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Francisco Closes On $10 Billion

Francisco Partners has held a final closing of three funds, two equity funds and one credit fund, with an aggregate $10 billion of capital. The three new funds are Francisco Partners VI LP with $7.45

Raymond James Expands Investment Banking Team

Raymond James has added Andy Schwartz to its investment banking team as a managing director and co-head of its newly formed commercial and industrial services sector team. Mr. Schwartz has long been active in the

US Labor department allows private equity in 401(k) plans

Firms hope the guidance reduces fears of litigation over investing in private markets

MiddleGround Builds Specialty Metals Platform

MiddleGround Capital has completed the acquisition of Supra Alloys and EDGE International from Titan Metal Fabricators. Post-closing, the two businesses will be combined with Banner Industries, a processor and distributor of metal bar products that

H.I.G. Invests in Specialty Chemical Maker

H.I.G. Capital has made an investment in USALCO, a provider of specialty chemicals. The investment in USALCO is H.I.G.’s tenth current platform in the chemical sector. USALCO (United States Aluminate Company) is a manufacturer of

Mike Kay Joins Angeles Equity

Angeles Equity Partners has added Mike Kay to its team as a new operating partner. Mr. Kay has experience across multiple industrial sectors, including automotive, aerospace and defense. Before joining Angeles Equity, Mr. Kay was

KKR Raises $4 Billion for Special Credit Opportunities

KKR has raised $4 billion in new capital to invest in credit opportunities created by the recent market volatility. The new capital includes $2.8 billion through its KKR Dislocation Opportunities Fund LP and just over

AEA Closes Seventh Pexco Add-On

Pexco, a specialty plastics extruder and a portfolio company of AEA Investors, has acquired Exlon Extrusion. Exlon is an extruder of plastic tubing with a specialization in high-performance polymer products including custom and proprietary lines

Private Equity Can’t Always Get What It Wants

Buyout firms are lobbying lawmakers in Washington for coronavirus assistance, but have come up short in at least one big way.

PLN makes return for capex loan

Indonesian state-owned electricity company Perusahaan Listrik Negara is planning a return to the market for a new $1bn loan.

Baker Bros bags $340m from BeiGene block

Baker Bros Advisors, a shareholder in Chinese biopharmaceutical company BeiGene, has raised $340.1m from a sell-down of the firm’s American depositary shares.

Startup Governance

Posted by Elizabeth Pollman (University of Pennsylvania), on Tuesday, January 14, 2020 Editor's Note: Elizabeth Pollman is Professor of Law at University of Pennsylvania Law School. This post is based on her article, recently published

JD-backed Dada Nexus targets $522m from ADS follow-on

Chinese firm Dada Nexus has launched a follow-on offer of its Nasdaq-listed American depository shares (ADS). The deal could raise around $521.6m.

Tannenbaum to run EMEA cap markets at BofA

Bank of America has promoted Jeff Tannenbaum, its head of debt capital markets and leveraged finance EMEA, to head of global capital markets for the region.

Nio drives away with $1.5bn from bigger follow-on

Chinese smart electric vehicle maker Nio has raised $1.5bn in fresh equity after increasing its follow-on offering of American Depository Shares (ADS).

Together but Separate: Private Equity Funds Liability for Portfolio Company Pension Obligations

Posted by Rick Giovannelli and Ali U. Nardali, K&L Gates LLP, on Sunday, December 15, 2019 Editor's Note: Rick Giovannelli and Ali U. Nardali are partners at K&L Gates LLP. This post is based on

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