The lesson from FFL’s investment in Crisis Prevention Institute is to not be afraid to take risks with a company that is already performing well.
Gabriel de Alba, Catalyst’s managing director and partner, sees the disruptive impact of the covid-19 outbreak as potentially lasting throughout 2020 and into 2021.
Hillhouse has been talking to limited partners about its fifth fundraising program, which comes in quick time after the firm closed Fund IV on $10.6bn in 2018.
The board approved a $100m commitment to the New Mexico Recovery Fund, managed by private equity firm Sun Mountain Capital.
The $23.58bn pension recently proposed higher spending on PE in the next fiscal year, but is prepared for it to be less.
CVC Capital Partners VIII is targeting just under $19bn.
The request comes as recent public market volatility has caused the pension's value to drop over $3bn.
Across the private equity industry, the impacts of the pandemic-spurred economic downturn are being felt in dealmaking, which has slowed or paused fundraising processes while LPs work to understand the status of their portfolios.
The increased estimated fees are due to greater commitments in the space, and do not include performance fees.
If Gryphon Partners VI meets its $2.7 billion goal, it will be the largest fund in the San Francisco private equity firm’s 25-year history.