $235m bid
The distressed investment firm will assume nearly all of GSC’s assets, including funds covering various debt strategies, once the sale is approved by bankruptcy court.
- Battered GSC crumbles into bankruptcy
Alfred Eckert, founder of GSC, which once managed $28bn in assets, has negotiated a new job with Black Diamond Capital.
- Graveyard shift
The final, official demise of two alternative asset managers last week raises a number of important questions, but here's one especially occupying the minds of investors: how do you retain and reward the team charged with winding down a moribund manager's portfolio?