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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Illinois MRF pledges $256 mln to IK, HarbourVestPosted: 05/20/2019 |
Subscription Required Illinois Municipal Retirement Fund at its May meeting disclosed $256 million in PE commitments. The board pledged €50 million ($56 million) to IK Investment Partners’ ninth fund. IK Investment Partners focuses on northern European buyouts and invests as much as €150 million into companies, Buyouts reported. IMRF previously committed €6.1 million to IK. The system committed […] | | Read more... | |
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Fresh Profile: AGI Partners and its buy-and-build strategyPosted: 05/17/2019 |
Subscription Required AGI Partners is a lower-middle-market-focused independent sponsor pursuing what Partner David Acharya, calls a “very simple” strategy: buy and build. “We find a good platform company; we find a good management team. Then we find complementary add-ons, but we also focus on overall value creation,” he told Active LPs. AGI makes direct investments into TMT, business marketing services […] | | Read more... | |
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