The Carlyle Group’s $115 million settlement of a lawsuit that alleged that it colluded with other buyout shops to depress deal prices will be paid through a combination of Carlyle Partners IV fund capital, insurance, balance sheet capital, and contributions from some employees of the firm, an industry source told Buyouts.
Top News & Analysis
Silver Lake may be known more for its technology buyouts, but one of the San Francisco firm’s biggest recent falls into a different category altogether.Teaming up with its platform company William Morris Endeavor, Silver Lake bought sports marketing and talent management firm IMG Worldwide for $2.3 billion late last year. Jim Davidson, Silver Lake managing partner, recently hailed the acquisition as a way to harness IMG’s stable of authors, athletes and other stars that generate popular entertainment and content.
After years of turnover and turmoil that contributed to weak returns, the Connecticut Retirement Plans and Trust Funds’s private equity portfolio appears to have righted course. It is pacing its commitments more judiciously while backing more proven managers.
The Blackstone Group may encounter little difficulty in hitting its $16 billion target for Blackstone Capital Partners VII LP as the new flagship buyout pool hits the fundraising trail, based on strong demand from LPs for key megafunds, two private equity pros told Buyouts.
Business software maker Tibco Software Inc on Sept. 29 said private equity firm Vista Equity Partners would take it private for $4.3 billion in the largest technology buyout this year, according to sister news service Reuters.
The Washington State Investment Board committed roughly $736 million to private equity funds managed by Bridgepoint Capital, Advent International and Roark Capital Group at its Sept. 18 meeting, spokeswoman Liz Mendizabal told Buyouts in an email.
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.
U.S.-based buyout and mezzanine shops secured approximately $143.27 billion in capital commitments in the first nine months of 2014. Fundraising continues to outpace last year, when the year-to-date tally was $114.9 billion.
From the Editor
CVC Credit Partners, the London-based credit arm of CVC Capital Partners, has had preliminary discussions with at least one investor about launching a fund earmarked to buy stressed-but-performing loans on the books of European banks.
Inside the Deal
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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