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Lexington Partners
Lexington Partners is the largest independent manager of secondary acquisition and co-Investment funds in the world, founded in 1994. Lexington manages approximately $55 billion of which an unprecedented $14 billion was committed to the firm's ninth fund (Lexington Capital Partners IX, closed in January 2020). This renders it the largest dedicated secondaries pool of capital ever raised at the time. Lexington Partners was founded by Brent R. Nicklas.AVCJ Intervie A Private Word With Brent Nickla/ref> Formerly a founding member of Landmark Partners, Nicklas helped pioneer the formation of the secondary market and was involved in some of the earliest secondary deals dating back to 1993. Lexington Partners is headquartered in New York with offices in Boston, Menlo Park, London, Hong Kong, Santiago, São Paulo and Luxembourg. On November 1, 2021, Franklin Templeton announced they would acquire 100.0% of Lexington Partners in a $1.75billion cash deal. This acquisition was finalize ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
399 Park Avenue
399 Park Avenue is a 41-story office building that occupies the entire block between Park Avenue and Lexington Avenue and 53rd Street and 54th Street in Midtown Manhattan, New York City. The building was the world headquarters of Citigroup from 1961 when it moved from 55 Wall Street until 2015 when the company moved to 388 Greenwich Street. History The building lot was assembled by Vincent Astor who initially planned to build a 46-story Astor Plaza on the site. Astor had problems completing the assembly of the lots of mostly residential buildings as a pharmacy held out. In 1974, the company opened the Citigroup Center annex across Lexington to the east. In 1987, Citigroup sold one third of its interest in the building along with two-thirds of its interest in Citigroup Center to Dai-Ichi Mutual Life Insurance Company for $670 million. At the time, Citigroup said it was moving many of its offices to One Court Square in Long Island City, Queens. Citigroup moved out of the top two ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reuters
Reuters ( ) is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world. The agency was established in London in 1851 by the German-born Paul Reuter. It was acquired by the Thomson Corporation of Canada in 2008 and now makes up the media division of Thomson Reuters. History 19th century Paul Reuter worked at a book-publishing firm in Berlin and was involved in distributing radical pamphlets at the beginning of the Revolutions in 1848. These publications brought much attention to Reuter, who in 1850 developed a prototype news service in Aachen using homing pigeons and electric telegraphy from 1851 on, in order to transmit messages between Brussels and Aachen, in what today is Aachen's Reuters House. Reuter moved to London in 1851 and established a news wire agency at the London Royal Exchange. Headquartered in London, Reuter' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Partners Group
Partners Group Holding AG is a Swiss-based global private equity firm with US$127 billion in assets under management in private equity, private infrastructure, private real estate and private debt. The firm manages a broad range of funds, structured products and customized portfolios for an international clientele of institutional investors, private banks and other financial institutions. The firm has completed more than 250 private equity investments in portfolio companies. As end of 2021, Partners Group is the fifth most-valuable publicly listed private markets firm in the world by market capitalization. Since 2020 Partners Group is a component of the Swiss Market Index. History Founded in 1996, the firm is headquartered in Zug, Switzerland with global offices. In 2019, the firm opened its 129,400-square-foot North American headquarters in Broomfield, Colorado. Partners Group is a joint stock company under Swiss law, listed on the Swiss Exchange since its 2006 initial pub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HarbourVest Partners
HarbourVest Partners is a private equity fund of funds and one of the largest private equity investment managers globally. The firm invests in all types of private equity funds, including venture capital and leveraged buyout funds, and also directly in operating companies. Founded in 1982 as Hancock Venture Partners, a subsidiary of John Hancock Insurance, HarbourVest is based in Boston, Massachusetts with offices in Beijing, Bogota, Seoul, Tel Aviv, Tokyo, Toronto, London and Hong Kong. HarbourVest has approximately 80 investment professionals globally and manages approximately $75 billion of investor commitments. Investors in HarbourVest funds include various types of institutional investors such as public and corporate pension funds, endowments, foundations and financial institutions. In 2001, HarbourVest Partners was inducted into the Private Equity Hall of Fame. Investments According to the companies SEC 13F-HR filing in August 2017, the companies investments includ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pantheon Ventures
Pantheon is a private equity, infrastructure, real assets and debt investor that invests on behalf of over 660 investors, including public and private pension plans, insurance companies, endowments and foundations. Founded in 1982, Pantheon has developed an established reputation in primary, direct co-investment and secondary private asset solutions across all stages and geographies. The firm's investment solutions include customized separate account programs, regional & global primary fund programs, secondaries and co-investment programs. Pantheon manages traditional limited partnership fund vehicles as well as vehicles tailored to the specific requirements of the U.S. private wealth and defined contribution pension markets, and also to investors in UK-listed investment companies, the latter through Pantheon International. Pantheon has over 340 employees with more than US$55 billion in assets under management (as of June 30, 2020). The firm has operated as an affiliate of Affil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HarbourVest
