Lots of takers for an investor in distressed assets
— The Globe and Mail
One of the country’s most powerful and provocative private equity investors expects to soon have more dry powder.
Newton Glassman’s Catalyst Capital Group Inc., Canada’s second-largest private equity manager, expects to raise its fifth large fund as soon as 2014.
That would continue a quick pace of fundraising and deal making that has seen Catalyst close a $1-billion (U.S.) fund in 2011 and an $813-million fund just two months ago. The majority of the cash from both those funds is already invested, leaving Mr. Glassman facing the prospect of going to back to investors in 12 to 18 months, he said in an interview.