Compensation Report
Search League Tables

Tuesday, 07 July 2015

Hot Story

oil, oil well, gusher, worker, oily, spray

Riverstone halfway to $8 bln hard cap on Fund VI

06 July 2015

Riverstone Holdings has raised more than $4 billion toward a $8 billion hard cap it set for its sixth flagship fund, according to a Form D the firm filed with the SEC on July 2.

RSS feed for Top News & Analysis

Top News & Analysis

Retirees fishing in California

Landmark exec Conners retires after 22 years

07 July 2015

Scott Conners, who has been a partner at secondaries firm Landmark Partners for 22 years, retired on June 30, spokeswoman Emily-Jane Finigan confirmed.

Hostess Ding Dongs, snack, cake, chocolate, cream filling

Ding Dong! IPO calling for Apollo-backed Hostess Brands

07 July 2015

Hostess Brands LLC, the U.S. bakery company whose snack cake brands include Twinkies and Ding Dongs, has pulled itself from the auction block because it believes it can command a higher valuation in an initial public offering, according to people familiar with the matter, Reuters reported exclusively.

Great Wall of China, Beijing, China, Asia

China’s efforts to slow IPOs endanger $32 bln of U.S. take-private deals

07 July 2015

China’s move to curb initial public offerings to contain a stock market meltdown could endanger nearly $32 billion worth of deals announced this year by Chinese companies planning to drop their listings on U.S. exchanges and return home, Reuters reported.

Fundraising 2015

Get your Q2 2015 Private Equity slide show

07 July 2015

Download the “Buyouts Insider Q2 2015 Highlights” slide show from the “related files” tab to see the latest trends and statistics in private equity fundraising, deals and exits.

China, Chinese lanterns, Chinese Lunar New Year of the Monkey, 2004

NDE Capital collects $107 mln for Fund II

07 July 2015

NDE Capital has held a first close on $107 million on its second fund for investments in China and Indonesia, according to a person with knowledge of the fundraising.

Genstar's Fund VII could reach $2 bln cap this year

07 July 2015

Genstar Capital, the San Francisco-based middle-market firm that’s been active on the deal front, is expected to draw $2 billion for its oversubscribed flagship fund, Genstar Capital Partners VII, according to sources.

Christopher Ailman, CalSTRS, California State Teachers' Retirement System, CIO

As fundraising soars, CalSTRS prepares PE program for 'hard choices'

07 July 2015

The California State Teachers’ Retirement System is bracing for hard choices as it readies its private equity portfolio for the top of the fundraising cycle, according to an investment plan released by the retirement system in advance of its July 9 meeting.

A man stands in front of "SUPERFLEX, Euro 2012"

Verallia buyout financing on hold after Greek vote

06 July 2015

A 2.2 billion euro ($2.43 billion) loan and bond financing backing the buyout of Saint-Gobain’s glass bottle unit Verallia remains on hold after Greece rejected a compromise with international creditors, bankers said on Monday, Reuters reported.

China, chinese, flag, 2008 Olympic Games

Blackstone hires Liping Zhang as Greater China chairman

06 July 2015

Blackstone Group LP announced that it has hired Liping Zhang as its chairman for Greater China as private equity deals boom in the region, confirming an earlier Reuters story.

MAGnumbers_07132015

Market at a glance

06 July 2015

U.S.-based buyout and mezzanine fundraising slowed over the past two weeks, after starting the year at a break-neck pace. The 2015 total went up by $4 billion, to $118.2 billion. As it stands, this year’s aggregate sits nearly $15 billion ahead of where it was a year ago.      

Source of Capital by Investment Type

Chart of the week: Public pensions account for 26 percent of money raised in 2014 by these placement agents

06 July 2015

In a spring survey conducted by Buyouts Insider, 14 placement agents that raised a combined $12.7 billion last year weighed in on where their money came from. Public pension funds was the largest contingent, at 26 percent; the “other investors” category, including sovereign wealth funds, came in second with 18 percent; and endowments/foundations came in third with 12 percent. 

