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We’re now in what seems like day 2000 of the partial government shutdown. Hubsters, I don’t have children but many of you do. How do you handle temper tantrums?
 
Henry McVey, KKR's head of global macro and asset allocation, says public equities are now pricing in a recession, with liquid credit not far behind. According to his report, "The Game Has Changed," McVey said that for the first time in three years, he is now moving to an overweight position in public equities, including the U.S. 
 
KKR is also cutting leveraged loans overweight to zero, he said. "After over two years of leaning-in to Leveraged Loans as a pure play idea, we are reducing this overweight to zero from three percent and a benchmark weighting of zero," McVey said in the report. "Leveraged Loans have had a great run in recent years, as their floating rate feature and strong technical flows have served this asset class well, particularly relative to High Yield." See more of the report here.
 
Dividends: Yesterday, I asked your thoughts, Hubsters, about dividend recaps and whether they were worth the trouble. Here are a couple of the responses.
 
Leonard said: “Recaps are an important selling point for any strategic exec. They must know there’s a workload associated with it. They universally love [the] thought of actually being able to have some liquidity before the end of a 5-7 year hold.”
 
David, who works at a PE pledge fund, said: “Recaps works fine for us in the smaller segment, but clearly you need a bank that want to play the game. It doesn’t make sense to keep the capital in the company (unless it can be used for growth, add-ons, etc.) just because LP’s will not ‘accept’ it! And why sell a business if you can hold it for another 3-4 years and make additional 2-4x MM on top of the 2-4x MM you take out when doing the recap. In other word, keep a good business and recap it continuously. The only problem is that the traditional PE doesn’t allow that with closed-end funds. You may, however, face two problems as traditional PE: 1) LP’s want capital gains and not dividends for tax reasons and 2) to avoid dividends you have to sell the company to oneself in a new Newco structure, which is typically not allowed in your LPA. So be your own LP and problem is solved…but difficult when/if you want to think big!”
 
Milana Vinn, our brand spanking new Buyouts reporter, has a story on SFW Capital. Just a few months ago, SFW posted a whopping return, nearly 9x, on its sale of Spectro Scientific. The firm has now made back most of its investment in Gerson Lehrman Group, which paid out a dividend. See here story here.
 
Deals: Eddie Lampert has made a revised $5 billion bid to save Sears from liquidation, CNBC is reporting. The new offer includes Lampert assuming tax and vendor bills incurred since Sears' October bankruptcy, the story said. Sears rejected Lampert’s $4.4 billion offer.
 
Oaktree Capital Management LP is investing $450 million in Watco Cos for a non-controlling stake. Watco, of Pittsburg, Kansas, is a transportation company. Read our brief here.
 
Funds: New Mountain Capital is targeting $1 billion for a new fund to buy minority stakes...in small and midsized U.S. companies, Bloomberg is reporting. I initially thought New Mountain was joining the race to invest in other PE firms but that's not so. 
 
Kirk Falconer is reporting that Penfund wrapped up its sixth mid-market fund. The pool raised C$1.15 billion ($865 million), thanks to a private-debt strategy that resonated with investors. Read the story here.
 
News from Buyouts/ VCJ: The $3 billion Santa Barbara County Employees Retirement System committed $62.3 million to private equity in 2018, adding Thoma Bravo to its roster of general partners in the asset class, Dietrich Knauth said.
 
Active LPs: New Mexico State Investment Council committed less than half its pacing target for 2018 private equity as it carefully selected opportunities and missed out on some of its preferred choices because of a sharply competitive fundraising environment. Check out Preeti Singh's story here.

That’s it for me. Email any tips, kind thoughts and complaints to lbeltran@buyoutsinsider.com

Who's the best:
 Buyouts is now accepting nominations for its 19th annual Deal of the Year awards, honoring exceptional buyouts that were fully or mostly realized in 2018. The deadline for submissions is Friday Feb. 22, 2019, but there’s no time like the present to apply. We’re also adding a new category this year, secondaries of the year, to recognize the top transaction relating to the sale of LP stakes, GP-led liquidity process, secondary-led spinout or some combination of all three.
 
