A Fond Farewell and Look Back at Eight Years

[wsj-responsive-image P="//si.wsj.net/public/resources/images/BN-NS209_PM_Bea_P_20160425135139.jpg" J="//si.wsj.net/public/resources/images/BN-NS209_PM_Bea_J_20160425135139.jpg" M="//si.wsj.net/public/resources/images/BN-NS209_PM_Bea_M_20160425135139.jpg" caption="" credit="iStockphoto.com/Dennis Oblander" placement="Inline" suppressEnlarge="false" ] By the Private Equity Beat staff We’re moving to a spiffy homepage at WSJ Pro Private Equity. Parting ways with our readers after nearly eight years—not even as long as some private equity hold periods—would be tragic, so we hope you will join us on our new adventure. This blog, launched in January 2009, isn’t nearly as old as the typical end-of-life private equity fund. But in less than a decade, it’s followed private equity firms as they have gone public, former presidential hopeful Mitt Romney’s return to private equity, and pension funds’ fight (and failed bids) for more transparency from general partners. As an experiment, we went cold turkey off of private equity-backed products for a week, highlighting the industry’s sway over the myriad of companies Continue reading "A Fond Farewell and Look Back at Eight Years"

In China, Firms Face Competition as Tech Businesses Target Health Care

Health care-focused, private-equity investors in China are facing competition and forging partnerships as Chinese technology companies seek to leverage their dominance on all things digital in the provision of care. But consultant Bain & Co. said private-equity investors looking for opportunities in the emerging market’s health-care sector aren’t squeezed out. “The Internet health-care sector is still small,” said Vikram Kapur, a Bain & Co. partner based in Hong Kong. “The bulk of investments in health care in China is still in biopharma and service providers like hospitals, and that’s where a lot of foreign investors bring in not just capital, but also access to expertise and relationship[s]. That helps to take some of the local services to the next level.” Three prominent Chinese technology companies have each made health-care investments in recent years, sometimes in collaboration with private equity. Tencent Holdings led a $100 million investment round for mobile Continue reading "In China, Firms Face Competition as Tech Businesses Target Health Care"

The Morning Leverage: Brazos Sheds Apparel Brand Southern Tide

[wsj-responsive-image P="//si.wsj.net/public/resources/images/BN-NH707_ML_mai_P_20160329142525.jpg" J="//si.wsj.net/public/resources/images/BN-NH707_ML_mai_J_20160329142525.jpg" M="//si.wsj.net/public/resources/images/BN-NH707_ML_mai_M_20160329142525.jpg" caption="" credit="Mike Lucas for Dow Jones" placement="Inline" suppressEnlarge="false" ] From this morning’s LBO Wire: Brazos Private Equity Partners LLC sold apparel brand Southern Tide LLC to clothing maker Oxford Industries, Laura Cooper reports. A filing with the Securities and Exchange Commission states Oxford acquired the company for $85 million. Southern Tide, of Greenville, S.C., sells its Southern style apparel through its website and at Nordstrom, Von Maur and more than 850 retailers in more than 45 states as well as Washington, D.C., the Virgin Islands and Bermuda. More stories available to LBO Wire subscribers: Webster Capital has hired investment bank Goldman Sachs Group Inc. to explore a sale of Epic Health Services Inc., a pediatric-focused home-health-care company, writes Amy Or…Trivest Partners is rounding up commitments for a new growth equity fund Continue reading "The Morning Leverage: Brazos Sheds Apparel Brand Southern Tide"

The Morning Leverage: Battery to Buy Check Image Software Company

[wsj-responsive-image P="//si.wsj.net/public/resources/images/BN-NH707_ML_mai_P_20160329142525.jpg" J="//si.wsj.net/public/resources/images/BN-NH707_ML_mai_J_20160329142525.jpg" M="//si.wsj.net/public/resources/images/BN-NH707_ML_mai_M_20160329142525.jpg" caption="" credit="Mike Lucas for Dow Jones" placement="Inline" suppressEnlarge="false" ] From this morning’s LBO Wire: Battery Ventures said agreed to acquire Goldleaf Enterprise Payments Inc., a payment software provider, publicly-traded financial technology company Jack Henry & Associates, Laura Cooper reports. Goldleaf, which will change its name to Alogent, offers software that focuses on electronically capturing, processing and analyzing check data and images. Battery General Partner Russell Fleischer said his firm believes the company will be a platform to make acquisitions in the branch-deposit capture and broader banking services sectors, among others. More stories available to LBO Wire subscribers: BBH Capital closed its fifth fund with $802 million…Private equity health-care deal value dropped in 2015 although distressed opportunities may pick up this year…And Private equity–backed oil and gas deals fell during the first quarter. (LBO Wire is Continue reading "The Morning Leverage: Battery to Buy Check Image Software Company"

