Unquote
US pension fund pulls back private equity commitments
Milwaukee County reduces commitments to four private equity funds, from $79.5m to $63.5m
Omers Ventures Fund IV closes on $750m
Fund targets growth-orientated, disruptive technology companies based across North America and Europe
Index Ventures raises $2bn across two new funds
Index Ventures Growth V, which targets later-stage companies, raises $1.2bn, while Index Ventures X closes on $800m
17Capital invests €100m preferred equity in European fund
Funds provided will enable the manager to invest further in their existing portfolio companies
Half of GPs prepared to hire based on video interviews - survey
Survey conducted by PER shows that 52% of participants could make offers from video interviews
CVC attracts big LP tickets for new flagship fund
GP is aiming to raise €17.5bn by a June deadline and is already raking in large commitments
Market braces for 12.6% drop in valuations by Q2 – report
NAVs expected to drop for Q1, with a steeper mark-down for Q2 as the crisis take its toll
GP profile: Silverfern
Managing directors Robert Spittler and Alexander Zucker discuss the strategy for the new fund and the GP's track record
BC Partners hires Adia's Heberling
Heberling joins from the Abu Dhabi Investment Authority, where he was a senior member of the private equity team
Houlihan Lokey launches new GP advisory practice
New head Joseph Lombardo has previously worked at Stonyrock, Carlyle, JP Morgan and Morgan Stanley
Unquote Private Equity Podcast: Fund financing in a fix
The Unquote team looks at how PE managers are turning to fund financing in a bid to shore up their portfolios
The Deals Pipeline
A fortnightly highlight of deal processes underway and involving PE, either on the buy- or sell-side, across Europe
Oaktree backs Asacha Media, creates TV production group
With support from Oaktree, Asacha is currently in negotiations to acquire additional production companies
KKR expects lower valuations for its portfolios due to Covid-19
GP forecasts that emergency restrictions will challenge its ability to market new funds and strategies
Coronavirus: European LPs contemplate course corrections
LPs are not unanimous in their opinion of how the current pandemic will reshape ways of thinking
EC launches €300m platform Escalar
In its pilot phase, Escalar will provide up to тЌ300m, backed by the European Fund for Strategic Investments
Capital Constellation enters partnership with Pollen Street
Capital Constellation will provide capital in a bid to support the continued growth of Pollen Street
Crescent European Specialty Lending Fund II closes on €1.6bn
CESL II invests in a diversified portfolio of private secured debt issued by European companies
Delays in cross-border carve-outs add hefty surcharge – report
An average 16% of deal value drains away when processes over-run for more than four months, according to a recent TMF report
European consumer M&A presents opportunities in Covid-19 chaos
Europe's consumer sector offers pockets of opportunity as the coronavirus pandemic wreaks havoc on M&A
Secondaries players hold fire despite copious dry powder
Market is likely to pause until Q2 2020 valuations are released, potentially leading to a flurry in Q4
GPs turn to preferred equity in hunt for emergency liquidity
GPs seek to raise pots of capital fast to insulate their portfolio companies from the economic fallout of Covid-19
StepStone closes fourth secondaries fund on $2.1bn
SSOF IV's investment strategy focuses on the inefficient segments of the secondaries market
Q&A: Cambridge Associates' Featherby on PE's time to shine
Very few managers will have net benefited from this crisis, says Featherby, but PE could still showcase its ability to outperform