Private Equity – The News Desk

‘This Can’t Go On for Much Longer.’ Private Equity’s Deal Lament

31Dec

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Money

‘This Can’t Go On for Much Longer.’ Private Equity’s Deal Lament

Private-equity firms usually drive dealmaking on Wall Street. In 2023, they sat it out.High interest rates put many new deals out of reach. Shaky market conditions made it hard for firms to cash out of current investments. And some of their investors have been pulling back. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

E-Signature Company DocuSign Explores a Deal

16Dec

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Money

E-Signature Company DocuSign Explores a Deal

E-signature company DocuSign is working with advisers to explore a sale, in what could be one of the largest leveraged buyouts in recent memory.Conversations are in the early stages, people familiar with the situation said, and there are no guarantees a deal will be reached. DocuSign could attract interest from private-equity firms and technology companies.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Sale of Silicon Valley Bank’s Old Venture Capital Arm Hits a Snag

15Dec

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Money

Sale of Silicon Valley Bank’s Old Venture Capital Arm Hits a Snag

A process to sell the venture-capital arm of bankrupt SVB Financial, the former parent of Silicon Valley Bank, has fallen flat and creditors are now gearing up for a potential takeover of the business. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Sandbrook Capital Raises $2.1 Billion to Back Climate-Infrastructure Deals

14Dec

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World

Sandbrook Capital Raises $2.1 Billion to Back Climate-Infrastructure Deals

Dec. 14, 2023 6:30 am ET|WSJ ProSandbrook Capital has amassed $2.1 billion to invest in renewable-energy businesses, as the private-equity firm shifts its focus to the U.S. with its debut fund after making its first deals in Europe.The Stamford, Conn.-based clean-energy investor wrapped up its Sandbrook Climate Infrastructure Fund I with $1.5 billion, or 50% more than its initial $1 billion goal. The firm also collected slightly over $600 million for related co-investment vehicles, said Kenneth Ryan, a Sandbrook partner. Roughly 35 investors backed the fund, he said. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Former Warburg Pincus Executives’ New Firm Seeks $750 Million for Oil-and-Gas Bets

13Dec

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World

Former Warburg Pincus Executives’ New Firm Seeks $750 Million for Oil-and-Gas Bets

Updated Dec. 13, 2023 2:34 pm ET|WSJ ProCovalence Investment Partners, a new firm founded by two former executives of Warburg Pincus, is seeking $750 million to invest in the oil patch, pitching its debut fund as an opportunity to buy mature fields at bargain prices.David Habachy and David Krieger, who launched Covalence early this year, both previously worked as managing directors at Warburg and led investments in oil and gas for the New York private-equity firm, according to a fund-marketing presentation viewed by WSJ Pro Private Equity. Warburg has sold several of its oil-and-gas holdings in the past year or so, as it retreats from the sector. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Extension Rounds Push Venture Capitalists to Collaborate

12Dec

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World

Extension Rounds Push Venture Capitalists to Collaborate

Dec. 12, 2023 6:00 am ET|WSJ ProVenture capitalists are leaning on relationships with their peers to pull off extension rounds—financing that can help safeguard a startup’s valuation during down markets.These deals often happen without standard fundraising pitches, meaning venture investors need to hash out terms among themselves. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Occidental to Acquire CrownRock in $12 Billion Deal

11Dec

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World

Occidental to Acquire CrownRock in $12 Billion Deal

Updated Dec. 11, 2023 7:49 am ETOccidental Petroleum has signed a $12 billion cash-and-stock deal to acquire the oil and gas producer CrownRock.Houston-based Occidental said Monday that it will take on $9.1 billion in new debt and issue $1.7 billion in new shares to finance the transaction, which sees it gaining CrownRock’s 94,000 net acres in the northern part of the Midland Basin in Texas. The acreage is part of the Permian basin, the largest oil producing region in the U.S.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Falfurrias Raises $400 Million for Debut Growth Fund

7Dec

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World

Falfurrias Raises $400 Million for Debut Growth Fund

Dec. 7, 2023 7:00 am ET|WSJ ProFalfurrias Management Partners has wrapped up fundraising for its debut vehicle to back newer businesses with the potential for rapid growth, after expanding into the strategy last year and hiring a senior Carlyle Group executive as part of the effort. The Charlotte, N.C.-based private-equity manager said it has collected $400 million for Falfurrias Growth Partners I, hitting its upper fundraising limit for the vehicle. Investors included backers of the firm’s buyout funds. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Pro Take: Nine West LBO Payouts Upheld, a Blow to Creditors

5Dec

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World

Pro Take: Nine West LBO Payouts Upheld, a Blow to Creditors

Dec. 5, 2023 9:00 am ET|WSJ ProMore than $1 billion doled out to shareholders in Sycamore Partners’ 2014 buyout of retailer Nine West and other apparel brands owned by Jones Group is legitimate and can’t be unwound, according to an appeals court ruling that gave priority to market stability over creditors seeking to recoup funds in bankruptcy.In a long-awaited 56-page ruling, the U.S. Second Circuit Court of Appeals last week affirmed the Southern District of New York’s 2020 decision that extended safe harbor protections to payments distributed to shareholders in the deal. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Pro Take: Venture Investors Move the Goal Posts for Seed-Stage Companies

4Dec

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World

Pro Take: Venture Investors Move the Goal Posts for Seed-Stage Companies

Dec. 4, 2023 6:00 am ET|WSJ ProVenture capitalists focused on backing companies at the seed stage—the earliest chapter of startup investing—broadly say they have become pickier about which startups they are willing to back, yet another sign of how the venture industry’s slowdown is affecting companies previously insulated from the choppy environment. Nascent startups must clear a higher bar for metrics like annual recurring revenue and customer acquisition to attract investors, who also say they are reviewing more deals before committing. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8