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Saturday, 20 September 2014

Lead Story

Photo: Oil derricks are silhouetted against the rising sun Photographed by David Mdzinarishvili for Thomson Reuters. All rights reserved.

Energy Spectrum near two thirds on $1.2 bln Fund VII

16 September 2014

Energy Spectrum Capital is nearly two thirds of the way toward a $1.2 billion target for its seventh buyout fund with commitments from 62 investors and at least one prior top quartile fund boosting its track record, according to a Form D filing and pension fund data.

Cover Stories

cover image 9.15.14

Odyssey Fund IV performance climbs on recent exits

Buyouts - September 15 2014

Odyssey Investment Partners faced the worst economic downturn since the Great Depression when it launched fundraising for Odyssey Investment Partners IV in 2008. But the New York firm led by Chairman Stephen Berger, a leader in the New York political arena, barely missed a beat.

CEO of Olympus-owned company resigns over dog-kicking incident

Buyouts - September 15 2014

Demonstrating how portfolio company problems can quickly become sponsor problems, Desmond “Des” Hague, the Centerplate Inc CEO caught on tape kicking a one-year-old dog in his care, resigned amid a public outcry earlier this month.

Fund News

The Banc Funds Co up to $388 mln on Fund IX

19 September 2014

Its sixth and seventh funds got hit hard by the financial crisis, but an otherwise strong track record has propelled The Banc Funds Company LLC to $388 million on its ninth fund.

Deal News

In rare deal, Thoma Bravo taking Compuware private for 12.8x EBITDA

19 September 2014

With a much lower number of take-privates this year by sponsors, the outlook hasn’t gotten much brighter lately as the U.S. equities market’s unending rally continues to push up prices of public companies.

Fresh Capital

NJ discusses payment options in collusion case

19 September 2014

Private equity firms that have agreed to settle in a wide-reaching collusion case likely will pay their settlements through some combination of insurance, fund capital or balance sheet capital, Chris McDonough, director of the New Jersey Division of Investment, said.

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

Buyouts - September 15 2014

Buyout and mezzanine funds based in the United States have raised $136.3 billion in capital commitments from institutional investors through Aug. 5. Overall fundraising continues to outpace the amount raised this time last year, when buyout and mezzanine funds managed to collect $100.5 billion in commitments.

From the Editor

Thomson Reuters venture capital performance data from 1997 to 2009

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

Sanjay Gupta of Adveq

Co-Investments attractive if done for the right reasons

Buyouts - September 15 2014

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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