HarbourVest Partners is a private equity fund of funds and one of the largest private equity investment managers globally. The firm invests in all types of private equity funds, including venture capital and leveraged buyout funds, and also directly in operating companies. Founded in 1982 as Hancock Venture Partners, a subsidiary of John Hancock Insurance, HarbourVest is based in Boston, Massachusetts with offices in Beijing, Bogota, Seoul, Tel Aviv, Tokyo, Toronto, London and Hong Kong. HarbourVest has approximately 80 investment professionals globally and manages approximately $75 billion of investor commitments. Investors in HarbourVest funds include various types of institutional investors such as public and corporate pension funds, endowments, foundations and financial institutions. In 2001, HarbourVest Partners was inducted into the Private Equity Hall of Fame. Investments According to the companies SEC 13F-HR filing in August 2017, the companies investments include ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Equity
In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a type of ownership of assets ( financial equity) and is a class of assets (debt securities and equity securities), which function as modes of financial management for operating private companies that are not publicly traded in a stock exchange. Private-equity capital is invested into a target company either by an investment management company (private equity firm), or by a venture capital fund, or by an angel investor; each category of investor has specific financial goals, management preferences, and investment strategies for profiting from their investments. Each category of investor provides working capital to the target company to finance the expansion of the company with the development of new products and services, the restructuring ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Equity Fund
A private equity fund (abbreviated as PE fund) is a collective investment scheme used for making investments in various equity (and to a lesser extent debt) securities according to one of the investment strategies associated with private equity. Private equity funds are typically limited partnerships with a fixed term of 10 years (often with annual extensions). At inception, institutional investors make an unfunded commitment to the limited partnership, which is then drawn over the term of the fund. From the investors' point of view, funds can be traditional (where all the investors invest with equal terms) or asymmetric (where different investors have different terms).Metrick, Andrew, and Ayako Yasuda. "The economics of private equity funds."Review of Financial Studies (2010): hhq020. A private equity fund is raised and managed by investment professionals of a specific private-equity firm (the general partner and investment advisor). Typically, a single private-equity firm wil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limited Partner
A limited partnership (LP) is a form of partnership similar to a general partnership except that while a general partnership must have at least two general partners (GPs), a limited partnership must have at least one GP and at least one limited partner. Limited partnerships are distinct from limited liability partnerships, in which all partners have limited liability. The GPs are, in all major respects, in the same legal position as partners in a conventional firm: they have management control, share the right to use partnership property, share the profits of the firm in predefined proportions, and have joint and several liability for the debts of the partnership. As in a general partnership, the GPs have actual authority, as agents of the firm, to bind the partnership in contracts with third parties that are in the ordinary course of the partnership's business. As with a general partnership, "an act of a general partner which is not apparently for carrying on in the ordinary co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Partner
General partner is a person who joins with at least one other person to form a business. A general partner has responsibility for the actions of the business, can legally bind the business and is personally liable for all the partnership's debts and obligations. Role of a general partner A general partner acts on behalf of a business, and generally has the power to make decisions with or without the permission of the other partners. Due to their managerial role general partners have unlimited liability, which means that a partnership's genera partners are personally responsible for all business debts, meaning that the personal assets of general partners are at potential risk for the debts of the partnership. In the event that a partnership is dissolved, general partners are subject to liquidation, such that their share of the assets of the partnership may be distributed to claimants such as creditors before the partner receives any remaining share. General partner v. limited p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mezzanine Capital
In finance, mezzanine capital is any subordinated debt or preferred equity instrument that represents a claim on a company's assets which is senior only to that of the common shares. Mezzanine financings can be structured either as debt (typically an unsecured and subordinated note) or preferred stock. Mezzanine capital is often a more expensive financing source for a company than secured debt or senior debt. The higher cost of capital associated with mezzanine financings is the result of it being an unsecured, subordinated (or junior) obligation in a company's capital structure (i.e., in the event of default, the mezzanine financing is only repaid after all senior obligations have been satisfied). Additionally, mezzanine financings, which are usually private placements, are often used by smaller companies and may involve greater overall levels of leverage than issues in the high-yield market; they thus involve additional risk. In compensation for the increased risk, mezzanine ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leveraged Buyout
A leveraged buyout (LBO) is one company's acquisition of another company using a significant amount of borrowed money (leverage) to meet the cost of acquisition. The assets of the company being acquired are often used as collateral for the loans, along with the assets of the acquiring company. The use of debt, which normally has a lower cost of capital than equity, serves to reduce the overall cost of financing the acquisition. The cost of debt is lower because interest payments often reduce corporate income tax liability, whereas dividend payments normally do not. This reduced cost of financing allows greater gains to accrue to the equity, and, as a result, the debt serves as a lever to increase the returns to the equity. The term LBO is usually employed when a financial sponsor acquires a company. However, many corporate transactions are partially funded by bank debt, thus effectively also representing an LBO. LBOs can have many different forms such as management buyout (MBO), ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
