September 1, 2015

Is Lone Star Funds building a new Countrywide Financial?

Caliber Home Loans’ massive growth overseen by veterans of disgraced home lender Lone Star Funds has overseen rapid growth in its in-house residential lender Caliber Home Loans. Caliber’s servicing portfolio has ballooned from $6.5 billion in 2012 to $70.3 billion in early 2015. The firm’s massive growth has been fueled in part by Lone Star […]

August 31, 2015

Investors vote no on Walton Street Capital

One reliable measure of a manager’s track record is whether institutional investors choose to re-invest in the manager’s follow-on funds. Walton Street Capital, for its part, has endured a plummeting reinvestment rate since 2011. Only four out of thirty public pension funds known to have invested in Walton Street Real Estate Funds V or VI […]

August 18, 2015

Has LNK Partners disclosed co-investment deals and opportunities to all limited partners?

As LNK Partners seeks to raise up to $460 million for a third private equity fund, LNK Partners III, limited partners should seek clarity around the manager’s co-investment allocation process. Key points: Andrew Bowden, then director of the SEC’s Office of Compliance Inspections and Examinations (OCIE), and Marc Wyatt, Acting Director of the OCIE, made […]

August 3, 2015

Now’s not the time for Walton Street Capital

Investors seeking to increase their private equity real estate allocations may be considering Walton Street Real Estate Fund VIII, the newest flagship fund sponsored by Walton Street Capital. But the manager’s history points to this as the riskiest part of the real estate cycle to invest with Walton Street Capital. Many investors and consultants believe […]

August 3, 2015

Will TPG fee practices and underperformance hinder ambitions?

TPG Capital appears to continue to employ fee practices that have been flagged by regulators as problematic, even as the private equity industry faces increased scrutiny by the SEC, investors and the media.

June 25, 2015

Departed Leonard Green & Partners executives retain board responsibilities

Over the past two years, Leonard Green has lost at least four executives. Departed executives continue to represent LGP on boards of companies in which LGP has an ownership interest.

June 2, 2015

A ‘Rivers’ runs through it: Walton Street insiders’ use of a valuable casino trademark owned by one of its portfolio companies

Walton Street Real Estate Fund VI owns the trademarks to the “Rivers Casino” brand. The trademarks’ federal registrations are held by the first Rivers Casino, a Fund VI portfolio property in Pittsburgh. But affiliates of Walton Street’s co-founding managing principal Neil Bluhm have been using the valuable Fund VI-owned brand for Bluhm’s own growing casino […]

May 29, 2015

Private Equity Firm LNK Partners & Bakery-Café chain Au Bon Pain

Given Au Bon Pain’s underperformance, has LNK Partners valued it properly for limited partners?

May 18, 2015

Letter to the SEC encouraging investigation of Lone Star Funds

UNITE HERE has requested that the SEC investigate fees charged to limited partners by Lone Star Funds and Hudson Advisors, its affiliated servicer.

May 6, 2015

Investment Hazard: Ares Management launches energy fund despite past problems

A new report by UNITE HERE looks at why Ares may face headwinds in a competitive market.