How to Find Liquidity in GP and LP-Led Transactions April 19, 2021
Partner-in-Charge
Anthony Minnefor is partner-in-charge of the New Jersey and Pennsylvania financial services audit and assurance practice at EisnerAmper.
As LP-led transactions have continued year after year unabated and have grown in sophistication, a large, noticeable trend has emerged in the last 10 to 15 years in the secondary market – the rise of GP-led secondary market transactions. Here’s what private equity firms need to know about this growing trend.
For many years, private equity has been challenged with providing a liquidity mechanism for its large limited partner (LP) investor base. Historically, the primary way an LP could convert its investment to cash before the expiration of a fund’s contractual term would be if the LP itself initiated a transaction and at times participated in finding a prospective buyer.
Astara Capital Partners Completes Investment in Cross City Lumber, LLC
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NEW YORK, April 15, 2021 /PRNewswire/ Astara Capital Partners, LLC ( Astara ) announced today that it has acquired a majority stake in Cross City Lumber ( CCL ). Based in Cross City, Florida, CCL is a Southern Yellow Pine sawmill that manufactures specialty and dimensional grades of lumber. The company will continue to be led by its current senior management team, including Daniel Dickert, Mike Tate, and Wes Grant, all of whom worked together at nearby Suwannee Lumber Company ( Suwannee ).
Bob McKagen of Astara has joined the company as its CEO. Mr. McKagen has decades of experience as a senior executive in both the manufacturing and distribution of wood-based building products. Mr. McKagen commented, Astara is excited to be partnering with this team of talented managers, and I m personally thrilled to be working with many of the same people I
/PRNewswire/ Oxygen8, a manufacturer of high-efficiency HVAC and Energy Recovery Ventilation Systems, announced Thursday the closing of a $4 million-plus.
Global Jet Capital launches carbon offset programme
Alasdair Whyte
13th April 2021, 12:32
Global Jet Capital, the business jet financier, is launching a voluntary carbon offset programme for customers. The CleanFlight Program is in partnership with the Carbonfund.org Foundation.
The Carbonfund.org Foundation will give Global Jet Capital clients preferred pricing. It will also calculate the carbon they customers need to offset after flying in their business aircraft.
“We created this programme to help raise visibility around the impacts of climate change and provide our clients with a vetted option to offset the impact of their aircraft operations on the environment,” said Vivek Kaushal, president and chief operating officer of Global Jet Capital.
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