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Tuesday, 02 September 2014

Lead Story

Money

CalSTRS pledges $785 mln in second quarter

28 August 2014

The California State Teachers’ Retirement System committed roughly $785 million to co-investments and private equity funds, including $275 million to buyout funds, from April 1 to June 30, according to a semi-annual report released in advance of its scheduled Sept. 5 investment committee meeting.

Cover Stories

Billy Lemmons of EnCap Flatrock Midstream

Vintage 2009 takes place among best performers

02 September 2014

It wasn’t a great year to try to raise a fund. But 2009 was a heck of year to start investing one.

Yucaipa yet to close on Connecticut's 2013 pledge

27 August 2014

Grocery story magnate Ron Burkle has had some fantastic successes during his career. But his investment firm is marketing Yucaipa American Alliance Fund III to investors on the back of a track record that has not always stacked up well against those of other buyout firms.

Fund News

Crestview collects $2.4 bln on Fund III

01 September 2014

Crestview Partners, the buyout firm founded by two Goldman Sachs private equity executives in 2004, is closing in on its $3 billion target, according to a person with knowledge of the fundraising.

Deal News

Exits, Q2 2014

17 July 2014 | Updated: 22 April 2014

Download the “Q2 2014 Exits” table from the Related Files tab below to see the full list of all M&As and IPOs by U.S.-based financial sponsors in the second quarter of 2014.

Fresh Capital

Regal joins family office Briar Hall

Buyouts - September 1 2014

Mark Regal, former partner in the Credit Suisse Customized Fund Investment Group, now part of Grosvenor Capital Management, has joined family office Briar Hall in Chicago as director of investments.

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 9.1.14

MARKET AT A GLANCE

Buyouts - September 1 2014

Fundraising by U.S.-based buyout and mezzanine shops has topped $128 billion for the year through Aug. 15. Recently, Veritas Capital beat its $1.5 billion target for Veritas Capital Fund V LP with $1.9 billion in capital commitments. The fund was significantly oversubscribed and had only one close.

From the Editor

Performance of domestic venture capital on the mend

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

Béla Szigethy and Stewart Kohl of The Riverside Company

Eleven lessons learned, from 25-year-old Riverside Co

Buyouts - August 11 2014

The Riverside Company has enjoyed a lot of success since our founding in 1988 by finding great little companies and making them bigger and better. We’ve sold more than 100 companies in our history, and collectively we grew them more than 2.5x in size during our ownership. We adore smaller companies because there are more ways to improve them, making the upside much greater. It’s been a good run and we’re working harder than ever to keep it going for another 25 years in our-fast changing, hyper-competitive world.

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