Friday, 19 December 2014
Last updated 24 min ago
Mar 19 2014 | 11:03am ET
Private-equity firm Paul Capital is closing its doors after its planned sale fell through.
San Francisco-based Paul will cease investing its 10th fund, wind down its portfolio and close all of its offices except its headquarters, The Wall Street Journal reports. Paul has as much as $300 million in open commitments that will be returned.
Paul, which was founded in 1991, buys private-equity stakes on the secondary market. The firm has been looking at strategic options for the past two years, after having difficulty raising its latest fund. Hamilton Lane has been negotiating a purchase of the firm, but that deal has collapsed.
Paul then turned to Goldman Sachs Asset Management, to no avail.
Paul will close its offices in New York, Hong Kong, London, Paris and São Paulo.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.