Leonard Green & Partners’ cost to LPs per investment staff is higher relative to peers - management fee per capita raises questions about alignment of interest.
Apollo Global Management: Examiner’s Report raises questions about AGM’s conflicts of interest at Caesars Entertainment
Recently, a court-appointed Examiner has raised significant questions about private equity sponsor Apollo Global Management’s numerous conflicts of interest with respect to Caesars Entertainment.
TPG Capital’s and other owners’ $180 million termination fee from Univision hits anniversary, but no exit
On April 14, 2016 Univision hits the one-year anniversary of its $180 million “termination fee,” paid to its private equity owners in 2015. Univision has not yet held a public offering, although it filed for an IPO in July 2015. Over the nine years TPG Capital and a consortium of other private equity firms have […]
Who pays the costs of LGP’s trips to tropical islands, ski destinations, portfolio companies, unconsummated deals? Leonard Green & Partners’ March 2016 ADV brochure amended language about how it bills for private class travel. FAA data shows trips to tropical islands, ski destinations, cities with portfolio companies and other regions. A new report about the […]
Sustainable PE/RE investment in the hospitality industry – Responsible and Irresponsible investment managers – March 2016
Over the past several years, private equity and real estate managers have come to play a growing role in the hospitality industry. UNITE HERE, the union of hospitality employees throughout North America, has been undertaking a proactive approach to achieving labor harmony at private equity-owned companies and properties by reaching out to managers to identify […]
What information does Leonard Green & Partners provide about expenses of its private jet fleet? FAA records of Leonard Green’s three private aircraft showed 1,898 trips over the past four years. Private equity firm Leonard Green & Partners owns three private jets. FAA records of those aircraft show they have been used for 1,898 […]
AEW Core Property Trust faces headwinds from energy industry distress Uncertain impact of new entrants into core RE and proposed FIRPTA changes In marketing materials as recent as June 2015, AEW highlights CPT’s exposure to the energy industry and the Houston market. However, as oil and natural gas prices hit multi-year lows in January 2016, […]
Leonard Green & Partners is marketing its new buyout fund, with a target of $7.5 billion, during a period of growing regulator and limited partner scrutiny. Leonard Green disclosed in 2015 its use of accelerated monitoring and other fees that have been criticized by regulators and investors.
TPG Capital used to dominate buyout fundraising. But TPG has slipped, and its struggle to reach the target for its latest flagship fund may not bode well for the firm’s future plans for growth.
Despite years of private equity ownership by TPG and Leonard Green, PetCo lags its chief competitor, PetSmart