For more information on Griffin’s services in general, contact any one of our investment banking professionals. Four of the ten biggest private equity funds that closed last year were dedicated to secondaries. In 2020 alone, secondaries funds raised 100 billion. Forty years later, the biggest secondaries fund of all, managed by Ardian, has 19 billion in capital. Delaney, Senior Managing Director, at 646.254.6397 or Mitch Fenimore, Senior Vice President, at 646.254.6395. Complex secondaries transfers, including tender offers and stapled secondary commitments Fund restructurings, GP replacements and private fund special. The first secondaries fund in history raised a mere 6 million in capital back in 1981. This successful outcome provided liquidity to Fund I investors, and allows Superior the opportunity to manage the remaining Fund I portfolio and commit primary capital to new investments.įor more information on this transaction, please contact Paul F. After selecting the successful bidder and upon conclusion of the tender offer process, approximately 80% of the Fund I limited partners accepted the offer. Griffin approached a broad group of institutional investors during the process. In this article, we shall look the mechanisms of wound healing, factors affecting healing, and wound infection. In both types, there are four stages which occur haemostasis, inflammation, proliferation, and remodelling. Griffin initiated a competitive process to identify an institutional investor willing to purchase the limited partner interests of all Fund I investors and also commit fresh primary capital to new investment opportunities generated by Superior’s investment team. The article discusses some common deal terms for the restructurings, in which private equity sponsors obtain capital from new LP investors who, as part of the process, also acquire LP interests from existing fund investors, and outlines some best practices for sponsors to use to help avoid SEC scrutiny. There are two main types of healing, primary intention and secondary intention. Griffin advised Superior to run a secondary tender offer process to provide a liquidity option to Fund I limited partners as well as to find a new institutional investor willing to commit new primary capital to Superior, thus allowing Superior to continue to manage the existing Fund I portfolio and make new investments. Superior was evaluating options to provide liquidity to the limited partners in The Superior Fund, L.P., a 2008 vintage fund, and retained Griffin Financial Group to act as its exclusive secondary advisor and placement agent. The Superior team, along with its Executive Advisors, works closely with the companies to restructure and position them for growth. Superior focuses on companies with revenues between $10 and $150 million that are based in the Midwest and eastern United States. Superior targets opportunities where the combination of an improved capital base and exceptional management will lead to profitable gro wth and out-sized returns. Superior Capital Partners, headquartered in Detroit, Michigan, makes control equity investments in lower middle market companies that are underperforming or undercapitalized. Griffin Advises Superior Capital Partners on Successful Stapled Secondary Tender Offer
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