HM Capital Partners

HM Capital became the latest in a slew of private equity firms to invest in distributors of yellow pages directories, when it announced an agreement to acquire Phone Directories Company. The investment is the first from HM’s new Sector Performance Fund.

Dallas-based HM Capital Partners becomes the latest private equity firm to realize a substantial return on its investment in the energy sector.

The co-founder of one of the industry’s most established and storied buyout firms has told investors he will step down a year from now to focus on his new ‘day job’ as sports team owner and family office head. Lyndon Lea steps up.

The only winners from Yell's pulled flotation seems to have been the lawyers and accountants. And the question now is when and how the directories business will provide an exit for Apax and Hicks, Muse. Breakingviews reports.

The firm, which spun out of HM Capital Partners about four years ago, closed its second fund on nearly double the amount of capital raised for its debut fund.

The sale comes as Kainos continues to amass capital for its second fund, targeting $750m.

Secondary market deal activity declined dramatically in the first half of 2013, amid strong public markets. Secondary buyers have been waiting for the floodgates to burst open.

Kainos Capital, which is targeting $400m for its debut fund, is working to convince LPs that the team’s long experience investing in food and consumer products will translate to strong returns.

Manatt Phelps, which took a fee from an LA buyout firm for arranging a CalPERS meeting, has agreed to pay a fine and accepted a five-year ban on facilitating business with New York pension funds.

The Los Angeles-based firm will pay $1m to the New York Common pension fund and has agreed to exit the placement business.

In relation to the pay-to-play scandal, Ares and Freeman Spogli have signed on to New York Attorney General Andrew Cuomo’s code of conduct that prohibits the use of placement agents.

The Los Angeles-based firm will pay $1m to the New York Common pension and has agreed to exit the placement business.