With New Fund, Edgewater Adds Biz Development Pro

With New Fund, Edgewater Adds Biz Development Pro

Edgewater Capital Partners has added Jason Burmer to its team as vice president of business development. Mr. Burmer will spearhead Edgewater’s business development function and work with the firm’s investment team to implement investment themes and expand upon relationships nationwide. The addition of Mr. Burmer follows Edgewater’s closing of its most recent fund, Edgewater Capital […]

Aldine Beats Target on Fund III

Aldine Beats Target on Fund III

Aldine Capital Partners has held a final closing of its third fund, Aldine Capital Fund III LP, with total capital of $240 million. The new fund was significantly oversubscribed and had an initial target of $200 million. Limited partners in Fund III include financial institutions, university endowments, fund of funds, family offices, and high net […]

Advent Hits Fund IX Hard Cap

Advent Hits Fund IX Hard Cap

Advent International has completed fundraising for Advent International GPE IX LP at its hard cap of $17.5 billion. The new fund was raised in only six months and exceeded its original target of $16 billion. Advent’s earlier fund, GPE VIII, closed at its hard cap of $13 billion in March 2016. GPE IX saw strong […]

Westcott Forms Private Equity Firm

Westcott Forms Private Equity Firm

Westcott LLC, the investment office of the Westcott family, has formed Westcott Investment Group, a new lower middle market private equity firm. Westcott Investment Group makes control equity investments and non-control growth capital investments from $3 million to $15 million in lower middle market companies that have EBITDA from $2 million to $12 million and […]

Diversis Closes First Fund

Diversis Closes First Fund

Diversis Capital Management has held a final closing of its inaugural fund, Diversis Capital Partners I LP, at its hard cap of $255 million. The new fund had an original target of $200 million and was raised in just six months. Investors in Fund I include endowments and foundations, investment advisers and fund-of-funds, public and […]

Cohere Capital Launched in Boston

Cohere Capital Launched in Boston

Cohere Capital, a new growth-focused private equity firm, has been launched in Boston by Nik Shah and Daniel Gedney. Cohere Capital makes majority or influential minority ownership investments across a range of industries but has a specific interest in majority stakes in profitable technology-enabled businesses and healthcare services companies. From 2007 to 2019, Mr. Shah […]

Investcorp to Acquire Mercury

Investcorp to Acquire Mercury

Mercury Capital Advisors Group, a capital raising and investment advisory firm, has agreed to be acquired by alternative investment giant Investcorp. As part of the transaction, Mercury will remain an independent business operating under its current management team. The Mercury team will continue to operate from their offices in New York, London, Boston, Chicago, San […]

BelHealth Promotes Spero

BelHealth Promotes Spero

BelHealth Investment Partners has promoted Jonathan Spero to Vice President. Mr. Spero joined BelHealth in 2015 and previously served as a senior associate and associate. During his time at BelHealth, Mr. Spero has contributed to the firm in many ways including origination and structuring to due diligence, execution and portfolio company monitoring. He has supported […]

Arbor Expands New York Office

Arbor Expands New York Office

Arbor Investments, a specialist investor in the food and beverage sectors, has hired Christopher Tuffin as a partner in the firm’s New York office. Mr. Tuffin will be responsible for deal origination, transaction execution and portfolio management. Mr. Tuffin joins Arbor from Bank of America Merrill Lynch (BAML), where he was a director in the […]

Debt Stays in the Driver’s Seat

Debt Stays in the Driver’s Seat

As the current M&A cycle in the lower middle market marches onward, first-quarter 2019 data shows the continuation of a familiar pattern, where valuation multiples bounce off the ceiling set by leverage availability and willingness of sponsors to over-equitize transactions (or not), according to GF data’s recently published May report. Two hundred private equity sponsors […]

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