Two executives from Chicago Growth Partners, which decided to stop raising its third fund earlier this year, have raised more than $350 million for investments in rapidly growing companies, a person with knowledge of the plans said.
Top News & Analysis
Sponsors are making big bets on growth equity this year as a way to avoid pricey LBOs, but analysis of the trend finds there’s no easy way to escape lofty valuations in this emerging area of the dealscape.
Many limited partners claim to adhere to a policy of sticking to core managers. But few have executed on that policy with the level of consistency demonstrated by the Chicago Teachers’ Pension Fund.
The Carlyle Group disclosed $1.9 billion in commitments in less than a year for Carlyle International Energy Partners LP, a buyout pool flagged by co-CEO David Rubenstein as the largest first-time fund in the history of the 27-year-old firm, according to a filing and a source.
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.
The Employees Retirement System of Texas approved a private equity tactical plan that allows for almost $1.2 billion in commitments for the fiscal year ending Aug. 31, 2015, according to a meeting recording available through its website.
In this video from the PartnerConnect Midwest 2014 conference in Chicago, Zach Doehla, director of alternative investments at CUNA Mutual Group, discusses the company’s sector-focused approach to the lower middle market, where it typically commits $10 million to $15 million per fund to 10 or 15 funds per year, with an emphasis on oil and gas, specialty chemicals and materials and technology.
U.S.-based buyout and mezzanine shops collectively secured $119.7 billion in capital commitments from institutional investors through Aug. 1. The latest year-to-date fundraising figure far surpasses the amount raised this time last year, when firms managed to secure $92 billion.
From the Editor
Hawaii beckons as a wonderful spot for a vacation, and an analysis of the state retirement system’s private equity program suggests it is also a good place to raise money. In recent years the state has been ramping up both its commitment pace and average commitment size.
Inside the Deal
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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