Fresh Profile: Foundation Holdings targets FOs, HNWs for GCC, India-focused investmentsPosted: 05/24/2019 |
Subscription Required Abhishek Sharma, founder and CEO of Foundation Holdings, the Dubai investment firm focused on the GCC region and India, sees the 2008 financial crisis as a learning experience for family offices in the region. “It created a severe dent in the trust across the entire system,” Sharma wrote to Active LPs in response to questions. […] | | Read more... | |
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PA PSERS backs credit and PE funds from Bain, Incline Equity, Hahn & Co.Posted: 05/24/2019 |
Subscription Required Pennsylvania Public School Employees’ Retirement System approved $425 million in private equity and private credit commitments, documents from its May meeting show. The board committed $75 million to Incline Equity Partners’ Elevate Fund, targeting $300 million. The pool focuses on the lower-middle market and invests in distribution services, business services and specialized light manufacturing sectors. PA PSERS previously committed […] | | Read more... | |
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Family office OZ investments face a time crunchPosted: 05/23/2019 |
Subscription Required During a panel at Buyout Insider’s Family Office Connect conference on May 22, Kamil Homsi, founder of Global Realty Capital, said investors had not been given enough time to fully understand Opportunity Zone investments and meet looming deadlines, and that efforts were already underway to extend the program to 2032. Homsi was asked about how […] | | Read more... | |
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Tricor Pacific closes first deal of new strategy, buys welding-parts maker RockmountPosted: 05/23/2019 |
Subscription Required Tricor Pacific Capital wrapped up the inaugural deal of its new diversified investments strategy, acquiring a provider of maintenance welding solutions. The Canadian family office bought Rockmount Research & Alloy, a Vancouver, Washington, maker and distributor of branded consumable industrial welding-alloy tools and accessories. Terms weren’t disclosed for the deal, which was finalized in March. […] | | Read more... | |
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Ohio P&F backs Stone Point’s latest flagshipPosted: 05/23/2019 |
Subscription Required In its effort to slow down private-market commitments this year, Ohio Police & Fire Pension Fundat its May meeting backed only one PE fund. The board recommended a $20 million commitment to Stone Point Capital’s Trident VIII fund. The pool, hard-capped at $6.5 billion, focuses on financial services in North America and Western Europe. Ohio P&F […] | | Read more... | |
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Emerging Manager Roundup: Trott’s BDT, Old Ironsides, Butterfly, NFX and morePosted: 05/23/2019 |
Subscription Required Call it a fundraising frenzy. 22 emerging managers raised more than $9.4 billion from May 8 through May 22, according to Buyouts data. BDT Capital was most responsible for the surge. The firm, founded by former Goldman Sachs banker Byron Trott, raised $6.3 billion for its third fund. The Chicago firm is reported to target […] | | Read more... | |
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Investors gauge FO interest in opportunity zonesPosted: 05/22/2019 |
Subscription Required Amid the excitement over Opportunity Zones at the second day of Buyouts Insider’s Family Office Connect conference in New York, some doubts about OZs as they are currently constituted seeped in. Chris Milner, head of real estate investment management for Cantor Fitzgerald, mentioned his firm’s joint OZ venture with Silverstein Properties, but said his firm now […] | | Read more... | |
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Broken-deal and other fees: How PE, families work with independent sponsorsPosted: 05/21/2019 |
Subscription Required When family offices and private equity firms work with independent sponsors, one question that arises is who pays broken-deal fees. The answer seems to be — not family offices, according to a panel discussion at Buyouts Insider’s Family Office Connect conference in New York on May 21. While FOs are not likely to pay dead-deal fees, […] | | Read more... | |
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Fresh Profile: Cordish Private Ventures balances between LP stakes and directsPosted: 05/21/2019 |
Subscription Required Family offices usually result from families selling off profitable businesses. Cordish Private Ventures, founded in 1998, is different — it is just one part of Cordish Cos, a family enterprise still active in its core real-estate-development business, as well as gaming and sports-anchored entertainment. Moreover, while many FOs seek more direct investments, Cordish focuses mostly on […] | | Read more... | |
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Multifamily office CAZ boosts transport strategy with Uber stock betPosted: 05/20/2019 |
Subscription Required CAZ Investments, a multifamily office with about $1.3 billion under management, earlier this month made a play on Uber’s stock. “We had not invested in the private markets, but based on the dislocation that occurred post the IPO, we [initiated] a position in Uber in one of our vehicles,” Chairman and CIO Christopher Zook told Active LPs. Uber […] | | Read more... | |
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