Greece, Greek, drama, tragedy, comedy, actor, actress

Private equity sheds few tears over Greek tragedy

02 July 2015

The drama unfolding in Greece hasn’t captured the attention of private equity, which has little exposure to the financially troubled country. Still, some investors are looking for chances to buy assets on the cheap.

smash, clobber, bricks, break, martial arts

Cargill's CarVal shatters target for third credit fund

02 July 2015

CarVal Investors closed on $3 billion for its third credit fund, capping off an effort that began in early 2014, after the unit of agribusiness giant Cargill expanded its team with an ex-Goldman Sachs executive and several others.

floodlights, lights, Panathenaic Stadium, Athens, Greece

Searchlight Capital nears $1 bln first close

02 July 2015

Searchlight Capital Partners is nearing a first close on its second fund on around $1 billion, which gets it close to its $1.5 billion target, according to a person with knowledge of the fundraising.

Scorecard, score card, golf

LP Scorecard: These 10 young funds are off to a fast start for Washington State

02 July 2015

Advisory shop Pantheon Ventures last fall released a study of buyout fund returns showing that a “deep J-curve, relative to vintage peers,” signals that a fund is more likely to be bottom-quartile than top-quartile.

Mountain of money, cash, dollar signs, pile of money, U.S. dollars, $

Harvest Partners to target $1.5 bln for next flagship fund: Updated

01 July 2015

Harvest Partners is talking to limited partners about its next flagship fund, targeting $1.5 billion, according to three people with knowledge of the firm.

popcorn, circus, Cole Brothers Circus of the Stars, snacks

TA seeks buyer or IPO for SkinnyPop

01 July 2015

TA Associates, which is reportedly nearing the close of its 12th flagship fund, is running a dual-track process for SkinnyPop Popcorn LLC, sources said.

Indiana

Indiana bets $90 mln on energy with GSO, EnCap investments

01 July 2015

The Indiana Public Retirement System committed $90 million to energy-related private equity in April and May.

cardinal, red bird

TPG exec flies to RedBird Capital

01 July 2015

RedBird Capital Partners has hired former TPG Capital executive Jason Young as its chief financial officer and chief compliance officer.

Source of Capital by Geography

Chart of the week: United States accounts for more than half of money raised by these placement agents

01 July 2015

The United States accounted for more than half the money raised by 14 placement agents that raised a combined $12.7 billion last year, according to a survey conducted this spring by Buyouts Insider (see accompanying chart). Europe came in second place at 19 percent.

kid, boy, question, question mark, curious, wondering, unsure, uncertain, uncertainty

Co-investing conundrum: Good idea or too risky?

Buyouts - June 29, 2015

Limited partner interest in co-investments and direct investments fell off a cliff in the second half of 2014, according to Preqin survey data. The percentage of investors who categorized themselves as active co-investors fell to 18 percent, roughly half of what it was six months earlier.

Chicago, Illinois, windy city, skyline, Midwest U.S., gold, golden, all the glitters is gold, city of gold

Midwest buyout shops seize golden opportunity

Buyouts - June 15, 2015

Our regional report on Midwest buyout deals and fundraising shows Illinois and Minnesota are prime destinations.

Income inequality, pay, wages, protest, debate, hourly wage, fast food, McDonald's

LPs wade into income inequality debate

Buyouts - June 1, 2015

“It’s not a minimum wage, it’s a starving wage.” New York City Comptroller Scott Stringer paused for a round applause from the 15,000 protestors crowded on the north side of Columbus Circle in Manhattan. “If you raise the wage to $15 [an hour] you will pump $10 billion into the hands of 1.5 million struggling New Yorkers. This makes economic sense for our city. Do you agree?”

Deval Patrick, Massachusetts, governor

Impact investing: Deval Patrick wants to leave a mark at Bain

Buyouts - May 18, 2015

A growing number of limited partners want their private equity investments to do more than make money. They also want them to do good.

David Brackett, GE Antares CEO

GE Antares sale will shake up middle-market lending

Buyouts - May 4, 2015

COVER STORY: The pending sale of General Electric Co’s massive GE Antares unit will likely determine the top player in the growing middle-market sponsored finance business. The deal for the marquee lender has been attracting strong interest at an expected price tag of at least $16 billion.