Don’t miss this opportunity to be recognized by the editors of Buyouts for your outstanding work in 2018. Send Chris your submissions at cwitkowsky@buyoutsinsider.comRead more here
 
Winners will be selected in six categories:
 
·         Deal of the year
·         Large market deal of the year
·         Middle market deal of the year
·         Small market deal of the year
·         Turnaround of the year
·         Secondaries of the year
·         International deal of the year

WHAT’S AHEAD IN 2019?  Find out at PartnerConnect Outlook on January 22 NYC’s Pierre Hotel, as we kick off the year with a blue-chip set of speakers including newly named Co-CEO of The Carlyle Group Kewson Lee and Susanne Forsingdal, US head of $14B+ asset manager Allianz Capital, to give you their views on what the year might look like and what strategies they’re deploying now. Over 60 speakers in all and we’re expect close to 300 delegates – a great day for senior execs to compare notes and start the year off with some great networking.
 
PE/VC/RE fund managers interested in meeting the 100+ LPs that will be onsite should register this week as our ExecConnect private meeting program deadline is this Friday, January 11. Check out the website for details or contact Kevin at kmccaffrey@buyoutsinsider.com directly to sign up. Hurry – only a few days left!

Deadline's Friday so pay attention: Service providers! Placement agents! Don’t miss your opportunity for a free listing in our widely distributed Guide to Emerging Manager Investors and Service Providers. Several dozen firms are listed for potential clients to see – make sure yours is too!

Hurry! Deadline to answer is Friday, January 11. Take a few minutes to fill out our survey now:
Service Providers:
https://www.surveymonkey.cm/r/Z6THZ5L
Placement Agencies:
https://www.surveymonkey.com/r/ZH3LP5B

 
Today's  Take  

PE HUB First Read

To start your morning, Eddie Lampert submitted a revised $5 billion bid to save Sears from liquidation, Ford's turnaround plan will produce thousands of job cuts in the U.K. and Europe, and older Americans are disproportionately more likely to share fake news on Facebook.
Read more...  

With dividend, SFW gets most of its money back on Gerson Lehrman

SFW Capital, after three years, has made back most of its money from its investment in Gerson Lehrman Group, sources said. Gerson Lehrman paid out a dividend to its shareholders, which include SFW, people said. The distribution is the first for GLG under SFW’s ownership. Terms were not disclosed. Owl Rock Capital Partners provided debt […]
Read more...  

Santa Barbara Co. committed $62.3 mln to PE in ’18, added Thoma Bravo

The $3 billion Santa Barbara County Employees Retirement System committed $62.3 million to private equity in 2018, adding Thoma Bravo to its roster of general partners in the asset class. The system made seven commitments last year, a report produced for its December meeting shows. All the commitments went to existing relationships, except for Thoma […]
Read more...  

Penfund closes sixth mid-market fund at C$1.15 bln hard cap

Penfund wrapped up its sixth mid-market fund, raising C$1.15 billion ($865 million), thanks to a private-debt strategy that resonated with investors. Penfund Capital Fund VI, launched in early 2018, closed in December above its C$900 million target, Chairman and Partner John Bradlow and Partner Richard Bradlow told Buyouts. The fund is the largest in the […]
Read more...  

Mayfield bulks up its team as it celebrates 50 years of investing

Patrick Salyer, who for seven years served as CEO of customer-identity-management platform provider Gigya, has joined Mayfield as a partner to focus on enterprise companies. He becomes the seventh investing partner at the Menlo Park, California, firm, joining Navin Chaddha, Rajeev Batra, Tim Chang, Rishi Garg, Ursheet Parikh and Vivek Saraswat. The hire comes as […]
Read more...  

Venture funding softens in Q4, but year reaches $99.5 bln mark

Venture capital investing in the United States pulled back modestly in the fourth quarter, but maintained an elevated pace and pushed 2018 to a post dot-com record of $99.5 billion, according to a new report. VCs put $25 billion into 1,211 companies in the final three months of 2018, an 11 percent retreat from the […]
Read more...  

