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Here’s how LPs are shifting their private markets allocations due to Covid-19

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LPs are beginning to waver over sticking with their private markets allocations as the coronavirus crisis rages on, new

Source: https://www.altassets.net/knowledge-bank/by-pe-focus/infrastructure-real-estate/heres-how-lps-are-shifting-their-private-markets-allocations-due-to-covid-19.html

Private Equity

Sole Source Capital brings in new investor relations head after making final Fund I investment

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Industrial-focused private equity house Sole Source Capital has hired former Crescent Capital senior exec Sumil Menon as its new head of investor relations.

Sole Source closed its debut private equity fund on its $160m hard cap in December 2018, and completed its last investment from the vehicle in May this year by picking up Supply Chain Services.

Menon spent nearly a decade at Crescent, most recently as senior vice president for business development.

During his time at the firm he helped it more than than tripling its assets under management, which by 2020 totaled nearly $30bn.

Menon was previously an associate on the business development and institutional relationship management team at Wilshire Associates, and began his career at Pacific Investment Management Company.

Sole Source was founded by former Gores Group senior exec David Fredston two years ago, to focus on lower mid-market investmetns in manufacturing, distribution, and industrial service companies.

Fredston said, “We are pleased to welcome a talented investor relations professional of Sumil’s caliber to the Sole Source team.

“With deep institutional relationships around the world and significant experience managing numerous capital raises, Sumil will play a key role in fostering investor engagement and articulating our differentiated strategy.”

Sole Source targets North American companies with between $5m and $20m of EBITDA, and focuses on management buyouts, corporate divestitures, and founder/family owned businesses in defensive end-markets.

Copyright © 2020 AltAssets

Source: https://www.altassets.net/private-equity-news/by-news-type/people-news/sole-source-capital-brings-in-new-investor-relations-head-after-making-final-fund-i-investment.html

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Private Equity

Bright Network highlights need to help ‘Corona Class’ of graduates amid investment from Maven Capital, Seneca Partners

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UK private equity house Maven Capital Partners has led a further investment in Bright Network, a media technology recrui

Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/bright-network-highlights-need-to-help-corona-class-of-graduates-amid-investment-from-maven-capital-seneca-partners.html

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Private Equity

Hamilton Lane holds final close for its new Impact Fund

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Hamilton Lane, a  private markets asset management firm, has held the final close of its new Impact Fund, pulling in over $95m.

The exact figure for the fund was not disclosed.

Hamilton Lane Impact Fund will have a dual focus and will target attractive investment returns and positive social and environmental impact.

It will back companies around the world either through direct or secondary investments. Target sectors include health and wellness, energy and environment, community development, and financial empowerment.

By leveraging its network of GP relationships, the Impact Fund will make buyout, growth, venture and real assets investments, it claims.

The vehicle will primarily invest into developed markets, with the opportunity to impact emerging markets.

Limited partners for the fund include large private pension funds, financial institutions, high-net-worth individuals, endowments and other institutions.

Hamilton Lane managing director and head of product management Jackie Rantanen said, “As impact investing continues to gain attention and traction from all investor types, the private markets industry has responded in kind, helping address some of the world’s most pressing environmental and social challenges, while seeking to generate meaningful returns.”

Earlier in the year, Hamilton Lane raised over $1.7bn for its fourth flagship secondaries fund.

Copyright © 2020 AltAssets

Source: https://www.altassets.net/private-equity-news/by-news-type/fund-news/hamilton-lane-holds-final-close-for-its-new-impact-fund.html

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