The Morning Leverage: EIG Global Energy Caught by Breitburn’s Liquidity Woes

[wsj-responsive-image P="//si.wsj.net/public/resources/images/BN-NH707_ML_mai_P_20160329142525.jpg" J="//si.wsj.net/public/resources/images/BN-NH707_ML_mai_J_20160329142525.jpg" M="//si.wsj.net/public/resources/images/BN-NH707_ML_mai_M_20160329142525.jpg" caption="" credit="Mike Lucas for Dow Jones" placement="Inline" suppressEnlarge="false" ] From this morning’s LBO Wire: EIG Global Energy Partners is starting to feel the pinch from the liquidity issues faced by oil and gas company Breitburn Energy Partners, reports Shasha Dai. EIG and co-investors pledged up to $1 billion in preferred stock and debt to the company in March 2015. Breitburn said it is suspending dividend payments on preferred stock and skipping interest payments on certain bonds. The company has 30 days to pay up or it will trigger a default. However, Ms. Dai notes that EIG could have some downside protection should Breitburn enter into a restructuring. More stories available to LBO Wire subscribers: Kohlberg & Co. agreed to buy American Capital-backed behavioral health care provider The Meadows of Wickenburg LP…North Castle Partners collected at least Continue reading "The Morning Leverage: EIG Global Energy Caught by Breitburn’s Liquidity Woes"

The Morning Leverage: Brookfield Raises at Least $3.38B for Restructuring Fund

[wsj-responsive-image P="http://si.wsj.net/public/resources/images/BN-NH707_ML_mai_P_20160329142525.jpg" J="http://si.wsj.net/public/resources/images/BN-NH707_ML_mai_J_20160329142525.jpg" M="http://si.wsj.net/public/resources/images/BN-NH707_ML_mai_M_20160329142525.jpg" caption="" credit="Mike Lucas for Dow Jones" placement="Inline" suppressEnlarge="true" ] From this morning’s LBO Wire: Brookfield Capital Partners raised at least $3.38 billion so far for its fourth fund to buy distressed companies, writes Chris Cumming. The firm, the private equity arm of Toronto-based Brookfield Asset Management, didn’t list a target for Brookfield Capital Partners IV LP in a filing with the Securities and Exchange Commission. However, a New Jersey state pension document last year said the firm is seeking $3.5 billion. Brookfield Capital funds invest in distressed or underperforming companies in Canada and the U.S. More stories available to LBO Wire subscribers: SV Life Sciences Advisers and Health Enterprise Partners formed Jet Health Inc. as the two firms seek to tap into growing demand among patients for medical treatment at home, Amy Or Continue reading "The Morning Leverage: Brookfield Raises at Least $3.38B for Restructuring Fund"

The Morning Leverage: Aquiline, Genstar Sell AssetMark to China’s Huatai Securities

[wsj-responsive-image P="http://si.wsj.net/public/resources/images/BN-NH707_ML_mai_P_20160329142525.jpg" J="http://si.wsj.net/public/resources/images/BN-NH707_ML_mai_J_20160329142525.jpg" M="http://si.wsj.net/public/resources/images/BN-NH707_ML_mai_M_20160329142525.jpg" caption="" credit="Mike Lucas for Dow Jones" placement="Inline" suppressEnlarge="false" ] From this morning’s LBO Wire: AssetMark Inc., a financial technology company backed by Aquiline Capital Partners and Genstar Capital, found a new owner in Chinese brokerage company Huatai Securities LLC, Laura Cooper reports. The deal, slated to close before the end of the year, allows Aquiline and Genstar to exit the company about three years after they acquired it from Genworth Financial for some $412.5 million. Concord, Calif.-based AssetMark provides investment, relationship and practice management services to financial advisers. More stories available to LBO Wire subscribers: Carlyle Group raised $1.5 billion for its second fund focused on power assets…Level Equity is leading a $35 million growth funding round in vacation rental company Vacasa…And Kayne Anderson pledged $250 million to back newly formed oil and Continue reading "The Morning Leverage: Aquiline, Genstar Sell AssetMark to China’s Huatai Securities"