Private Equity
Major changes in the fundraising industry continue with Evercore’s purchase of an eight-person private placement team from the former Lehman division.
2 min read · 05 January 2013
The firm has agreed to buy up to 148 properties from Sunwest, which filed a pre-packaged Chapter 11 reorganisation plan in August. The SEC sued Sunwest for fraud in March after it almost devolved into a Ponzi scheme.
2 min read · 05 January 2013
The Chinese sovereign wealth fund is reportedly investing $500m each in custom accounts with secondaries players Lexington Partners, Goldman Sachs and Pantheon Ventures.
2 min read · 05 January 2013
The firm has thrown out the classic 2-and-20, charging LPs 15% carry and up to 1.5% for management fees
2 min read · 05 January 2013
In a letter to the CEO of FINRA dated 18 December 2009, obtained by PEM, the director of the SEC's division of investment management said the SEC might create an exception to the ban for registered broker-dealers acting as legitimate placement agents, if FINRA can implement rules that would prohibit pay-to-play practices. Read the full text of the letter.
2 min read · 05 January 2013
UK-based Lion Capital, currently raising Fund III, purchased Kettle Foods in a 2006 deal that valued the company at around $300m.
1 min read · 05 January 2013
The Quadrangle team managing $5bn of Mayor Bloomberg’s personal fortune will spin out into an independent entity.
2 min read · 05 January 2013
The country is seeking to become more aligned with global standards regarding private equity fund establishment and operation, although US firms still may be hit with a new capital gains tax on exits.
2 min read · 05 January 2013
Management also said during the New York Stock Exchange-listed infrastructure fund’s second quarter earnings call that they are bullish on natural gas infrastructure and may pursue opportunities to acquire assets from over-leveraged infrastructure companies.
2 min read · 05 January 2013
As emerging markets rebound more quickly than advanced economies, GPs must maintain investment discipline to win LP support, writes Christopher Witkowsky.
2 min read · 05 January 2013
