Koch family’s investment arm invests in family-backed Getty ImagesPosted: 11/29/2018 |
Subscription Required Koch Equity Development, the investment arm of privately owned Koch Industries, is investing $500 million in family-owned Getty Images for a non-controlling stake in the stock-photo company. It’s unclear how big Koch’s holding is in Getty, which is laboring under a heavy debt load. The Getty family is retaining control over the company, a statement […] | | Read more... | |
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NYS Common ushers in new relationships with Crestview, Reverence CapitalPosted: 11/28/2018 |
Subscription Required The $207 billion New York State Common Retirement Fund committed $200 million to Crestview Partners in September, adding a new manager to its roster of private equity partners. The fund, managed by State Comptroller Thomas DiNapoli, committed to Crestview Partners IV, which focuses on North American middle-market businesses within its core sector verticals. Crestview is a new […] | | Read more... | |
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New Mexico SIC’s PE commitments fall short of pacing for 2018Posted: 11/28/2018 |
Subscription Required New Mexico State Investment Council’s private equity portfolio increased by almost $400 million but commitments fell short of the pacing target in 2018. Contributions exceeded distributions by almost $100 million and the portfolio made gains of $300 million, said Richard Pugmire, managing director at Pavilion Alternatives Group, New Mexico SIC’s investment adviser, at the Nov. […] | | Read more... | |
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Opportunity zones offer family offices access to impact, tax breaksPosted: 11/27/2018 |
Subscription Required McNally Capital, a family office, began identifying ways to take advantage of a new federal tax rule meant to encourage investment in underserved communities by tracking Amazon’s search for its headquarters. The rule, included in the Tax Cuts and Job Acts in December 2017, allows private investors to roll their capital gains into a Qualified […] | | Read more... | |
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Fresh Profile: Daniel Aegerter’s family office to boost growth, special situations investmentsPosted: 11/26/2018 |
Subscription Required Armada Investment Group, Daniel Aegerter’s family office, is looking for growth and special situations investments to diversify its portfolio. Aegerter established his family office in 2000 after the sale of his U.S.-based company TRADEX Technologies to Ariba (that was subsequently acquired by SAP Technologies). Aegerter was only 31 years at the time and at $5.6 billion, […] | | Read more... | |
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Five Questions with Frank McGrew of family office McNally CapitalPosted: 11/26/2018 |
Subscription Required McNally Capital, the family office of the McNally family, was founded in 2008 by Ward McNally. The family’s wealth comes from Rand McNally & Co, at one time the world’s biggest mapmaker. McNally’s direct investment portfolio includes Feddata, Dedicated Computing, Genesys Aerosystems, Europa Sports Products, ITS Logistics and Advanced Micro Instruments. Frank McGrew, managing director, […] | | Read more... | |
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Connecticut Treasurer-elect Wooden names transition advisory team, includes TSG co-founderPosted: 11/23/2018 |
Subscription Required Connecticut Treasurer-elect Shawn Wooden named Duane Hill, co-founder of TSG Capital Group, part of his 10-member transition committee to advise him on personnel, operational and policy-related matters. TSG, formerly Equico Capital Corp, was a minority enterprise small business investment company. The name change took place in 1994 when Hill, Equico’s president, and Cleveland Christophe, co-founder, led a […] | | Read more... | |
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New Hampshire pension to stick with NEPC as investment consultantPosted: 11/21/2018 |
Subscription Required New Hampshire Retirement System plans to stick with NEPC as its investment consultant, pending final approval by the board in December. NEPC has been general investment consultant for the $8.7 billion system since the start of 2013, and it will take a fee cut in exchange for a two-year extension. Originally signed to a three-year […] | | Read more... | |
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Commonfund opens diversity office to boost LP dialogue around womenPosted: 11/20/2018 |
Subscription Required Diversity in private equity is an issue that has slowly gained more attention, but meaningful change won’t likely happen until the limited-partner community fully pushes its managers to make change. Women represented only 17.9 percent of PE employees globally and just 17.1 percent in the U.S., Preqin reported last year. Of the 9.4 percent that […] | | Read more... | |
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Emerging Manager Roundup: Novalpina, Health Velocity, Base10 Partners and morePosted: 11/20/2018 |
Subscription Required Emerging managers raised more than $1.1 billion in the past week. Four firms raised over $100 million. No firm raised as much as Novalpina Capital. The private equity firm raised more than $328 million and targets over $1.1 billion. The other PE firm to cross the $100 million mark was Corbin Capital Partners. Its first […] | | Read more... | |
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