Investors work to find true benefit of opportunity zone dealsPosted: 06/14/2019 |
Subscription Required Despite the buzz, some investment professionals remain cautious on opportunity zones, even as the first major deadline for investors to drop their capital gains into a fund looms. “We have looked at a lot of opportunity zone funds, and we haven’t been compelled by most of them,” Kevin Philip, a managing director at Bel Air […] | | Read more... | |
|
Fresh Profile: Independent sponsor Borgman Capital eyes midwest industrialsPosted: 06/13/2019 |
Subscription Required Sequoya Borgman was no stranger to the world of private equity before he formed Borgman Capital, a Milwaukee-based independent sponsor, in 2017. He spent 20 years as a certified public accountant at some of the largest accounting firms, including Deloitte and KPMG, helping private equity firms with their acquisitions. “After doing it on that side […] | | Read more... | |
|
Fresh Profile: Independent sponsor Altacrest finds success through e-commercePosted: 06/12/2019 |
Subscription Required Tim Laczkowski is taking the skills he learned after working 15 years at Prudential Capital Group and using them in buying and growing lower middle market businesses. Laczkowski formed independent sponsor Altacrest Capital in 2017 to invest in consumer products and business-to-business services. “PCG prepared us well to pursue our strategy of growing lower middle […] | | Read more... | |
|
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... | |
|
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... | |
|
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... | |
|
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... | |
|
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... | |
|
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... | |
|
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... | |
|
