Investors explore crucial aspect of OZ investments: gaining community buy-inPosted: 06/10/2019 |
Subscription Required When Grey Dodge and Erin Gillespie were working in the Florida state government, it was their job to select which of the state’s census tracts would become opportunity zones, offering a series of tax breaks to investors who put their money into real estate or businesses within those zones. As Governor Rick Scott’s time as […] | | Read more... | |
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Jim McCann, who made his fortune with 1-800-Flowers, seeks innovation through family officePosted: 06/07/2019 |
Subscription Required In the 1980s, Jim McCann made his fortune when he took his small floral business and branded it on a national level as 1-800-Flowers, making it one of the first companies to integrate an 800 number into its identity. “If we weren’t out front on things and thinking two or three steps ahead, we would eventually have […] | | Read more... | |
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Emerging Manager Roundup: GenNx360, JAZZ, AllegisCyber and morePosted: 06/07/2019 |
Subscription Required It was a slower fundraising period for emerging managers: 17 of them raised more than $1.4 billion from May 22 through June 5, according to Buyouts data. GenNx360 led all firms. The New York firm’s third fund raised more than $298 million of a targeted $800 million. The fund will target industrial and business services […] | | Read more... | |
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Fresh Profile: Global Realty Capital looks to make an impactPosted: 06/06/2019 |
Subscription Required Kamil Homsi, founder and CEO of Global Realty Capital, sees the U.S. as the best place to invest the wealth of his clients, all of whom are from the six Gulf Cooperation Council countries: Kuwait, Bahrain, the United Arab Emirates, Oman, Saudi Arabia and Qatar. And the reason is very simple. “There are no tax advantages for […] | | Read more... | |
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Texas Municipal upsizes commitment to UpdataPosted: 06/06/2019 |
Subscription Required Texas Municipal Retirement System upsized its commitment to Updata Partners’ flagship fund. The system’s investment of as much as $25 million to Updata VI, which focuses on growth investments in software companies, will apply to its 2018 pacing plan rather than its 2019 PE pacing model, a presentation from its May meeting showed. The move boosted […] | | Read more... | |
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Five Questions with Monument Group’s Bart Molloy on emerging-manager growthPosted: 06/05/2019 |
Subscription Required Bart Molloy is a managing director at Monument Group. He spoke with Active LPs about a rise in emerging managers and the firm’s relationship with independent sponsors. How is the PE sector performing today compared with 25 years ago? [Private equity] remains the most exciting asset class in that it continues to evolve, with increased emphasis on domain […] | | Read more... | |
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LACERS commits $200 mln to PE and venture after increasing pacing targetPosted: 06/04/2019 |
Subscription Required Los Angeles City Employees’ Retirement System at its May meeting reported $200 million in private equity and venture capital commitments, making progress on a planned pacing increase for 2019. The commitments put LACERS on track to meeting a 2019 pacing target of $550 million to $575 million. LACERS hired a new PE consultant, TorreyCove Capital Partners, […] | | Read more... | |
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CAZ Investments eyes coming transformation of car-rental marketPosted: 06/03/2019 |
Subscription Required When Christopher Zook, chairman and CIO of CAZ Investments, recently told Active LPs his firm was betting on Uber stock after its disappointing IPO, he was highlighting one of CAZ’s most prominent themes: transportation. “We love the space,” Zook told Active LPs. “We believe the transport revolution, with rideshare being the most actionable, is a generational […] | | Read more... | |
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Minnesota approves more than $850 mln in PE commitmentsPosted: 06/03/2019 |
Subscription Required Minnesota State Board of Investment at its May 30 meeting approved $852 million to private equity and credit funds spanning the technology and healthcare sectors, its website shows. Board commitments included: $150 million to Apax Partners’ Fund X, targeting $10 billion. Apax’s latest flagship focuses on telecom, global technology, services, healthcare and consumer; €135 million ($151 […] | | Read more... | |
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Rhode Island invests $75 mln in Clearlake Capital and Eureka EquityPosted: 05/31/2019 |
Subscription Required Rhode Island State Investment Commission at its May 29 meeting approved $75 million in private equity commitments spanning the healthcare and technology sectors, the system’s director of communications, Evan England, told Active LPs. The commission pledged $30 million to Clearlake Capital Group’s Opportunities Fund II, targeting $1 billion. The fund will focus on middle-market companies […] | | Read more... | |
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