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Hellman & Friedman raises $10 billion
Private equity giant Hellman & Friedman has raised nearly $10 billion toward its next flagship fund, according to a regulatory filing. It is unclear if this represents a final close for the fund,...
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Exclusive: Chicago Growth Equity vets launch ParkerGale
Earlier this year we reported that private equity firm Chicago Growth Partners had abandoned plans to raise a third fund, and subsequently added that some of the team had hung their own shingle in...
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Dear public pension critics: All alternative investments are not created equal
Hedge funds are considered to be “alternative investments.” So is private equity. And venture capital. And sometimes so is real estate, timber and certain types of commodities. A number of public...
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Wellington gets into pre-IPO game with new fund
Earlier this month, I joked that if a pre-IPO company raises big funding but only refers to its lead backer as a Boston-based institution, its almost certainly referring to Fidelity Investments. But...
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Blackstone kills off controversial private equity fees
The Blackstone Group will no longer charge portfolio companies for services not rendered, as first reported this morning in The Wall Street Journal. Yes, you read that correctly. For years, Blackstone...
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Why Blackstone is getting out of the advisory biz
The Blackstone Group began life in 1985 as an M&A advisory boutique, formed by a trio of former Lehman Brothers bankers. Today Blackstone announced plans to spin off that historical vestige, which...
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Blackstone teases a major change to controversial fees
The Blackstone Group BX is gearing up to raise its seventh flagship private equity fund, with news reports suggesting that it will target around $16 billion. And, for the first time ever, Blackstone...
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Private equity secrecy, revisited
Gretchen Morgenson yesterday wrote a big piece for The New York Times about private equity, essentially arguing that its endemic secrecy does not comport with its reliance on public pension investors....
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TPG Capital finally has a good story to tell investors
Private equity giant TPG Capital had its annual investor meeting last week in San Francisco, and there were two surprises: Attendees were entertained by The Who (rumor had been that it would be Eric...
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Exclusive: Tagg Romney raises $525 million for new private equity fund
Solamere Capital, a Boston-based private equity firm that Mitt Romney joined upon losing the 2012 presidential race, has raised $525 million for its second fund, Fortune has learned. This total does...
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Carlyle Group lays out some collusion case settlement details
The Carlyle Group CGO reported third-quarter earnings this morning, with hedge fund weakness causing a 15% loss in economic net income (before taxes) from Q3 2013. On the upside, the alternative asset...
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Where did all the big buyouts go?
The biggest story in private equity right now isn’t about the deals getting gone. It’s about the ones that aren’t. At issue is an evaporation of leveraged loans, the bank-arranged debt that enables...
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What we won’t learn about Dell tomorrow
Dell Inc. has now been private for more than one year, thanks to a $24.9 billion buyout by company founder Michael Dell and private equity firm Silver Lake. Tomorrow the tech giant will unveil what...
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RedBird Capital finds $618 million, but loses a co-founder
It seems that Gerry Cardinale and Earl Rotman aren’t birds of a feather. Late last year, the two veteran bankers teamed up to form RedBird Capital Partners, a private equity firm that would focus on...
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No, Carl Icahn has not (yet) been vindicated on Dell
Carl Icahn was right about Dell. That’s the sentiment I’ve seen filtering through my Twitter feeds this morning, following a Bloomberg story about how the tech giant is now valued 90% higher than when...
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Exclusive: Blackstone fundraiser leaves for Warburg Pincus
Jonas Agesand has quietly left The Blackstone Group BX , where he had spent the past three years as a London-based managing director of investor relations and business development, Fortune has learned....
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Investors buzz for marijuana-related businesses
Marijuana-related businesses are like most others: They need money to get off the ground, pay the bills and expand. Until recently, money from legitimate sources was tough to come by. But with more...
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Exclusive: Ex-Bain Capital exec scraps plans for new fund
Former Bain Capital executive Andrew Balson has “hit pause” on his plans to create a new private equity firm, Fortune has learned. Balson had left Bain earlier this year, after an 18-year career that...
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California teachers still forced to own rifle-maker, nearly two years after...
Two years ago next month, a deranged young man walked into a Connecticut elementary school and used a Bushmaster AR-15 rifle to kill 26 children and staff members. Shortly thereafter, private equity...
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Why New Jersey investment boss Bob Grady just stepped down
Bob Grady today stepped down as chairman of the New Jersey Investment Council, which oversees investments for the state’s $81 billion public employees. He is a longtime friend and political ally of...
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