Lexington Partners

Silver Lake to Take Endeavor Private

Retrieved on: 
Tuesday, April 2, 2024
General Sports, Sports, Finance, General Entertainment, Professional Services, Events, Concerts, Licensing (Sports), Entertainment, MSD, Barclays, Goldman Sachs, TKO, Simpson Thacher & Bartlett, Endeavor Group Holdings, EDR, Royal Bank of Canada, Latham & Watkins, Telecommunications, Committee, Partnership, WWE, Royal Bank, Lexington Partners, Cravath, Swaine & Moore, VWAP, Endeavor (company), Centerview Partners, Kirkland & Ellis, Bank of America, BofA Securities, Sport, Acquisition, RBC Capital Markets, Whitesell, Growth, IMG, BDT, Deutsche Bank, Bank, LLP, Mubadala Investment Company, Martha Plimpton, Music, UFC, Management

Silver Lake believes that when consolidating all of TKO’s value into Endeavor, the combined total enterprise value of $25 billion will make this the largest private equity sponsor public-to-private investment transaction in over a decade, and the largest ever in the media and entertainment sector.

Key Points: 
  • Silver Lake believes that when consolidating all of TKO’s value into Endeavor, the combined total enterprise value of $25 billion will make this the largest private equity sponsor public-to-private investment transaction in over a decade, and the largest ever in the media and entertainment sector.
  • On the unaffected date, the equity value was $8.2 billion, and the premium to be paid by Silver Lake represents $4.6 billion more equity value to all Endeavor stockholders.
  • Ariel Emanuel, CEO of Endeavor, said: "Since 2012, Endeavor’s strategic partnership with Silver Lake and Egon Durban have been central to our evolution into the global sports and entertainment leader we are today.
  • Egon, Stephen, and the broader Silver Lake team have been and will continue to be phenomenal partners in Endeavor’s journey, and we look forward to the road ahead.”
    Stephen Evans, Managing Director of Silver Lake and a Director of Endeavor, said: “The team at Silver Lake is proud of our longstanding partnership with Endeavor, marked by more than $3.5 billion of direct investment across six distinct transactions over 12 years.

Hildred Capital Announces Close of Multi-Asset Continuation Fund with Capital Commitments in Excess of $750 Million

Retrieved on: 
Thursday, March 28, 2024
Professional Services, Finance, Entrepreneurship, Environment, Health, Partnership, Trust, Capital, Lexington Partners, Kirkland & Ellis, Security (finance)

The continuation fund, Hildred Perennial Partners I, L.P., was established to acquire two healthcare consumer product focused companies—Hyland’s Naturals (“Hyland’s”) and Crown Laboratories (“Crown”)—from Hildred’s first and second funds.

Key Points: 
  • The continuation fund, Hildred Perennial Partners I, L.P., was established to acquire two healthcare consumer product focused companies—Hyland’s Naturals (“Hyland’s”) and Crown Laboratories (“Crown”)—from Hildred’s first and second funds.
  • The $750 million continuation fund includes significant unfunded capital to help drive organic growth initiatives and strategic acquisitions at these companies.
  • The continuation fund was structured in a manner to ensure a strong alignment of interests between the general partnership and limited partners.
  • David Solomon, Co-Founder and Managing Partner of Hildred, said, “We are very pleased to announce the successful close of this oversubscribed continuation fund in what continues to be a challenging fundraising environment.

Wellspring Announces Closing of $975 Million Continuation Fund Partnering with Lexington Partners, Neuberger Berman, Hamilton Lane and AltamarCAM

Retrieved on: 
Wednesday, March 27, 2024
Wellspring, Lexington Partners, Investment, Financial services

The continuation fund transaction was co-led by investment funds affiliated with Lexington Partners and Neuberger Berman and supported by a diverse group of institutional investors, including Hamilton Lane, AltamarCAM Partners, certain Fund VI limited partners and a large commitment from the Wellspring general partner.

Key Points: 
  • The continuation fund transaction was co-led by investment funds affiliated with Lexington Partners and Neuberger Berman and supported by a diverse group of institutional investors, including Hamilton Lane, AltamarCAM Partners, certain Fund VI limited partners and a large commitment from the Wellspring general partner.
  • All limited partners in Fund VI were provided the option to cash out of their interests in the assets or roll their interests into the continuation fund at the same terms as Fund VI.
  • The $975 million continuation fund includes $125 million of unfunded capital to drive organic growth initiatives and strategic acquisitions at these companies.
  • Wellspring specializes in middle-market control investments in the U.S. primarily in the healthcare, packaging and business services sectors.

Alpine Investors Closes $3.4 Billion Single-Asset Continuation Transaction to Support Continued Growth of Apex Service Partners

Retrieved on: 
Wednesday, October 25, 2023
Professional Services, HVAC, Manufacturing, Finance, Construction & Property, Asset Management, Building Systems, LP, J. P. Morgan, VII, HarbourVest Partners, Lexington Partners, Software, Multimedia, Growth, Partnership, Kirkland & Ellis, CFO, A. J. Brown, Matson, Investment, Pantheon, Security (finance), Management, Apex, Alpine

The announcement follows the recent close of Alpine’s latest fund, Alpine Investors IX (“Fund IX”) , which reached the fund’s hard cap of $4.5 billion of LP commitments.

