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Saturday, 30 August 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

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.

Tech ranks as most popular non-control deal sector while energy gains favor

Mega-growth-equity deals stomp onto scene

Buyouts - August 11 2014

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.

Fund News

Brazil’s NEO Investimentos targets foreign capital

25 August 2014

NEO Investimentos, a Brazilian-based GP, is raising its third fund and targeting international limited partners for the first time, according to two people with knowledge of the process, as well as regulatory documents.

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

Illinois Teachers' commits $100 mln to NGP XI

28 August 2014

The Illinois Teachers’ Retirement System pledged $100 million to the latest fund from NGP Energy Capital Management, bringing its NGP Natural Resources XI LP fund closer to its target of $4.5 billion, or a hard cap of $5 billion.

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 8.11.14

MARKET AT A GLANCE

Buyouts - August 11 2014

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

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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