When private equity and hedge fund manager Fortress Investment Group LLC went
public in February, the private equity industry took notice. The initial
public offering turned out to be wildly successful as Fortress sold 8.5% of
itself and raised $635 million. Fellow private equity firm Blackstone Group LP
followed suit
on
March 22 by filing for its IPO, which will possibly generate $4
billion. Carlyle Group and Kohlberg Kravis Roberts & Co. now
are considering going public as well.
Going public is just one of many strategies that U.S. private equity firms are
following in pursuit of more capital. This "Quest for More Capital" is one
panel discussion private equity industry leaders will be speaking about at The
Deal's Private Capital Symposium, April 23-24 at The Sheraton New York Hotel
& Towers in New York City. The panel will also look at what may lie ahead
in this race for more investable funds and try to answer other intriguing
questions such as:
-
Can the business development corporation concept rebound from earlier
miscalculations?
-
Will more sponsors look to markets outside the U.S. to raise public funds?
The panel group includes: John Barber, managing partner, Citigroup Private
Equity; Andrew Bonanno, managing director, American Capital Strategies Ltd.;
Whitney Bowe, partner, 3i Group plc; Julie Spellman Sweet, partner, Cravath,
Swaine & Moore LLP; and Dana Pawlicki, senior vice president, Lehman
Brothers Inc.—Gerald Magpily
See
The Deal Newsweekly article:
Fortress IPO mints money for
founders
See
TheDeal.com: Blackstone files for IPO
See
The Deal's Private Capital Symposium
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