P.E. Secondaries Firm Paul Capital Shutting Down

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.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of