Chinese venture investing slows in Q4, but posts solid year

Venture capital deal making in China fell during the final months of 2018, but for the year rivaled that in the United States as the leading global center for investing. The end-of-year slowdown comes as Chinese economic growth slows and a trade war builds with the United States. In the fourth quarter, deal volume slipped […]
Read more...  

Santa Barbara Co. committed $62.3 mln to PE in ’18, added Thoma Bravo

The $3 billion Santa Barbara County Employees Retirement System committed $62.3 million to private equity in 2018, adding Thoma Bravo to its roster of general partners in the asset class. The system made seven commitments last year, a report produced for its December meeting shows. All the commitments went to existing relationships, except for Thoma […]
Read more...  

New Mexico SIC ’18 PE lagged pacing target as it struggled to access preferred funds

New Mexico State Investment Council committed less than half its pacing target for 2018 private equity as it carefully selected opportunities and missed out on some of its preferred choices because of a sharply competitive fundraising environment. SIC committed $285 million, compared with the target range of $550 million to $650 million, across funds from […]
Read more...  
 
PartnerConnect East 2019
Celebrating 31 Years of Excellence
March 25-27, 2019
Hyatt Regency, Boston

The Premier Networking Event for LPs & GPs in the Private Equity, Venture
Capital and Private Real Estate Sector


Register Now

 
pehw_66x25_VC.jpg pehw_66x25_PE.jpg pehw_49x25_IPOs.jpg pehw_49x25_M%26A.jpg pehw_94x25_firms.jpg pehw_110x25_HR.jpg pehw_83x25_odds.jpg

VC Deals 

 
 

N26 raises $300 mln: Techregister UK

N26, a mobile banking startup backed by Peter Thiel, has raised $300 million in funding from Insight Venture Partners, GIC and existing investors, according to the Techregister UK. The deal values N26, of Germany, at $2.7 billion, the story said.
Read more...  

Aurora to raise $500 mln round led by Sequoia: Recode

Sequoia Capital is leading a funding round of at least $500 million for Aurora, a self-driving car start-up, Recode reported. Aurora, founded in 2016 by Chris Urmson, one of the creators of Google’s self-driving car project that later became Waymo, is expected to be valued at more than $2 billion, the story said.
Read more...  

Talentsoft raises $50 mln

Talentsoft said Jan. 9 that it raised a $50 million round of funding led by Francisco Partners. Existing investors, Bpifrance and Goldman Sachs, also participated. Talentsoft, of Paris, provides learning and human capital management software.
Read more...  

Vena Solutions nabs $115 mln in JMI Equity-led growth round

Vena Solutions, a Toronto-based provider of cloud financial planning and analysis software, has secured $115 million in its latest financing. The round was led by U.S. software growth equity firm JMI Equity. It was joined by Centana Growth Partners, which led the company's $30 million financing in 2016. Vena's other backers include Difference Capital Financial and Klass Capital. Founded in 2011 by CEO Don Mal, Chief Solutions Architect Rishi Grover and CTO George Papayiannis, Vena helps medium and large-sized companies manage their budgeting, forecasting and business planning. The funds raised will be used to accelerate Vena's growth and scale its operations.
Read more...  

SunBridge exits Marketo KK

SunBridge Partners said Jan. 9 that its sold its stake in Marketo KK to Adobe as part of Adobe’s $4.75 billion buy of Marketo. Marketo KK is the Japan joint venture between Market and Sunbridge.
Read more...  

Tiger Global invests $18 mln in Olo

Tiger Global Management LLC has invested $18 million Olo, a digital ordering and delivery platform for the restaurant industry.
Read more...  

Verato raises $10 mln

Blue Heron Capital said Jan. 9 that it participated in Verato’s $10 million Series C round. Existing investors, Bessemer Venture Partners and Columbia Capital, also took part. Verato, of McLean, Virginia, provides cloud-based patient matching and master patient index (MPI) solutions.
Read more...  

