Private Equity
Global private equity firms are sitting on more than $2.1 trillion in “Dry Powder.” Their investment decisions and purchasing power will shape the public and private investment markets in ways that shape the future of the global economy. DailyAlts provides constant updates and insights on deal-making, regulatory shifts, global capital flows, and more.
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The monthly transaction report from the $280 billion New York State Common Retirement Fund showed an investment outlay of more than $4 billion in June. Significantly, and in a sign of the times, more than 75% of that was plowed into alternatives such as real estate ($2.2 billion) and private equity funds (over $1 billion).
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More Stories on Private Equity
Hedge Funds Blink; Private Equity Firms Free to Take Control of Inmarsat
A tense stand-off between activist hedge funds and private equity giants over British satellite company Inmarsat ended up a damp squib.
Activists Oaktree, Kite Lake and Rubric Capital had a change of heart overnight and withdrew their opposition to a deal that would hand over control of Inmarsat to private equity players.
As a result, a judge in London cleared the decks for a private equity group led by Apax and Warburg Pincus to take over Inmarsat in a $ 6 billion deal.
KKR European Fund V Details
The KKR European Fund V will focus on buyouts in Western Europe. The company announced this week that it has raised more than €5.8 billion from investors. In addition, the company will provide about $400 million of its own money.
Dyal Raises Largest Fund Ever For Buying Stakes in PE Companies
Dyal Capital received a record commitment of over $9 billion for its Fund IV, with heavy oversubscription reached during the final hours. Dyal is a division of Neuberger Berman and specializes in acquiring minority interests in leading institutional private market firms.
GLP’s New Income Fund to Target Chinese Logistics Assets
GLP is launching its new RMB15bn (US$2.1bn) Chinese logistics fund. The GLP China Income Partners Fund will focus on properties generating a stable income stream and recycle capital. GLP is a global investment manager, and business builder in logistics, real estate, infrastructure, finance, and related technologies.
KKR Expects Lower Returns and Economic Growth
The KKR economic outlook arrived in late October. Following a holiday week, let’s take a look at the report. Henry McVey, the Head of Global Macro and Asset Allocation, has a few important things to say about the road ahead.
Private Equity Giant Carlyle Group’s Latest Windfall: SBI Cards
The SBI Cards IPO will be the largest public offering in India this year. On November 27, the company filed its draft prospectus but failed to provide any valuation insight. No matter for one of the biggest winners in this deal – which could raise $1.25 billion: Private equity giant Carlyle Group.
Private Equity Firm Warburg Pincus to Raise $1.5 Billion India-Focused Fund
An India-focused private equity fund is coming to the markets. PE s Warburg Pincus announced plans to raise $1.5 billion for its first fund centered around India. Reuters reported that the company is bullish about opportunities in the country.
Real Estate Private Equity Firm Raises $540.8 Million
Green Courte Partners specializes in niche real estate investing.
Think airport parking. Leased land communities. Senior housing. Green Courte Partners is a private equity real estate investment firm that builds top-flight companies operating within special, niche real estate sectors. Green Courte Partners has just closed its fifth investment fund, Green Courte Real Estate Partners V, LLC (“GCREP V”), with total capital commitments of $540.8 million.
Maxine Waters Takes On The Private Equity Industry
Last week, U.S. House Financial Services Committee Chair Maxine Waters held a hearing to discuss private equity firms and their role in society.
Here’s What Private Equity Giant Blackstone Group is Doing With It’s Money
Blackstone Group investments are always an interesting subject. The private equity and alternative asset management behemoth Blackstone has had a very successful fundraising year in 2019.
InvestIndustrial’s Seventh Private Equity Fund Raises €3.75 billion
Industrial group-turned private equity firm InvestIndustrial overshot the target of €3 billion for its seventh fund.
InvestIndustrial, founded in 1990 out of an industrial group, is a leading European investment firm. It focuses on buyout opportunities amongst medium-sized Southern European companies that are leaders in their fields.
Lawmakers Trash Private Equity Report by Ernst & Young
Sen. Elizabeth Warren, Sen. Bernie Sanders, and other lawmakers call a report by Ernst & Young a result of “sham research.”
In a hard-hitting letter to Ernst & Young, the lawmakers alleged the private equity industry was fighting their Stop Wall Street Looting Act of 2019 “at every turn.”
Two Sigma Enters Private Equity with Sightway Capital Fund
Sightway Capital, the new private equity arm of Two Sigma, announced the final close of a new fund. The Sightway Capital I fund will center around building companies in financial services and real assets.
Here’s What’s in the Apollo Management 13-F
The Apollo Management 13-F reveals what the private equity and alternative investment firm bought and sold in the third quarter.
While we cannot see or benefit from their private holdings, they do have an active public securities portfolio and many of the same valuation techniques they use for private equity purchases are also used to select investments in public securities.
HarbourVest Closes Fifth Fund at $3 Billion
HarbourVest Partners announced it has closed its latest fund at $3 billion. The private equity shop announced the HarbourVest Partners Co-Investment Fund V at oversubscribed. its original target was $2.5 billion.
The Blackstone Group 13-F Recap for the Third Quarter
The Blackstone Group 13-F for the third quarter emerged this week. While we cannot see the private company holding of Blackstone in these filings, we can see what publicly traded securities they own.
H.I.G. Capital Raises $3 Billion for New Fund in Less Than Four Months
H.I.G. Capital, the Miami buyout shop, has raised more than $3 billion for its new LBO fund. In less than four months, the firm completed a raise for its H.I.G. Middle Market LBO Fund III.
Here’s The Third Quarter KKR 13-F
The KKR 13-F emerged last week. Managers must submit 13-Fs every quarter. These forms list all the securities they own for themselves and their investors.
Buyout Shop Warburg Pincus Sells Accelya to Vista Equity Partners
Warburg Pincus has sold European airline services giant Accelya to private equity giant Vista Equity Partners. Multiple reports valed the deal at €1.5 billion.
Taylor Swift Draws Private Equity Giant Carlyle into Her Music Spat
Tay Swift’s appeal for help has put Carlyle in the cross-hairs of both her fan following and Sen. Elizabeth Warren.
In emotionally charged posts on Tumblr, pop star Taylor Swift laid bare her grouses against her former music label Big Machine Label Group.
Celebrity media manager Scooter Braun’s holding company Ithaca owns Big Machine. Private Equity giant Carlyle helped finance Ithaca’s acquisition of Big Machine.
Whoa… Primavera Capital Raises $3.4 Billion China Fund
Primavera Capital Group has raised $3.4 billion for its Primavera Capital Fund III. This is the second-largest close ever by a domestic manager with a focus on China. The record belongs to Boyu Capital Fund IV at $3.6 billion.
Neuberger’s ESG Investing to Include Small Japanese Companies
Neuberger Berman, a US private equity firm, is creating a niche ESG fund focused on small Japanese firms.
Neuberger Berman is looking at small (also mid-sized) Japanese companies because they have a lot of ESG catch-up to do.
Compared to similarly-sized companies in the US or Europe, smaller Japanese companies are lagging at ESG practice and reporting.
Is Private Equity Giant KKR Buying Walgreens Boots Alliance?
Is KKR buying Walgreens Boots Alliance? Based on a new buyout proposal, the answer could be “yes.” The private equity giant has put together a $70 billion proposal that would take the pharmacy benefits firm private.
Blackstone Group is Getting into the Dating Game
MagicLab, a developer of dating and social networking apps, has a new beau. Private equity giant Blackstone Group is buying a $3 billion stake in the company. MagicLab’s properties include Bumble and Badoo.