News

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.

Need To Meet Timothy J. Whall, CEO, Protection One Security Solutions

If venture capital can have serial entrepreneurs, why can’t private equity have serial portfolio company executives? That describes the role of Tim Whall at GTCR LLC.

Dutch Pension Fund Hires Permira Executive

Dutch pension fund administrators PGGM and APG are two emerging LPs to watch as they gradually build their internal teams since they decided to sell their stakes in fund-of-funds AlpInvest in 2011, sister publication peHUB reported.

Los Angeles City Pension Bets On Distressed Debt

The Los Angeles City Employees’ Retirement System has chosen American Securities, one of its existing fund managers, for a $30 million commitment to a vehicle focused on distressed debt investments, sister publication peHUB reported.

Sterling Financial sale worth 2.5x to sponsors, on paper

A pair of buyout shops appears poised to earn roughly 2.5x their money—at least on paper—from a bank they invested in following the financial crisis.

In Diversification Move, Spell Capital Closes $135 Mln Mezz Fund

Spell Capital Partners LLC is looking to its new mezzanine fund to swing deals that would otherwise fall outside its investing mandate.

Moody's Sees Bankruptcy In '13 For Biggest Buyout

The financial stress has been apparent for two years or more at Energy Future Holdings Corp, and now Moody’s Investors Service Inc has put a timetable on the Texas utility’s likely reorganization. The credit rating agency said last week that at least some units of the company are likely to file for bankruptcy by the end of the year.

FNB Capital Shows Banks Way Past Volcker Rule

American banks, which have been shedding their private equity operations because of the Volcker Rule, may be able to use an exemption in the financial reform law at least to get back into the lower end of the middle market.

Brookfield Set To Hit $7bn Hard Cap On Infrastructure Fund

Brookfield Asset Management is nearing the final close of its second infrastructure fund and is set to hit its hard cap of $7 billion, according to three sources, making it one of the biggest private infrastructure funds ever raised.

CPPIB Shakes Up Private Investment Management Team

The Canada Pension Plan Investment Board, which manages C$188.9 billion in assets, made some management changes earlier this year on its private investments team.