Insight Venture Partners invests $60 mln in TaxJar

TaxJar said Jan. 9 that it raised $60 million in funding from Insight Venture Partners. TaxJar, of Boston, is a sales tax automation company.
Read more...  

Cynerio raises $7 mln

Cynerio said Jan. 9 that it raised $7 million in funding. Investors including Accelmed, RDC and MTIP. Cynerio provides medical device and Internet of Medical Things (IoMT) security solutions.
Read more...  

Neosensory raises $10 mln

Neosensory said Jan. 9 that it raised $10 million in a Series A round co-led by Excel Venture Management and DigiTx Partners. Existing investors True Ventures also participated. Neosensory, of Palo Alto, California, developing pioneers devices to send information to the brain non-invasively.
Read more...  

GAN Integrity raises $15 mln

GAN Integrity said Jan. 9 that it raised $15 million in Series B financing led by Aquiline Technology Growth. Existing investors, including Edison Partners, participated in the round. GAN Integrity, of New York, develops compliance management software.
Read more...  
Mark Your Calendars!
PartnerConnect Event's 2019 Calendar is here!


PartnerConnect LP-GP Outlook- January 22nd, NYC
PartnerConnect East- March 25-27th, Boston
PartnerConnect Family Office & Independent Sponsor Spring- May 21-22nd, NYC
PartnerConnect Midwest- June 24-26th, Chicago
Emerging Manager Connect East- July 23rd, NYC
PartnerConnect West- September 23-25th, San Francisco
 PartnerConnect Family Office & Independent Sponsor Fall- October 29-30th, NYC
PartnerConnect Texas- December 9-11th, Dallas
PE Deals sponsored by  
 
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Platte River takes control of Sherrill Inc

Platte River Equity said Jan. 9 that it acquired a controlling stake in Sherrill Inc. Financial terms weren’t announced. Sherill, of Greensboro, North Carolina, distributes arborist tools and equipment in North America.
Read more...  

Yukon partners with ShoreView Industries, CRA founders to form ASO

Yukon Partners said Jan. 9 that it is partnering with ShoreView Industries and the founders of California Retina Associates (CRA) to form an administrative services organization. The company will provide administrative and non-clinical support services, support CRA, and seek to affiliate with other ophthalmology groups throughout the Western United States.
Read more...  

Summit Park invests in Freedom Electronics

Summit Park said Jan. 9 that it invested in Freedom Electronics via a recap. Financial terms weren’t. Freedom Electronics, of Kennesaw, Georgia, makes and sells over 2,300 electronic components used in fuel dispensers, retail point-of-sale systems, and automatic tank gauges.
Read more...  

Oaktree Capital invests $450 mln in Watco

Watco Cos LLC said Jan. 4 that Oaktree Capital Management LP is investing $450 million for a non-controlling equity stake of Watco. Watco, of Pittsburg, Kansas, is a transportation company that provides transportation, terminal and port, mechanical, and supply chain services throughout North America and Australia. Richard Alsop, Laura Friedrich and Kenneth Laverriere of Shearman & Sterling advised Oaktree.
Read more...  

ShoreView invests in California Retina Associates alongside management

ShoreView Industries invested in a newly formed administrative services organization that will provide administrative and non-clinical support services to California Retina Associates, an ophthalmology practice based in southern California. ShoreView invested alongside the founders of California Retina Associates.
Read more...  

Catalyst Principal Partners buys 3 mattress makers

Catalyst Principal Partners said Jan. 9 that it bought three mattress makers: Euroflex Ltd (Uganda); Vitafoam Ltd (Malawi) and Superfoam Ltd (Kenya). Financial terms weren't announced. The three companies were merged and renamed Mammoth Foam Africa. StratLink advised Euroflex and Vitafoam.
Read more...  

BBH Capital invests in Ethos Veterinary Health

BBH Capital Partners said Jan. 9 that it has invested in Ethos Veterinary Health LLC via a recap. Financial terms weren’t announced. Ethos, of Woburn, Massachusetts, provides specialty veterinary health services, including 24/7 emergency care, surgical procedures, radiology services and internal medicine.
Read more...  