Key Points: 
  • The announcement follows the recent close of Alpine’s latest fund, Alpine Investors IX (“Fund IX”) , which reached the fund’s hard cap of $4.5 billion of LP commitments.
  • "Apex has a unique model that is built on combining leading brands with exceptional people,” said Graham Weaver, Founder and CEO of Alpine Investors.
  • “The result is that Apex creates outstanding experiences for its customers and continues to experience explosive growth.
  • “In just four years, Apex Service Partners has built a leading national business by serving as a force multiplier for the incredible employees and leading local brands within our platform,” said AJ Brown, CEO of Apex Service Partners.

Wells Fargo Sells Private Equity Fund Investments

Retrieved on: 
Friday, September 29, 2023
Banking, Professional Services, Finance, Partnership, Norwest Venture Partners, Lazard, Fargo, Wells Fargo, AlpInvest Partners, Multimedia, WFC, Pantheon, Investment, NMP, NEP, Lexington Partners, NYSE, Financial services

Wells Fargo & Company (NYSE: WFC) announced today that it has sold to a group of leading investors approximately $2 billion of private equity investments in certain Norwest Equity Partners (NEP) and Norwest Mezzanine Partners (NMP) funds.

Key Points: 
  • Wells Fargo & Company (NYSE: WFC) announced today that it has sold to a group of leading investors approximately $2 billion of private equity investments in certain Norwest Equity Partners (NEP) and Norwest Mezzanine Partners (NMP) funds.
  • View the full release here: https://www.businesswire.com/news/home/20230929585934/en/
    Facade of a Wells Fargo bank branch in Manhattan (Photo: Wells Fargo)
    “With this transaction, we are continuing with our strategic efforts to focus on Wells Fargo’s core businesses and customers,” said Wells Fargo Chief Financial Officer Mike Santomassimo.
  • “We are incredibly grateful to Wells Fargo for their long-term partnership and continued support,” said Tim DeVries, NEP Managing Partner.
  • Separately, Wells Fargo will continue its relationship and investments with Norwest Venture Partners, a venture capital and growth equity investment firm.

Franklin Templeton Announces Alternative Investment Initiatives

Retrieved on: 
Wednesday, September 13, 2023
Podcast, Personal Finance, Finance, Asset Management, Professional Services, Education, Training, Entertainment, CE, Chartered Alternative Investment Analyst, CFA, Alternative education, Clarion Partners, Research, AUM, Partner, Investment, Franklin Templeton Investments, Alternatives, Ecosystem, Lexington Partners, Financial adviser

Franklin Templeton has debuted a new initiative to showcase its expertise in alternative investment strategies, including a new Alternatives by Franklin Templeton digital experience , the Alternative Allocations podcast hosted by 35-year alts veteran Tony Davidow, and an award-winning continuing education (CE) program.

Key Points: 
  • Franklin Templeton has debuted a new initiative to showcase its expertise in alternative investment strategies, including a new Alternatives by Franklin Templeton digital experience , the Alternative Allocations podcast hosted by 35-year alts veteran Tony Davidow, and an award-winning continuing education (CE) program.
  • The goal of the Alternatives by Franklin Templeton digital experience and related efforts is to help accelerate financial advisor adoption of alternatives, especially private market investments.
  • Host Tony Davidow is a Senior Alternatives Investment Strategist with the Franklin Templeton Institute , an innovative hub for research and knowledge sharing that unlocks the firm’s competitive advantage as a source of global market insights.
  • The Franklin Templeton Academy offers content that is developed and delivered by Franklin Templeton’s alternatives experts through its Alternatives Education program, a robust learning suite aimed at helping financial professionals expand their knowledge of alternative investments and navigate the growing space with confidence.

Insight Partners Announces Close of Continuation Fund II

Retrieved on: 
Thursday, May 18, 2023
HarbourVest Partners, Insight Partners, Partnership, Like a Boss (film), Scale, Willkie Farr & Gallagher, LP record, Ropes & Gray, Lazard, Growth, Lexington Partners, Insight, Bank

NEW YORK, May 18, 2023 /PRNewswire/ -- Global software investor, Insight Partners, today announced the closing of its Continuation Fund II with HarbourVest Partners and Lexington Partners leading a group of limited partners investing in the fund. The transaction closed with total commitments of approximately $1.3 billion.  

Key Points: 
  • Deepening a longstanding partnership with HarbourVest Partners and Lexington Partners as lead investors, Insight Partners has closed its Continuation Fund II with a diversified, high-quality portfolio of assets
    NEW YORK, May 18, 2023 /PRNewswire/ -- Global software investor, Insight Partners, today announced the closing of its Continuation Fund II with HarbourVest Partners and Lexington Partners leading a group of limited partners investing in the fund.
  • Continuation Fund II was established to acquire stakes in software companies across 6 Insight funds to support their continued growth while providing liquidity to Insight's Limited Partners (LPs).
  • Leveraging one of the software industry's largest data sets, Insight Partners' pattern recognition and rigorous diligence process is the backbone of its investment approach and fuels each fund.
  • "HarbourVest is pleased to have expanded our long-standing partnership with Insight in co-leading the Continuation Fund II transaction," said Mike Pugatch, Managing Director at HarbourVest.

