News

GPs build alignment through ‘aggressive’ terms like 0% management fees

It’s an LP world; GPs just live in it. Some GPs—especially new shops that are raising debut funds—are offering zero percent management fees with 20 to 30 percent rates of carried interest, according to Prakash Mehta, partner and co-head of the investment management practices at the law firm Akin Gump Strauss Hauer & Feld.

Quantum Energy targeting $2.5 bln for Fund VI

Quantum Energy Partners is back in the market targeting $2.5 billion for its sixth energy-focused private equity fund, according to two people who have heard the firm’s fundraising pitch.

LP Gigliotti to retire as private markets head at DuPont Capital

Long-time limited partner Carmen Gigliotti, managing director of the private markets group at DuPont Capital Management, is stepping down from his role this summer but will remain active on the investment committee.

Ardian's Verbrugghe: 'You have to demonstrate you will be able to deliver'

Earlier this month, Ardian (the former AXA Private Equity) revealed it was the buyer in one of the biggest private equity secondary deals of the year—acquiring a private equity portfolio valued at about $1.3 billion from GE Capital.

Carlyle builds sales muscle in FoF group

The Carlyle Group has hired Curtis Johnson as a managing director in the firm’s Solutions Group, which houses fund-of-funds operations in private equity, real estate and hedge funds.

Blackstone-backed Patria chases $1.5 bln for Fund V

Patria Investimentos, backed by The Blackstone Group, is aiming for a first close on its fifth private equity fund this month as fundraising for Brazilian private equity is expected to heat up, according to two people with knowledge of the fundraising.

NGP Capital targets $4.5 bln for Fund XI

Carlyle Group-backed NGP Energy Capital Management is in the market targeting $4.5 billion for its 11th fund, according to a limited partner who has heard the firm’s pitch.

Former Caspian executive joins Abu Dhabi SWF

Andrew Kripke, a former executive at Caspian Private Equity, has joined the Abu Dhabi Investment Authority as a portfolio manager in the U.S. fund investments business, an ADIA representative confirmed.

Exclusive: Riverwood eyes $1.25 bln hard cap on Fund II

Riverwood Capital has raised about $1 billion for its second fund, already hitting its target as the firm now eyes its $1.25 billion hard cap, according to three people with knowledge of the situation.

Carlyle’s ‘done things the right way’ on fees and expenses: UPDATED

The Carlyle Group is not worried about the increasing pressure by the U.S. Securities and Exchange Commission on the private equity industry around fees and expenses.