Managers

Rubicon is among a handful of tech-focused firms who are deploying at a quick pace and coming back to market sooner than has been traditional in private equity.

The firm’s recent exit of The Planet Group generated a strong return that will likely help its fundraising efforts.

The deal is an example of a formerly independent sponsor using the secondary market to provide liquidity to investors, while keeping a hook in the asset as it continues to grow.

Fund II’s expected closing comes four years after BC Partners hired Apollo Global Management’s Ted Goldthorpe to create and lead a New York-based private debt strategy.

Michael St Germain of investment consultant Segal Marco was interviewed at PEI’s Investor Relations, Marketing and Communications Forum. Here are some of the green lights and red flags he looks for in GPs trying to raise capital.

The US public pension defines new private equity guidelines and allocates over $1.1bn in commitments.

Instar, founded in 2014 by Greg Smith, ex-head of Brookfield Financial’s global infrastructure advisory group, last year closed a second flagship fund at $1.2bn.

Secondary buyers like to see a GP using capital from a new fund to reinvest in an older portfolio company as an example of the manager’s belief in the business.

The firm promoted two other partners, Mario Moreno and Owen Davis, around its third fund, which closed on $550m in 2018.

Tidemark, which is marketing a $350m inaugural fund, makes growth equity investments in lower-mid-market technology companies in North America.