Moonfare Core Portfolio II closes at milestone €100m+ in capital

Retrieved on: 
Tuesday, May 16, 2023
Personal Finance, Finance, Professional Services, Asset Management, Fintech, Heart, Core, Lexington Partners, EQT, Pulse, Permira, Investment, Geography, Fine chemical, Cryptocurrency, Financial services

Global private equity platform Moonfare has hit a strategic milestone with the final close of its second core portfolio, Moonfare Core Portfolio II (Core II), which surpassed its fundraising target, propelling a proprietary Moonfare portfolio beyond the €100m mark for the first time.

Key Points: 
  • Global private equity platform Moonfare has hit a strategic milestone with the final close of its second core portfolio, Moonfare Core Portfolio II (Core II), which surpassed its fundraising target, propelling a proprietary Moonfare portfolio beyond the €100m mark for the first time.
  • Designed to sit at the heart of an individual’s private investments portfolio, it offers access to buyout and buyout-related strategies, such as secondaries and co-investments, one of the most established areas of private equity.
  • Pauls said, “Top-flight buyout funds have historically offered high risk-adjusted returns, with higher returns and lower volatility than public equity markets.
  • The portfolio’s first vintage, Moonfare Core Portfolio I, closed in 2020 at €75m, 50% over target.

Franklin Templeton Expands U.S. Wealth Management Alternatives Distribution Team with Addition of Candice Kemeny and Jared Abert

Retrieved on: 
Wednesday, May 3, 2023
Asset Management, Professional Services, Finance, National accounts, CAIA, Abert, CFA, Senior, LaSalle Investment Management, International business development, RIA, Kemény, Alternative investment, Risk management, CTA, Clarion Partners, Franklin Templeton Investments, Commodity, Goldman Sachs, AUM, International business, Invesco, Lexington Partners, Registered investment adviser, Chartered Alternative Investment Analyst, CBI Bank & Trust, Financial adviser

Franklin Templeton today announced the appointment of Candice Kemeny as Senior Vice President, National Account Manager – Alternatives, and Jared Abert as Director, Alternative Investments – Midwest for the Registered Investment Advisor (RIA) & Bank Trust channel.

Key Points: 
  • Franklin Templeton today announced the appointment of Candice Kemeny as Senior Vice President, National Account Manager – Alternatives, and Jared Abert as Director, Alternative Investments – Midwest for the Registered Investment Advisor (RIA) & Bank Trust channel.
  • Wealth Management Alternatives distribution team, Kemeny and Albert will serve as key liaisons with clients to increase the adoption of comprehensive alternative investment solutions within the U.S. market.
  • Kemeny joined the firm at the end of March, and Abert joined in May.
  • “We are pleased to have Candice and Jared join our distribution team as we continue to expand the roster of talent to support our dedicated Alternatives by Franklin Templeton platform.

LMP Expands Leadership Team with Promotions of Irene Hong Edwards and Timothy Rampe to Partner

Retrieved on: 
Thursday, January 12, 2023
Professional Services, Finance, Mentorship, Economics, Lindsay, Keefe, Bruyette & Woods, General counsel, Lovell Minnick Partners, Bachelor of Business Administration, Partnership, Columbia University, Jefferies, Business, LMP, Associate, MBNA, University, Temple University, Japan Campus, Private practice, Administration, Culminating project, Insurance, KPMG, Female, Business administration, Bryant University, Temple University Beasley School of Law, Controller, Georgetown University, KPS Capital Partners, Office administration, Diversity, Temple University, Investment, CPA, Head of Administration, University of Colorado Denver Business School, Corporate finance, Marketing, KPMG LLP, Harvard Law School, Lexington Partners, LBO valuation model, Management, Financial services, Partner, Finance

Lovell Minnick Partners (“LMP”), a private equity firm with a 20+ year track record of partnering with growth-oriented companies, today announced the expansion of its leadership team with the promotions of Irene Hong Edwards and Timothy Rampe to Partner.

Key Points: 
  • Lovell Minnick Partners (“LMP”), a private equity firm with a 20+ year track record of partnering with growth-oriented companies, today announced the expansion of its leadership team with the promotions of Irene Hong Edwards and Timothy Rampe to Partner.
  • “LMP values the importance of developing best-in-class talent and we are excited to recognize the contributions of Irene and Tim with these well-deserved promotions to Partner.
  • Irene and Tim have proven to be invaluable members of the LMP team and have been instrumental to LMP’s growth and success,” said Steve Pierson, Managing Partner at LMP.
  • Mr. Rampe joined the Philadelphia office of LMP in 2018 as the firm's General Counsel and Chief Compliance Officer.