RLJ Equity buys Olson Brothers Pro-Vac

RLJ Equity Partners LLC has acquired Olson Brothers Pro-Vac LLC. Sellers include Peninsula Capital Partners, Silver Peak Partners and Pro-Vac management. Pro-Vac, of Puyallup, Washington, provides environmental, infrastructure, and municipal services in the Pacific Northwest.
Read more...  

Sterling Partners exits Kids Care Dental

RiverGlade Capital has acquired Kids Care Dental & Orthodontics. Financial terms weren’t announced. Sterling Partners was the seller. Kids Care provides dental care, orthodontics and oral surgery. Cain Brothers provided financial advice to Sterling and Kids Care.
Read more...  

Aqua Capital buys 70 pct of Rech Agricola

Aqua Capital has acquired 70 percent of Rech Agricola. Financial terms weren’t announced. Rech, of Brazil, is a distributor of spare parts for agricultural machines. The Collins Group Inc provided financial advice to Rech Agricola.
Read more...  

Craftsman Capital buys CMIT Solutions

Craftsman Capital has acquired CMIT Solutions. Financial terms weren’t announced. CMIT, of Austin, is a managed service provider of enterprise-level information technology services to the small and mid-market business community.
Read more...  

Oak Hill Capital, Pamlico to recap Vast Broadband

Vast Broadband said Jan. 9 that it is buying NTS Communications from Tower Three Partners. Financial terms weren’t announced. NTS operates a fiber network spanning more than 2,700 owned route miles that includes more than 60,000 homes and businesses in Texas markets of Lubbock, Amarillo, Abilene, Midland and Wichita Falls, and markets in Louisiana. Once the NTS deal closes, Oak Hill Capital Partners and Pamlico Capital are investing in Vast via a recap. Vast provides high-speed broadband, video, and voice services. Bank Street Group LLC provided financial advice to NTS. SunTrust Robinson Humphrey Inc and TD Securities (USA) are providing debt financing.
Read more...  
PROMOTE YOUR BRAND! GENERATE AWARENESS!  SELL YOUR PRODUCTS & SERVICES! 
 
Don't miss the opportunity to get in front of key Private Equity decision makers by showcasing your company, products and services in upcoming issues of Buyouts and VCJ
 
For more information about advertising, print & digital content contribution opportunities please click here       
 
IPOs
 
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M&A Deals  
 
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Roland Foods buys Albert Uster Imports

Roland Foods LLC, a portfolio company of Vestar Capital Partners, has acquired Albert Uster Imports Inc. Financial terms weren’t announced. Albert Uster, of Gaithersburg, Maryland, imports of specialty pastry, bakery, and confectionary products for professional chefs and bakers. Kirkland & Ellis served as legal counsel and SunTrust Robinson Humphrey as financial adviser to Roland Foods and Vestar. Legal counsel for AUI was provided by Arnold & Porter.
Read more...  

Clariant begins 2020 sale plan with search for pigments buyer: Reuters

Switzerland’s Clariant (CLN.S) has begun the sale of its pigments business as part of wider a streamlining which it has said it will complete by the end of 2020, Reuters reported.
Read more...  

Revelstoke-backed CEI Vision buys Retina Vitreous Associates

CEI Vision Partners, a portfolio company of Revelstoke Capital Partners, has acquired Retina Vitreous Associates. Financial terms weren’t announced. Retina Vitreous Associates, of Toledo, Ohio, is a vitreoretinal surgical practice with nine ophthalmologists who specialize in medical and surgical retinal disorders, including diabetic retinopathy, age-related macular degeneration, retinal vascular disease, diabetic macular edema, and other retinal conditions.
Read more...  

PE-backed Gladson buys ItemMaster

Gladson, a portfolio company of The Jordan Co and Wicks Capital Partners, has acquired ItemMaster. Financial terms weren’t announced. ItemMaster, of Chicago, is a product content management company. Winston & Strawn LLP served as legal adviser to Gladson. Drake Star Partners provided financial advice while Cooley LLP was the attorney for ItemMaster.
Read more...  

