Fundraising

Oregon commits $300 mln to one of its favorites, Lone Star

Oregon Investment Council went beyond the recommendation from its investment staff and pledged $300 million to Lone Star’s third real estate fund, which recently raised its hard cap to $6.6 billion, sister publication peHUB reported.

PIKs return, but it's different this time

PIKs are making a comeback, as more companies issue bonds with payment-in-kind features, Moody’s Investors Service Inc reported, but the credit rating agency foresees a more benevolent outcome now than in the years leading up to the Great Recession.

BDCs seize the moment to raise new capital

Business development companies continue to take advantage of a strong stock market and low interest rates to raise additional equity and debt capital to finance sponsor-backed deals.

Sponsors criticize SEC's proposed solicitation rules

With new rules on general solicitation now in effect, buyout shops and their supporters in Washington, D.C., are concerned that a separate set of proposals could dampen their ability to advertise and promote their funds to investors.

Peak Rock closes inaugural fund at $700 mln hard cap

Peak Rock Capital LLC, a startup buyout shop based in Austin, Texas, announced Sept. 24 that it has closed its inaugural fund at its hard cap of $700 million. The firm plans to buy companies in the middle market where it can invest debt, equity and hybrid capital to help companies address operational or financial difficulties.

Washington State to reduce private equity target

The Washington State Investment Board, one of the most active private equity limited partners in the industry, is dialing back its allocation target to the asset class.

Riverside hires five from VSS for credit investing

The Riverside Company is joining the ranks of buyout firms that are branching out into credit strategies.

Need To Meet : Mayer Brown partner calls revised CLO rules 'unworkable'

J. Paul Forrester minces no words when it comes to the revised rules for CLO managers.

San Francisco pension system approves alternatives consultants

TorreyCove Capital Partners and Cambridge Associates are set to take over alternative investment consulting duties at the San Francisco Employees’ Retirement System, which is ending its relationship with Portfolio Advisors, sister publication peHUB reported.

Langdon to lead Hermes GPE’s Boston office as Brown departs

Delaney Brown, the executive who opened alternative asset manager Hermes GPE’s US office in Boston two years ago, has left the firm, a spokesperson confirmed to sister publication peHUB.