Neuberger Berman Division Closes Fund III with $5.3 Billion

New York and London, February 14, 2017 — Dyal Capital Partners (Dyal), a division of Neuberger Berman Group, announced today that in December it closed Dyal Capital Partners III (PE), its third fund, with approximately $5.3 billion of committed capital. Dyal increased the target fund size by over $2.0 billion during the marketing period, as […]

Clearlake Capital to Acquire LANDESK

SANTA MONICA, CA AND SALT LAKE CITY, UT — January 3, 2017 — Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) today announced that it has signed a definitive agreement to acquire LANDESK from Thoma Bravo. Financial terms of the transaction were not disclosed. As part of the transaction, Clearlake will contribute its portfolio […]

The Wicks Group Completes Sale to Wasserstein Partners

SECAUCUS, NJ USA — Wasserstein Partners acquired Northstar Travel Group, the leading provider of business-to-business information, content, events, data, research, custom content and software dedicated to the global travel and meeting industries, from the Wicks Group of Companies. Investing alongside Wasserstein Partners IV were its co-investors, Alberta Teachers’ Retirement Fund Board, John Hancock, and Storebrand […]

Must Private Equity Firms Register as Broker Dealers?

Does your firm routinely solicit investors and/or co-investors? Does it market its funds to endowments, pension funds and high net worth individuals? Does your firm advise companies on mergers and acquisitions and debt offerings? If your firm receives compensation for any of these services, then you could be engaging in broker-dealer activities for which registration as a broker-dealer is required.

Stellex Capital Management Affiliate Acquires Equipment Manufacturer

Winn, MI — March 21, 2016 – Morbark, LLC, announced that an affiliate of Stellex Capital Management has acquired the Company. The acquisition is focused on providing growth capital and resources to significantly expand the Company in the future. The stock purchase is a strong fit for the new owners with a portfolio focus of […]

Form ADV Danger Zones

March 8, 2016 – March 30 is the deadline for registered investment advisory (“RIA”) firms to file Form ADV annual updating amendments. Executives, including CCOs, who have intentionally or inadvertently misstated or failed to disclose material information on their Form ADV have been personally fined and/or barred from the financial industry. As NAIC’s Compliance Partner we’re here to help you avoid regulatory blemishes.

Don’t Get Charged with Misallocating Fees and Expenses

February 9, 2016 – Over the past several years, the Securities and Exchange Commission (“SEC”) has been increasingly focused on the fee and expense practices of private equity firms. In 2016, the SEC will continue its focus on whether fee arrangements are in the best interest of the investor and if adequate disclosures are made to investors about fees and expenses.

HarbourVest Partners Acquires BAML Capital Access Funds Group

BAML Capital Access Funds Team Will Continue to Focus on Emerging and Diverse Managers as HarbourVest Horizon HarbourVest Partners (“HarbourVest”), an independent, global private markets specialist, today announced that it has acquired the BAML Capital Access Funds group (“BAML CAF”), an experienced private equity fund-of-funds manager and adviser, from Bank of America. BAML CAF has […]

Compliance Hot Topics for 2016

January 12, 2016 – For our Compliance Corner inaugural issue, we are highlighting some of the compliance hot topics that will be front and center for the SEC. We believe this list, while not exhaustive, addresses the high-risk practice areas and major initiatives that can help you build an effective compliance program.