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Friday, 19 December 2014

Lead Story

Buyouts Deal of the Year Awards

Calling all entries! Buyouts 'Deal of the Year' Awards 2015

09 December 2014

Buyouts is now accepting applications for its fifteenth annual Deal of the Year awards, honoring exceptional buyouts that were fully or mostly realized in 2014. Winners will be selected in seven categories:

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Top News & Analysis

Cyprium reaches $450M in long fundraise after KeyCorp spinoff

19 December 2014

Cyprium Partners has raised $450 million for Cyprium Investors IV LP, a private equity pool launched after the firm spun off from KeyCorp, according to a source familiar with the firm.

Fulcrum holds C$180 million first close on fund earmarked mainly for Canadian companies

18 December 2014

 Fulcrum Capital Partners has raised C$180 million ($155 million) in a first close of its fifth partnership, Fulcrum Capital Partners V LP, earmarked mainly for investments in lower mid-market Canadian companies.

Gávea closes $1.1 bln Brazil fund

17 December 2014

Gávea Investimentos closed its latest Brazilian private equity fund on $1.1 billion, adding another vehicle to the already impressive list of Latin America-focused funds to hold closes in 2014.

PE allocation keeps costs low in Wisconsin

19 December 2014

The State of Wisconsin Investment Board’s $6.9 billion private equity portfolio is among the largest held by U.S. public pensions, but from an asset allocation standpoint, the program is actually smaller than its peers. The state saved several million dollars in investment management fees as a result.

PetroCap, Highland vehicle closing in on $350 mln target

17 December 2014

Highland Capital Management and energy investment firm PetroCap are poised to hit the $350 million targeted for PetroCap Partners II, a private equity joint venture that will invest in small and lower middle market oil and gas projects

ONGC

University of Michigan invests more in ARC Finan cial, EnCap deal

17 December 2014

The University of Michigan Board of Regents has committed roughly $840,000 more to an earlier co-investment in Modern Resources, an oil and gas company owned by ARC Financial Corp. and EnCap Investments, according to university documents released prior to its Dec. 18 meeting.

Cover Stories

Year in Review: M&A exits decline in Q4, but dollar figures rise; PE-backed IPOs stay strong

15 December 2014

U.S.-based financial sponsors saw a lull in exit activity in Q4 by number of M&A exits, but the dollar amount outpaced Q3 despite nearly 50 fewer deals. 

Pay for performance

Buyouts December 8 2014

Public pensions like CalSTRS are scrambling to find the right bonus structure to retain talent.

Fund News

Cyprium reaches $450M in long fundraise after KeyCorp spinoff

19 December 2014

Cyprium Partners has raised $450 million for Cyprium Investors IV LP, a private equity pool launched after the firm spun off from KeyCorp, according to a source familiar with the firm.

Deal News

The PetSmart store in Westminster, Colorado is seen November 18, 2014.

BC Partners-led group kicks in 'low' equity check for PetSmart

17 December 2014

The $8.7 billion sale of PetSmart has been heralded as the year’s largest LBO of an American company, but the buyers, led by BC Partners, are investing 21 to 23 percent of the deal value. Some say this is at the low end of the equity range firms usually kick into their deals.

Fresh Capital

PE allocation keeps costs low in Wisconsin

19 December 2014

The State of Wisconsin Investment Board’s $6.9 billion private equity portfolio is among the largest held by U.S. public pensions, but from an asset allocation standpoint, the program is actually smaller than its peers. The state saved several million dollars in investment management fees as a result.

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Market Intelligence

Market at a Glance

12 December 2014

U.S.-based buyout and mezzanine firms raised an estimated year-to-date amount of $200.2 billion through December 11. That figure is up from $168.7 billion at this time a year ago and has surpassed 2013’s total by nearly a full $10 billion.

Inside the Deal

Looking to raise money from sovereign wealth funds? Make it easier for them

Buyouts - November 10 2014

Sponsors often find foreign governments, including the sovereign wealth funds they oversee, an easygoing source of capital. 

From the Editor

ACG preps for another run at Dodd-Frank with new definition of middle-market funds

04 November 2014

A new definition of middle-market funds established by the Association for Corporate Growth sets the stage for a more targeted lobbying effort to try to ease regulation seen as overly restrictive, such as a provision of Dodd-Frank preventing banks from committing money to most buyout funds. But by leaving some big firms behind, the effort poses the risk of giving the industry a less unified voice in Washington, D.C.