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There are more than 2,000 private equity managers currently in the market seeking capital, including some of the most prominent funds. With competition becoming ever more fierce, established PE firms run by savvy CEOs such as Stephen A Schwarzman of Blackstone, Henry Kravis of Kohlberg Kravis Roberts & Co, and smaller, though aggressive firms, such as Ted Virtue's MidOcean Partners, remain fiercely driven and keen on honing their competitive edge.
MidOcean Partners, for example, employs a sector-focused investment strategy coupled with a relationship-oriented management methodology. The firm adds value to each portfolio company by providing input into long-term strategic direction, operational
A fund managed by the Private Equity Group of Ares Management is to acquire a significant stake in American Tire Distributors (ATD) making Ares an equal owner alongside existing shareholder TPG.
Terms of the transaction have not been announced and closing is subject to certain conditions.
“This transaction is another significant milestone in ATD’s growth story, and we are proud now to have two very notable investors as our primary shareholders,” says Bill Berry, President and Chief Executive Officer of American Tire Distributors. “The company appreciates the guidance TPG has offered for the past five years, and we look forward
Fund managers and investors are in a tug-of-war over the issue of transparency. Once content with a performance update, basic valuation and general market commentary, Limited Partners (LPs) are now digging deeper, asking more questions and requiring more information from General Partners (GPs) than ever before.
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Fund managers and investors are in a tug-of-war over the issue of transparency. Once content with a performance update, basic valuation and general market commentary, Limited Partners (LPs) are now digging deeper, asking more questions and requiring more information from General Partners (GPs) than ever before.
Executive
Law firm White & Case LLP has advised Novator on its acquisition of a 92 per cent stake in Nextel Chile, the fourth largest telecommunications provider in Chile.
The value of the transaction has not been disclosed. Novator is an alternative investment firm with a portfolio that is focused on four main sectors – telecommunications, pharmaceuticals, IT and renewable energy.
London-based White & Case partner Ian Bagshaw, who led the team which advised on the transaction, says: “Novator is a longstanding client and we were very pleased to support a successful acquisition that is very much in line with
RCP Advisors has acquired Atlas Diligence and their proprietary private equity manager research platform – GPScout.
Atlas Diligence, based in Chapel Hill, NC, provides investors with independent research and unique due diligence tools to assist in the identification and evaluation of private capital fund opportunities. GPScout, a unique subscription based platform, allows limited partners to access Atlas’s library of research and analysis. As a part of the transaction, Atlas Diligence investment professionals have joined RCP Advisors’ investment and research team.
“In Atlas, RCP has chosen a like-minded partner to help expand our team, enhance our investment process and analysis
Advent Capital Management has appointed Matthew Dundon, Managing Director and Portfolio Manager to its alternative investment strategies team.
Dundon will support and collaborate with Advent’s current portfolio managers to identify unique investment ideas across corporate capital structures globally.
“We’re excited to welcome Matthew to Advent and look forward to the complementary skills he’ll bring as we continue to grow, diversify and opportunistically enhance our investment teams,” says Tracy Maitland, President and Chief Investment Officer of Advent. “The volatility in global markets is creating increased investment opportunities and we are adding investment talent to be able to vet more investment ideas
CMS Bureau Francis Lefebvre has appointed four new partners – Alexandre Delhaye, Caroline Froger-Michon, Frédéric Gerner and Claire Vannini.
The firm now has 103 partners out of a total of 380 lawyers.
Alexandre Delhaye, 40, joined CMS Bureau Francis Lefebvre’s Corporate/M&A department in 2001 after working in the M&A department at Gide Loyrette Nouel. Specialising in corporate law and Corporate/M&A, he handles all matters relating to national and transnational transactional operations (M&A, joint ventures, private equity, management packages), complex group restructuring and reorganisation projects, governance, management personnel and shareholder relations. He is a graduate of ESCEM (1995)
Despite optimism about the US economy, endowments and foundations are planning to decrease their allocations to US equities this year in favour of alternatives such as hedge and private equity funds.
That’s according to the Q4 2014 NEPC Endowment and Foundation Poll, a measure of endowment and foundation confidence and sentiment related to the economy, investing and market performance.
“Overall, endowments and foundations feel very confident about the US economy and have a favorable outlook for domestic equity markets this year,” says Cathy Konicki, Partner and head of NEPC’s Endowment and Foundation Practice. “More than three-quarters of respondents feel the
Private equity firm Crestview Partners has closed its latest fund, Crestview Partners III, surpassing its USD3 billion target.
The new fund includes over USD3 billion of third-party limited partner capital commitments and USD250 million in general partner participation, including affiliates. Fund III is Crestview's largest fund raised to date.
Fund III will pursue the same investment strategy on which Crestview was founded in 2004 and has closely followed ever since—namely identifying and investing in companies with a contrarian, value orientation. Crestview's investment strategy focuses on opportunities that arise from market dislocations or through proprietary relationships. The firm typically targets USD100–400
British Business Bank Investments Limited, the commercial arm of the British Business Bank, is investing GBP5 million in Kingsway, a Cheshire-based asset finance specialist.
The investment is expected to increase Kingsway’s leasing capacity by up to GBP10 million.
This investment is the latest in a series of commitments from British Business Bank Investments Limited in the leasing and asset finance space. In October, British Business Bank Investments provided a GBP40 million boost to Staffordshire-based Shire Leasing, which was matched by private sector investment. British Business Bank Investments Limited’s parent company, British Business Bank plc, recently launched its ENABLE programme to
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