Gryphon-backed Smile Brands invests in DecisionOne Dental Partners

Smile Brands Inc, a portfolio company of Gryphon Investors, has invested in DecisionOne Dental Partners. Financial terms weren’t announced. DecisionOne, of Schaumburg, Illinois, is a dental group.
Read more...  

Abry-backed Hilb Group buys D’Camera Group

Hilb Group LLC, a portfolio company of Abry Partners, has acquired D'Camera Group. The deal closed Jan. 1. D'Camera Group, of Annapolis, Maryland, provides property and casualty insurance in the Mid-Atlantic region.
Read more...  
Real Estate
 
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Longpoint Realty closes debut fund on $280 mln

Longpoint Realty Partners closed its debut private real estate fund on $280 million. Longpoint Realty Fund I has a broad mix of U.S. and Europe-based sovereign funds, pensions, asset managers, endowments, foundations, family offices and consultants. Fund I about is 25 percent invested in 15 assets totaling about 1.8 million square feet. Atlantic-Pacific Capital worked as placement agent on the fundraising.
Read more...  

Eiseman joins ElmTree Funds

ElmTree Funds LLC said Jan. 9 that Rick Eiseman has joined the firm as senior vice president of operations and fund management. Eiseman was a senior vice president of asset management for Gramercy Property Trust’s office portfolio from 2016 to 2018.
Read more...  
Firms & Funds
 
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New Mountain to seek $1 bln fund for minority stakes: Bloomberg

New Mountain Capital is planning to launch a fund dedicated to minority stakes, Bloomberg is reporting. The PE firm is seeking $1 billion for the pool that will take minority stakes in small and midsize closely held companies based in the U.S., the story said.
Read more...  
Human Resources
 
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Macarchuk named COO, general counsel at Angel Island Capital

Angel Island Capital said Jan. 10 that it appointed Nicole J. Macarchuk its COO and general counsel, while Robert Ryan, CPA, was named CFO. Macarchuk is the former managing director and general counsel of public markets at KKR. Ryan is the ex-COO and CFO of Archview Investment Group.
Read more...  

O’Byrne joins Carlyle Aviation Partners

Carlyle Aviation Partners said Jan. 9 that Edward “Ted” O’Byrne has joined the firm as a managing director and co-head of aviation. O’Byrne joins Carlyle Aviation after 11 years with AerCap Holdings NV.
Read more...  

Mendenhall joins Fireman Capital Partners

Wes Mendenhall has joined Fireman Capital Partners as a principal. Mendenhall was previously director, global banking and markets for the Bank of America Merrill Lynch cross asset solutions team.
Read more...  

Sensor named CEO of Kolmac Outpatient Recovery Centers

Kolmac Outpatient Recovery Centers, a portfolio company of WindRose Health Investors, said Jan. 9 that Wayne Sensor was named CEO. Mark Santangelo, Kolmac’s former CEO, has retired. Sensor is the former president of Direct Patient Logistics.
Read more...  

Fireman Capital hires ex-Bank of America Merrill Lynch executive Wes Mendenhall

Fireman Capital Partners hired Wes Mendenhall as a principal to focus on business development and investor relationships. Mendenhall previously worked as director in global banking and markets for Bank of America Merrill Lynch cross asset solutions group. Before, he worked in global wealth management division's managed solutions group. Mendenhall served as an active duty paratrooper in the U.S. Army 82nd Airborne Division.
Read more...  

Pritzker Group Venture Capital makes Nagar a partner

Pritzker Group Venture Capital said Jan. 9 that it promoted Sonia Nagar to partner, Ty Findley to vice president and Eric Duboe to senior associate.
Read more...  

Berstein joins Piper Jaffray Cos

Robert Berstein has joined Piper Jaffray Cos as a managing director focused on internet and digital media within technology IB. Berstein joins Piper from DCS Advisory (formerly Signal Hill).
Read more...  

