Christopher Witkowsky

Investors in Sterling Group’s $470m second fund, which closed in 2005, have been paid back all called capital, says partner Kevin Garland.

Dividend recaps are undeniably controversial. But they’re a perfectly legitimate way for managers to get much-needed capital back to their LPs – as long as they’re done right

Bryan Martin, who joined New Jersey last year to head up real estate and real assets, has joined an insurance agency in Nebraska.

Bryan Martin, who joined New Jersey last year to head up real estate and real assets and helped design the system’s innovative separate accounts business, has joined an insurance agency in Nebraska.

The company, led by CEO Ron Clarke, bought back a portion of its shares from the two firms. To date, Summit’s total return on its FleetCor investment is more than 10x.

Firms including Bain, Apax and CCMP are pledging significant sums to better align interests with investors, many of whom want to see ‘cash up front’.

The firm, which launched its formal distressed team in 2010, has begun raising a dedicated fund for the strategy.

With its unusual deal sourcing model and its willingness to back entrepreneurs throughout the cycle, US-based growth investor Summit Partners continues to plough a profitable furrow in a crowded segment, writes Christopher Witkowsky

The bank’s alternative investments group is set to beat its $600m target for its second investment vehicle to buy fund interests, and will likely wrap-up fundraising around the end of the year.

The $25bn pension system has allocated $100m to Oaktree and LBC Credit Partners as it works to meet its $500m annual commitment target as part of its overhaul of its alternatives programme.