Private Equity
3 min read · 28 September 2009
Sun Mountain Capital has been retained by a number of public and private organizations in Arizona, to launch and operate a new fund-of-funds that would back firms that invest in early-stage companies based in Arizona. The vehicle would aim to raise upwards of $200 million.
3 min read · 28 September 2009
1 min read · 23 September 2009
San Francisco-based secondary firm Industry Ventures today will announce its acquisition of Little Hawk Capital, a Washington, D.C.-based firm focused on direct and indirect investments in small VC and growth equity funds. Consider it a secondary secondary, which probably makes it a tertiary... Little Hawk founder Roland Reynolds will serve as a principal with Industry Ventures, while existing Industry staffer Ken Wallace was promoted to vice president and will work with Reynolds. Little Hawk raised $30 million for its debut fund in 2006, and still has room for a handful of new commitments. Reynolds says that the plan is to work through this vehicle -- now rebranded Industry Little Hawk -- before beginning a new fund-raise.
2 min read · 23 September 2009
1 min read · 21 September 2009
CalPERS, the nation's largest public pension system, has updated its website to include private equity performance data through the end of Q1. Finally! The refresh should have occured following an August 17 investment committee meeting, but neither official schedules nor my constant pestering -- just ask the CalPERS press office -- could make the system's webmaster go faster than glacial. Overall, the private equity portfolio had $42.4 billion in private equity exposure as of March 31 (down 31.4% year-to-year). This includes 629 active fund interests, including leveraged buyout funds, venture capital funds, growth equity funds, mezzanine funds, funds-of-funds and distressed funds. You can download the whole lot of them (with IRRs) by clicking here. If that's too many numbers, what follows is some data on CalPERS' five largest holdings (by
1 min read · 14 September 2009
Oak Hill Advisors has closed a new distressed debt fund with $1.125 billion in capital commitments. The fund began making investments last October.
2 min read · 14 September 2009
DFJ Esprit has held a €70 million first close for its third European venture capital fund, which is targeting €150 million. LPs include the European Investment Fund, Finnish Industry Investors, Partners Group, JP Morgan, LGT Group and Harbourvest. DFJ Esprit also has raised £170 million for its inaugural secondary fund.
2 min read · 14 September 2009
1 min read · 13 September 2009
2 min read · 10 September 2009
