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| KKR joins buyout crowd with tech fund |
| KKR has raised approximately $688 million for its first Next Generation Technology Growth Fund, according to an SEC filing.
The vehicle is just the latest step in the buyout behemoth's gradual entry into the tech sphere, as it joins a growing trend of... |
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| | | | | | | The state of the US IPO market |
| Simply put, US PE- and VC-backed IPOs are on track for their worst year since 2009.
Our 2016 US IPO Trends Report breaks down activity and performance of public offerings across sectors, sizes and much more, including tables of notable recent IPOs with revenue figures. The report dives into what induced the lull in offerings—particularly venture-backed debuts—and gives a prognosis of what's to come heading into 2017.
Highlights include: - Trends in average and median IPO sizes
- Proportion of offerings priced within their range
- Metrics of VC-backed startups prior to debut
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| | | | | | | SRS Acquiom gives back with EscrowUP |
| M&A escrow services provider SRS Acquiom has partnered with Pledge 1% to launch EscrowUP, a program that gives a portion of the yield generated from escrow deposits to nonprofit organizations that benefit entrepreneurs. Dealmakers can choose escrows that donate up to 24 basis points of yield per annum while held. The capital comes from SRS Acquiom's profits, and there's no financial consequence on the deal.
The program supports organizations such as Springboard Enterprises, Endeavor, Patriot Boot Camp, Girls Who Code and, yes, Pledge 1%, which helps companies incorporate philanthropy into their business models. |
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| | | | | | | | The Carlyle Group’s Rodney Cohen tells the story of when firm co-founder David Rubenstein met Dr. Dre. [Privcap]
A closer look at India’s ongoing effort to wipe out dirty money by banning the country’s two largest bill denominations. [The New York Times]
CalPERS is considering cutting out GPs altogether and beginning to make direct private equity investments. [Pensions & Investments]
AMC Entertainment, which the Dalian Wanda Group acquired from private equity buyers in 2012, is now the largest theater chain in America. [The Los Angeles Times] |
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| Since yesterday, the PitchBook Platform added: | | 166 Deals | 1328 People | 450 Companies | 9 Funds |
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| 2008 Vintage US Funds-of-Funds |
| | Median IRR | | | | Top Quartile IRR Hurdle Rate | | | | 1.38x Median TVPI | $258M Average Amount Distributed |
| | | | *IRR: net of fees | | 107 Funds in Benchmark » |
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| Teakwood aims to build out HomeSphere |
| | Platform Software | Lakewood, CO | PE Growth |
| Teakwood Capital has made a growth capital investment in HomeSphere, the provider of a B2B lead generation and customer retention platform for the homebuilding industry that's designed to connect distributors with builders. Cypress Growth Capital led a management buyout of the company a little more than a year ago. |
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| | | | | | | Warburg Pincus sponsors Rubicon's acquisition of Top-Co |
| | Oil and Gas Equipment | Edmonton, Canada | Add-on |
| | | | | | | | | Commercial Services | Baltimore, MD | PE Growth |
| LLR Partners has led a $26.5 million investment in eOriginal, a provider of transaction management software specializing in the financial industry. David Reuter of LLR will join the company's board of directors as part of the deal. |
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| Charterhouse closes Fund X below target |
| | Charterhouse Capital Partners has reportedly raised €2.3 billion for its 10th flagship buyout fund, short of the firm's initial €3 billion target. The vehicle is Charterhouse's first since closing Charterhouse Capital Partners IX on €4 billion in 2009. |
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| General Atlantic to exit Too Faced for $1.5B |
| | Personal Products | Irvine, CA | Corporate Acquisition |
| General Atlantic has agreed to sell cosmetics company Too Faced to Estée Lauder (NYSE: EL) in a deal worth $1.45 billion, marking a quick turnaround from an investment made in 2015. Founded in 1998 and expecting net sales of more than $270 million this year, Too Faced is known for using social media to market its products to younger customers. |
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| | | | | | | Concrete exit all set for Anchorage, Littlejohn |
| | Construction and Engineering | West Chester, OH | Acquisition |
| Littlejohn & Co. and Anchorage Capital Group have completed the sale of Contech Engineered Solutions to Quikrete, a manufacturer of concrete and cement mixes; the deal was previously reported to be worth $950 million. Contech is a provider of products for stormwater management, bridge structure and drainage applications that had been backed by Littlejohn and Anchorage since 2012. |
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| | | | | | | Peak Rock unloads Koroseal |
| | Home Furnishings | Fairlawn, OH | Corporate Acquisition |
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| Insight Venture Partners hires COO |
| | New York, NY | Venture Capital |
| Ian Sandler has been chosen as the new chief operating officer at Insight Venture Partners, which makes both PE and VC investments in software and tech companies. Sandler was most recently COO of global equities at Citadel and was previously a partner and COO of the global market strategies division at The Carlyle Group. |
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| | | | | | | Corridor Capital appoints new finance director |
| | Los Angeles, CA | PE/Buyout |
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