KPS Capital Partners related stories
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Behind KPS's Top-Up FundI'm reporting from the Private Equity Analyst Conference and the first panel of the day addressed the issues that buyout firms have been facing for a year now: LP capital constraints, fundraising difficulties, whether or not to do deals, how will private equity make it through this downturn... But as is usually the case, the most interesting comments were about a specific situation. Michael Psaros, co-founder of turnaround firm KPS Capital Partners explained his firm's recent success in raising a top-up fund. In a moment that defied the current fundraising market, the firm raised $800 million /49385/kps-tops-off-fund-iii-with-800million/ in new commitments for its third fund, which originally closed in early 2007 with $1.2 billion.
- PE fund briefs, week of Sept. 14, 2009
News briefs about the fund-raising activities of KPS, Charlesbank and other PE firms
- peHUB Wire: Wednesday, September 9, 2009
Random Ramblings
- peHUB Wire: Wednesday, September 9, 2009
Random Ramblings
- LP Organization Lays Out Guidelines
The Institutional Limited Partner Association (ILPA) today released "a set of best practices to address important issues relating to the alignment of interest between general partners and limited partners, fund governance and providing greater transparency to investors." I'm still working through it, but have posted it after the jump so that you can read along...
- KPS Tops Off Fund III with $800 Million
Do you work at a private equity firm that is having trouble raising money? Then beware the green-eyed monster that may follow... KPS Capital Partners will announce this morning that it has raised $800 million in new commitments for its third fund, which originally closed in early 2007 with $1.2 billion. This is not a so-called "annex fund," in which firms raise extra capital to support existing portfolio companies. Instead, it's more of a "top-off," because KPS sees more opportunities than the original fund size can support. The New York-based turnaround firm informed LPs of its plans to raise another $800 million on June 12, asking for orders by June 28. It held a $700 million first close in mid-August, with the final close occuring last Thursday (two LPs needed extra time).
- peHUB Wire: Tuesday, September 8, 2009
Random Ramblings
- peHUB Wire: Tuesday, September 8, 2009
Random Ramblings