Leonard Green Closes Fund 6 at $6.25 Billion

Leonard Green Closes Fund 6 at $6.25 Billion

Leonard Green & Partners has held a closing of the firm’s sixth private equity investment fund, Green Equity Investors VI, L.P., substantially above target and at its hard cap of $6 billion in limited partner commitments along with $250 million from affiliates of the firm. Investors in Fund 6 include domestic and international pension funds, […]

Levine Leichtman Completes Two Dividend Recapitalizations

Levine Leichtman Completes Two Dividend Recapitalizations

Levine Leichtman Capital Partners announced today that two of its portfolio companies – Tronair and Global Franchise Group – were recently recapitalized resulting in a significant return of capital to the firm’s limited partners. Tronair raised a $50 million senior credit facility in May 2012. Proceeds of the transaction were used to refinance existing debt, […]

Breakwater Completes Financing of WebXU

Breakwater Completes Financing of WebXU

Breakwater Investment Management has provided senior secured bridge financing for WebXU, an operator of consumer-branded websites and online businesses. “We approached Breakwater for a bridge loan and additional growth capital financing following our recent acquisition of Lot 6 Media,” said Matt Hill, Chairman and CEO of WebXU. “This financing from Breakwater frees up working capital […]

NXT Capital Increases Debt Capacity to $1.6 Billion

NXT Capital Increases Debt Capacity to $1.6 Billion

NXT Capital has increased its total debt financing capacity to $1.6 billion and expanded its senior secured revolving credit facility from $650 million to $740 million. “The recent upsizing of the credit facility and successful issuance of NXT’s first CLO further diversify NXT Capital’s financing sources and provide over $1 billion in debt capacity for […]

Thomas H. Lee Partners Announces Departure of Vice Chairman

Thomas H. Lee Partners Announces Departure of Vice Chairman

Thomas H. Lee Partners has announced that Scott Schoen has stepped down as Vice Chairman of the firm, effective earlier this month. Mr. Schoen will remain a Senior Advisor to the firm. “It has been a privilege to work with my colleagues at THL, our portfolio companies and our limited partners over the last 26 […]

E&Y: Bribery a Surprising Option for Some Senior Executives

E&Y: Bribery a Surprising Option for Some Senior Executives

The competitive landscape continues to be distorted by unethical conduct. More than one-third of the respondents believe corruption is widespread in their country and this is perceived to be significantly higher in rapid-growth markets (e.g., Brazil – 84 percent, Indonesia – 72 percent, Turkey – 52 percent). Financial statement fraud remains an important risk across […]

Neil Wessan Appointed New Group Head of CIT Capital Markets

Neil Wessan Appointed New Group Head of CIT Capital Markets

CIT Group has announced the appointment of Neil Wessan as Managing Director and Group Head of CIT Capital Markets which is responsible for structuring, pricing and distributing all financial products originated by CIT. Mr. Wessan will report directly to CIT Corporate Finance Co-Heads Pete Connolly and Jim Hudak. “Neil’s nearly three decades of experience in […]

Bryan Armstrong Joins Excellere Partners

Bryan Armstrong Joins Excellere Partners

Excellere Partners has hired Bryan Armstrong as a new associate. Mr. Armstrong will focus on the sourcing, structuring, due diligence and documentation of new platform companies as Excellere invests its recently closed $465 million second fund. In addition, he will provide day-to-day support to colleagues as well as management members of Excellere’s current portfolio companies. […]

Is a “flood of deal activity” on its way?

Is a “flood of deal activity” on its way?

In its latest report on the private equity industry, GF Data reports that deal volume in the first quarter of 2012 exceeded expectations. The active contributors to GF Data’s reports – 167 middle-market private equity firms – reported on 45 deals completed in the first quarter of 2012, down slightly from the 50 completed deals […]

Dale Cheney Joins Altus Capital Partners

Dale Cheney Joins Altus Capital Partners

Altus Capital Partners has added Dale Cheney as a new Principal in the firm. Mr. Cheney will be responsible for sourcing and closing new investments and working with Altus’ three partners in managing its existing portfolio. “We are pleased to have an experienced professional like Dale join our Altus team to contribute to our success […]