Monday, December 23

Tag: WSJ-PRO-PE

Sandbrook Capital Raises $2.1 Billion to Back Climate-Infrastructure Deals
14Dec By adminNo Comments
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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
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Former Warburg Pincus Executives’ New Firm Seeks $750 Million for Oil-and-Gas Bets
13Dec By adminNo Comments
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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
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Investcorp Joins Corsair’s $4.8 Billion Infrastructure Business
11Dec By adminNo Comments
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Investcorp Joins Corsair’s $4.8 Billion Infrastructure Business

Dec. 11, 2023 7:00 am ET|WSJ ProInvestcorp has acquired a half-interest in Corsair Capital’s nearly $5 billion infrastructure business, injecting the Bahrain-based firm into a global industry and giving Corsair a capital boost as sheer heft becomes increasingly important in attracting institutional investors to new funds.New York-based Corsair, which also makes buyout investments, managed $9.6 billion at the end of September, including $4.8 billion in infrastructure assets mostly in transportation and logistics. Among those holdings is management company Vantage Airport Group, which helped build the new Terminal B at New York’s LaGuardia Airport and is working on another at John F. Kennedy International Airport.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856...
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Falfurrias Raises $400 Million for Debut Growth Fund
7Dec By adminNo Comments
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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
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Pro Take: Nine West LBO Payouts Upheld, a Blow to Creditors
5Dec By adminNo Comments
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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
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Failure of Bid for Origin Energy Signals Rising Power of Funds
5Dec By adminNo Comments
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Failure of Bid for Origin Energy Signals Rising Power of Funds

Dec. 4, 2023 11:47 pm ET|WSJ ProSYDNEY—The failure of an US$11 billion takeover bid for Origin Energy marks the beginning of a cycle where long-term investors could play a more dominant role in capital markets.That is the view of Andrew Polson, chief executive of Frontier Advisors, which advises institutional clients who own around 630 billion Australian dollars (US$417.12 billion) in assets. After a wave of mergers in recent years, pension funds in Australia have been increasing their firepower to support investments by companies that until now have largely had to turn to banks, a deep-pocketed buyer or equity raising.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Brookfield Targets ‘Deglobalization’ Opportunities With $30 Billion to Spend
1Dec By adminNo Comments
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Brookfield Targets ‘Deglobalization’ Opportunities With $30 Billion to Spend

Dec. 1, 2023 6:38 pm ET|WSJ ProBrookfield’s asset-management unit amassed $30 billion in fresh capital to invest in data centers, telecommunications towers, renewable-power plants and other infrastructure assets, wrapping up its largest fund ever and taking one more step toward its goal of collecting $150 billion in commitments this year.The Toronto-based firm closed its Brookfield Infrastructure Fund V with $28 billion, surpassing the amount raised for each of its other vehicles to date. The firm brought in 12% more than its $25 billion target for Fund V and 40% more than the $20 billion it collected for a predecessor vehicle in 2020.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Brookfield’s Origin Saga Shows It’s Hard to Price Polluters—Analysis
29Nov By adminNo Comments
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Brookfield’s Origin Saga Shows It’s Hard to Price Polluters—Analysis

Nov. 29, 2023 12:05 am ET|WSJ ProSYDNEY—At the heart of a nearly US$11 billion takeover tussle for the owner of several Australian coal-fired power plants is a key question for investors: how to value a major polluter that could also become a big enabler of the energy transition.It isn’t proving easy. A consortium led by Brookfield Asset Management has made an offer for Origin Energy worth 9.43 Australian dollars a share, equivalent to US$6.21 a share, that it says is fair to shareholders. Brookfield says it will spend up to US$30 billion on accelerating Origin’s shift to renewable energy and storage over the decade through 2033.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Bain Capital Banks $7 Billion for Asia Buyouts
21Nov By adminNo Comments
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Bain Capital Banks $7 Billion for Asia Buyouts

Nov. 21, 2023 3:58 pm ET|WSJ ProBain Capital has amassed $7.1 billion for its latest buyout fund focused on deals in Asia, running against the tide as private-equity fundraising slowed worldwide.The Boston firm said it collected 40% more than the $5 billion target for the vehicle, Bain Capital Asia Fund V. This amount includes Bain Capital’s own $750 million commitment—15% more than the amount the firm put into its fourth Asia fund. The new pool is also 53% bigger than its predecessor, which the firm closed on $4.65 billion in 2018.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8The go-to source for all things private equity.News, data and analysis to help you find opportunities, and to follow the broad trends in dealmaking, investing and...
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Riverwood Capital Closes on $1.8 Billion for Technology Deals
20Nov By adminNo Comments
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Riverwood Capital Closes on $1.8 Billion for Technology Deals

Nov. 20, 2023 7:00 am ET|WSJ ProPrivate-equity firm Riverwood Capital, formed 15 years ago by former KKR executives, has raised its largest pool of capital to date to invest in high-growth technology companies.The firm collected $1.8 billion for its fourth fund, Riverwood Capital Partners IV, and related vehicles, said firm co-founders Francisco Alvarez-Demalde and Jeff Parks. The sum exceeds Riverwood’s $1.5 billion target as well as the firm’s previous fundraising effort, a 2019-vintage vehicle that gathered $1.4 billion.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8The go-to source for all things private equity.News, data and analysis to help you find opportunities, and to follow the broad trends in dealmaking, investing and regulati...
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