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.
The past fiscal year has been notable for the record returns generated by some of the top public pension funds in the US and abroad. What’s interesting is that many of these superlative gains were propelled by private equity investments that put even public stock returns in the shade.
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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 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 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.
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.
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.
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.
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.
Last week, U.S. House Financial Services Committee Chair Maxine Waters held a hearing to discuss private equity firms and their role in society.
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.
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.
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.”
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.
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 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 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, 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.
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.
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.
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.
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 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 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.
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.
Private equity firm OpenGate Capital’s Second Institutional Fund raised $585 million versus a target of $450 million.
The enthusiastic support for OpenGate’s second institutional fund came from 23 investors located across seven countries. These included pensions, wealth managers, insurance companies, and asset managers. The fund’s oversubscription of 30% shows the global eagerness to place capital with reputed and focused private equity firms. The second fund is designated “OpenGate Capital Partners II & II-A, LP.”