The highly anticipated secondary market sell-off of a portion of CalPERS’ massive private equity portfolio has begun, with publicly traded Conversus acquiring $200 million in mostly special-situation fund interests. Oak Hill and three other firms also purchased fund interests, details of which remain opaque even to secondary market insiders.
The private equity collaborators have committed $450 million to Houston-based oil and gas startup Dynamic Offshore Resources, which is targeting Gulf of Mexico assets.
Linklaters’ banking partners Annette Kurdian and Nick Syson outline the shift to tighter deal terms and structure which began amid last summer’s liquidity crisis and shows little sign of abating.
Closure of Roark Capital’s latest mid-market fund more than triples the US firm's assets under management.
Despite the slowed LBO market, US pension funds’ private equity appetites are as voracious as ever. Megafunds, mid-market specialists, distressed vehicles, and European and Asia-focussed funds are among the latest recipients of fund commitments.
Investcorp capitalises on investor appetite for growth buyouts as credit markets close the door on mega deals for now.
The publicly listed alternative assets manager will invest in Africa’s natural resources via a joint venture with Tokyo Sexwale’s Mvelaphanda Holdings and Africa-focussed Palladino Holdings.
The San Francisco venture firm has closed what it says is the largest-ever ‘crossover’ fund, a tech-focussed vehicle that is both a hedge fund and a venture fund.
Former Goldman Sachs partner Doug Kramer has been named COO and will help launch the firm’s asset management business, which was recently chosen to invest billions for New York mayor and media mogul Michael Bloomberg.
The lower mid-market UK firm has capitalised on the surging interest in the smaller end of the buyout market as the credit crunch cripples its mega fund peers.
Fundraisers with solid track record in Asia may no longer need to go to the US for an extensive roadshow if the recent support by two Canadian pension plans for newly established FountainVest was illustrative.
The Swiss firm is extending its approach into larger growth capital deals and has recruited two heavyweights to lead the charge.
The alternative investment firm raised the vehicle in just two months, co-founder Howard Marks told PEO.
Debut fund from deal veterans finds a place in the sun as investors shrink from committing to mega funds and shift focus to smaller deals.
The spin-out from 3i is profiting from investor appetite for mid-market deals as the credit crunch hits large buyouts.