Amanda Janis
Apollo will reportedly become the second major alternative asset manager to list a portion of its management company on Goldman’s private exchange. The private float is expected to follow sales of minority stakes to Abu Dhabi and possibly CalPERS.
Citicorp Venture Capital has purchased regional US soft drink company Big Red for an undisclosed amount.
Blackstone has surpassed Goldman’s record for the biggest private equity fund raised to date, with the closing of its fifth fund on $21.7 billion.
Hillary Clinton has become the latest Democratic presidential candidate to speak out in favour of carried interest tax reform. Earlier this week ex-Fortress advisor John Edwards slammed a tax code that lets GPs ‘pay taxes at a lower rate than their secretaries’.
Venture firm Highland Capital has closed a $300 million, retail- and consumer-focused fund, which will be led by Staples co-founder Tom Stemberg and Ted Philip, a founding member of search engine and web portal Lycos.
The San Francisco-based private equity firm has closed its seventh, energy-focused fund with $1.35 billion in commitments – nearly double the size of its previous fund.
Apollo Management is reportedly in a dispute over the valuation of the firm in its attempt to sell a 10 percent stake to the Abu Dhabi Investment Authority.
US firm JMI has doubled the size of its previous fund – and its capital under management – with the closing of its sixth fund on $600 million.
Millennium Technology Ventures has bolstered its senior investment team as its founders prepare for a spike in secondary opportunities they expect from an eventual market downturn.
Recently-listed private equity stocks are under-performing on both sides of the Atlantic, casting doubt on the future ability of buyout firms to tap the public markets for additional capital.