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Thursday, 18 September 2014

Lead Story

Photo: Oil derricks are silhouetted against the rising sun Photographed by David Mdzinarishvili for Thomson Reuters. All rights reserved.

Energy Spectrum near two thirds on $1.2 bln Fund VII

16 September 2014

Energy Spectrum Capital is nearly two thirds of the way toward a $1.2 billion target for its seventh buyout fund with commitments from 62 investors and at least one prior top quartile fund boosting its track record, according to a Form D filing and pension fund data.

Cover Stories

cover image 9.15.14

Odyssey Fund IV performance climbs on recent exits

Buyouts - September 15 2014

Odyssey Investment Partners faced the worst economic downturn since the Great Depression when it launched fundraising for Odyssey Investment Partners IV in 2008. But the New York firm led by Chairman Stephen Berger, a leader in the New York political arena, barely missed a beat.

CEO of Olympus-owned company resigns over dog-kicking incident

Buyouts - September 15 2014

Demonstrating how portfolio company problems can quickly become sponsor problems, Desmond “Des” Hague, the Centerplate Inc CEO caught on tape kicking a one-year-old dog in his care, resigned amid a public outcry earlier this month.

Fund News

LPs jostle for position in oversubscribed Vista fund

17 September 2014

The Kentucky Retirement Systems approved a $50 million commitment to Vista Equity Partners’ latest buyout fund at its Sept. 11 board meeting, but it is unclear whether the retirement system will ever actually invest in the fund.

Deal News

Apax investing nearly 43 pct equity in Answers

17 September 2014

Apax Partners is betting big on Answers Corp. The U.K. private equity firm’s acquisition of Answers is valued at $900 million, according to Moody’s Investors Services. This includes $428 million of equity from the sponsor and management, Moody’s said.

Fresh Capital

Kentucky pledges $100 mln to Deutsche Bank secondaries

17 September 2014

The Kentucky Retirement Systems approved a $60 million commitment to Crestview Partners III and a $100 million commitment to Deutsche Bank Secondary Opportunities Fund III at its Sept. 11 meeting, interim Chief Investment Officer David Peden told Buyouts.

Meet the LP: Neha Markle, Morgan Stanley Video

29 August 2014

In this video from the PartnerConnect Midwest 2014 conference in Chicago, Neha Markle, executive director of the Morgan Stanley Alternative Investment Partners PE Fund Group, discusses the firm’s third party fund of funds business, which has more than $35 billion of assets under management, including $12 billion in private equity investments.

Market Intelligence

MARKET AT A GLANCE

Buyouts - September 15 2014

Buyout and mezzanine funds based in the United States have raised $136.3 billion in capital commitments from institutional investors through Aug. 5. Overall fundraising continues to outpace the amount raised this time last year, when buyout and mezzanine funds managed to collect $100.5 billion in commitments.

From the Editor

Thomson Reuters venture capital performance data from 1997 to 2009

LBO funds have been strong performers; venture has momentum

28 August 2014

In picking strategies within private equity, investors largely got it right betting heavily over the last three decades on leveraged buyout funds. That said, venture capital firms have staged a significant comeback since the woebegone years following the Internet bubble, and they could pose competition for dollars in the months ahead.

Inside the Deal

Sanjay Gupta of Adveq

Co-Investments attractive if done for the right reasons

Buyouts - September 15 2014

Co-investing has gained popularity amongst investors who are looking for a stronger alignment of interest, more control and, ultimately, an amplification of the outperformance that is possible through investing in private equity.

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