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Competition for dollars raised from investors has never been higher with more than 2,200 funds currently seeking to raise an aggregate amount of USD780 billion, according to a report by secondaries adviser and placement agent Cebile Capital.
The average size of funds in the market is declining from USD782 million in 2013, to USD543 million in H1 2015, and almost 80 per cent of US GP's currently fundraising are looking to raise less than USD500 million. In this climate, private equity funds of USD500 million or less in size face numerous challenges raising capital.
The report is based on
Palamon Capital Partners has appointed Katherine Ireland (pictured) as an Associate Principal.
Ireland joins Palamon having earned her MBA from Harvard Business School in 2015. She was previously an Associate in the London-based investment team at Centerbridge Partners with responsibility for managing European distressed credit and private equity investments. Ireland began her career at Goldman Sachs International as an Analyst where she advised European industrial companies on strategy and financing. In addition to her graduate degree, Ireland earned a BA in Economics and History magna cum laude, Phi Beta Kappa, from Williams College, Massachusetts. She now serves on the board of the Center
Littlejohn & Co, a private investment firm based in Greenwich, Connecticut, has appointed Jordan Tongalson as Principal and Head of Business Development.
Brian Ramsay, President of Littlejohn, says: “In this newly-created position, Jordan will be leading the initiative to enhance, augment, and extend our deal sourcing relationships and efforts. He has direct involvement with our investment sectors and portfolio companies and brings over 15 years of experience that combine business development, M&A and private equity skills, as well as successful hands-on operating experience. These unique characteristics will enable us to open new avenues to deploy capital in attractive investment opportunities.”
Several top US alternative investment managers are poised to boost investments in energy and natural resources sectors, according to Fitch Ratings.
However, given the uncertainty about how long downward pressure will remain on energy and commodity prices, there is the potential that Fitch-rated alternative investment managers may overextend into energy and natural resource risks at the wrong time. While the direct investment risk would be largely borne by fund investors, alternative managers that have material missteps could experience reduced fee generation, impaired balance sheet co-investment and reputational damage. As a result, future fundraising may be affected.
The collapse of
This recent factsheet from Preqin takes a detailed look at the hedge fund industry in France, including the strategy and structure preferences of investors, the number of hedge fund launches each year, fund terms and conditions, the largest hedge fund managers and performance.
View the full factsheet here.
Perella Weinberg Partners (PWP) has formed a strategic advisory board which will provide the firm’s management team with strategic advice on key industry and business-related matters.
The seven initial members of the Advisory Board are: Walter Isaacson, Aspen Institute President and CEO; Jorma Ollila, former Royal Dutch Shell Chairman; Robert Pozen, former Fidelity Investments Vice Chairman; Ivan Seidenberg, former Verizon Communications Inc. Chairman and CEO; Jane Sherburne, former Senior Executive Vice President and General Counsel for BNY Mellon; Daniel Yergin, IHS Vice Chairman; and Robert K Steel, PWP CEO.
“As we approach the next ten years of the firm’s
Community Intervention Services (CIS), a portfolio company of HIG Growth Partners, has completed the acquisition of Northstar Psychological Services (NPS).
CIS was established by HIG in partnership with behavioural healthcare executive Kevin Sheehan, to acquire, develop and operate a national network of specialised behavioural health treatment facilities and programs. NPS marks CIS's seventh acquisition and further expands the Company’s geographic footprint into Georgia.
Headquartered in Alpharetta, GA, NPS was founded in 2000 and has since grown into a leading provider of community-based behavioural health services to individuals and families across Georgia. Over its 15-year operating history NPS has developed
Middle marker private equity firm Wynnchurch Capital has sold Wolverine Advanced Materials to ITT Corporation for approximately USD300 million. Wynnchurch generated a return of approximately 4.0x multiple of invested capital on its investment in Wolverine.
Headquartered in Dearborn, Michigan, Wolverine is a global leader in developing and manufacturing proprietary products for automotive braking systems and highly engineered sealing solutions for harsh operating environments across a range of industries. Over the past 80 years, Wolverine has built a reputation for quality, innovation and thought leadership in material sciences. Through customer-focused innovation, Wolverine developed the largest portfolio of specialty elastomer material constructions
The Royal Bank of Scotland (RBS) and Investec Bank have closed the syndication for a GBP400 million senior secured acquisition facility, which funded the purchase of a portfolio of UK solar projects owned by funds managed by Octopus Investments (Octopus).
The portfolio consists of 74 operational, UK-based ground mounted solar projects that Octopus acquired from Lightsource Renewable Energy Ltd, the project developer.
Diversified across the south east and west of the United Kingdom, the solar projects attract 20 year fixed income tariffs under the UK Government’s Renewables Obligation (RO) subsidy regime and the 522MWp portfolio generates enough green energy
Mid-market private equity firm LDC has exited its minority investment in global managed service provider Easynet following completion of its acquisition by Interoute.
LDC backed the original buyout of Easynet from BskyB in 2010, working alongside management to build the UK’s leading independent provider of managed networking, hosting and cloud integration services.
It reinvested as part of Equistone Partners Europe’s simultaneous acquisition of Easynet and MDNX Group in 2013, a deal which created the largest independent network and hosting integrator in Europe.
The sale to Interoute delivers a money multiple of 2.2x for LDC.
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