Eiseman joins ElmTree Funds

ElmTree Funds LLC said Jan. 9 that Rick Eiseman has joined the firm as senior vice president of operations and fund management. Eiseman was a senior vice president of asset management for Gramercy Property Trust’s office portfolio from 2016 to 2018.
Read more...  

Robertshaw joins Star Mountain Capital as senior advisor

John Robertshaw has joined Star Mountain Capital as a senior advisor. Robertshaw is currently a co-founder and chairman of the board of iCapital Network. He is a former vice chairman of Credit Suisse Securities (USA).
Read more...  

Seyfarth Shaw hires former Magic Leap general counsel Mark Albert

Seyfarth Shaw LLP hired Mark Albert to the corporate department in Chicago. Albert most recently worked as general counsel of Magic Leap, a tech company building a computing platform. Before, Albert was a corporate partner at Perkins Coie LLP and a founding member of its Palo Alto office.
Read more...  

Carrick Capital promotes Wenner

Carrick Capital Partners said Jan. 9 that Chris Wenner was promoted to managing director.
Read more...  

Feeney joins Noble Investment Group

Noble Investment Group said Jan. 9 that Emily Feeney has joined the firm as manager of capital markets and investments. She was previously with Hodges Ward Elliott.
Read more...  

Paine Schwartz announces promotions

Paine Schwartz Partners LLC announced promotions on Jan. 9. John Novak was named a managing director, while Alex Corbacho was elevated to director and Brian Thies to principal.
Read more...  

Lime Rock Resources promotes Miller to president, COO

Lime Rock Resources said Jan. 9 that Tim Miller was named president and chief operating officer. Jonathan Hickman was also promoted to chief engineer while Mark Reid was elevated to VP, operations.
Read more...  

Koltay named CFO at Balance Point Capital

Balance Point Capital said Jan. 9 that Lindsay Koltay was named CFO.
Read more...  

Mamros joins Perfecta as CFO

Perfecta said Jan. 9 that Paul Mamros was named CFO effective Jan. 7. Mammos joined Perfecta from PE-backed Zippy Shell.
Read more...  

Bradley rejoins Macquarie Capital

Macquarie Capital said Jan. 9 that Oliver Bradley has rejoined the firm as a managing director focused on digital infrastructure. Most recently, Bradley was corporate finance director at CityFibre Infrastructure Holdings plc. He worked for Macquarie from 2005 to 2015.
Read more...  

Pine Brook promotes two to partner

Pine Brook promoted Ted Maa and Scott Schaen to partner. Maa joined Pine Brook's energy team in 2012, prior to which he was a vice president at Denham Capital. Schaen joined the firm in 2010, prior to which he worked at Lightyear Capital.
Read more...  

EQT Ventures adds partners to its London team

EQT Ventures announced this week that Johan Svanström and Lyle Fong have joined London team as partners. The firm, launched nearly three years ago, now has 30 team members worldwide in six cities, London, San Francisco, Berlin, Paris, Stockholm and Amsterdam. Svanström was previously president of Hotels.com and Fong is a serial entrepreneur, having founded enterprise software and gaming companies, including Lithium.
Read more...  
Credit
 
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LBC boosts Drake Automotive credit facility in support of sixth add-on

LBC Credit Partners increased the credit facility for automotive aftermarket parts business Drake Automotive Group to support its add-on acquisition of Addictive Desert Designs. Addictive Desert Designs is the sixth acquisition by the Drake platform since it was launched by Huron Capital in 2016.
Read more...  
Odds & Ends + Hot Links 
 
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PE HUB First Read

To start your morning, Eddie Lampert submitted a revised $5 billion bid to save Sears from liquidation, Ford's turnaround plan will produce thousands of job cuts in the U.K. and Europe, and older Americans are disproportionately more likely to share fake news on Facebook.
Read more...  

KKR’s Kravis puts Colorado ranch on the block: press reports

Henry Kravis, co-founder of KKR, has put his Colorado ranch up for sale and is asking $46 million, according to press reports. The ranch is known as Westlands, a 4,600-acre property more than 20 miles southeast of the town of Meeker, the Wall Street Journal said.
Read more...  
 
     
 
 
 
 
 
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