Whistleblower, whistle, blow, whistling

Blowing the whistle: Former employee's suit against TPG invokes whistleblower provision in Dodd-Frank

Buyouts - April 20, 2015

TPG Capital’s legal fight with its former spokesman, Adam Levine, may seem a bit lopsided.

tortoise, Buyouts cover

Q1 2015 in review

Buyouts - April 6, 2015

Here’s a quick guide to our coverage of Q1 2015 deals, exits and fundraising.

Deal News

Greece, Greek, drama, tragedy, comedy, actor, actress

Private equity sheds few tears over Greek tragedy

02 July 2015

The drama unfolding in Greece hasn’t captured the attention of private equity, which has little exposure to the financially troubled country. Still, some investors are looking for chances to buy assets on the cheap.

Fundraising 2015

Get your Q2 2015 Private Equity slide show

07 July 2015

Download the “Buyouts Insider Q2 2015 Highlights” slide show from the “related files” tab to see the latest trends and statistics in private equity fundraising, deals and exits.

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.

money, cash, dollars, pile, currency, U.S., profit, funds, Benjamin Franklin, $100 bills, pay, payoff

Get your 2015 employee compensation data here!

20 April 2015

Looking for great employee compensation data? If you take part in this year’s Holt-MM&K-Buyouts Insider PE/VC compensation survey, you will get a FREE executive summary, plus a 35 percent discount off the cover price if you purchase the full report.

Digital Edition

To read a digital copy of our latest magazine click here.

Forget your password or want to learn more about Buyouts? Please click here to email Bob Raidt.

Cover Story

kid, boy, question, question mark, curious, wondering, unsure, uncertain, uncertainty

Co-investing conundrum: Good idea or too risky?

Buyouts - June 29, 2015

Limited partner interest in co-investments and direct investments fell off a cliff in the second half of 2014, according to Preqin survey data. The percentage of investors who categorized themselves as active co-investors fell to 18 percent, roughly half of what it was six months earlier.

RSS feed for Talking Top Quartile

Talking Top Quartile

T.J. Maloney, chairman and CEO, Lincolnshire Management

Talking Top Quartile with T.J. Maloney of Lincolnshire Management

Buyouts - June 29, 2015

The vintage 2004 Lincolnshire Equity Fund III notched an internal rate of return of 34.7 percent for the Teachers’ Retirement System of the City of New York as of Dec. 31, 2013, the date used in an annual analysis of public pension fund data by Buyouts. The IRR beat the top-quartile threshold of 22.2 percent and the median of 12.9 percent for that vintage.

Market Intelligence

MAGnumbers_07132015

Market at a glance

06 July 2015

U.S.-based buyout and mezzanine fundraising slowed over the past two weeks, after starting the year at a break-neck pace. The 2015 total went up by $4 billion, to $118.2 billion. As it stands, this year’s aggregate sits nearly $15 billion ahead of where it was a year ago.      

From the Editor

Chris Witkowsky

As CalPERS trims exposure to private equity, should GPs be worried?

Buyouts - June 29, 2015

If you’re a GP, you might be somewhat worried by recent word out of California that a certain pension is cutting back its private equity exposure.

Stock broker, stressed out, stress, falling prices

Valuations rebound to near pre-crisis levels, putting pressure on sponsors

01 July 2015

Brooks Zug, senior managing director and co-founder of funds-of-funds manager HarbourVest Partners, this spring told an audience of deal-makers about a buyout opportunity some of his associates had recently pitched with a price tag of 23.5x of trailing EBITDA

Kelly Rodrigues of Pensco Trust

Need to Meet: Kelly Rodriques, CEO, Pensco Trust Co

Buyouts - June 29, 2015

As CEO of Pensco Trust Co, Kelly Rodriques figured the success of online brokers such as E-Trade could point the way for more rapid transactions in the private funding space for individuals with closely held shares in their IRAs, as well as sponsors on the fundraising trail.

William Spiegel

Five Questions: William Spiegel, founding partner and managing director, Pine Brook

Buyouts - June 29, 2015

1. What’s your thinking at Pine Brook around deal-making in the financial sector as it faces an evolving regulatory environment?