River Associates Exceeds Target for Sixth Fund

May 16, 2012

The Chattanooga, Tenn. firm raised $222M in commitments crediting limited partners who are looking towards the lower middle market as a sweet spot. Mark Jones, a partner at River AssociatesI, tells Mergers & Acquisitions that the fundraising environment is better than it was in 2009, but very competitive. “One thing that’s appealing to investors today is the lower middle market,” he says, adding that LPs are gravitating towards pre-established funds that have long track records with a consistent team and strategy, and the ability to stand out from the rest.

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Sell-Side Due Diligence

There was an increase in broken deals throughout 2009 and 2010, says Michael Grossman, a director with McGladrey's transaction support services. "You have to ask yourself why were those deals broken?" These days, sell-side due diligence is trending. "Companies that are up for sale got a little smarter and more intelligent to engage some sell-side due diligence providers to get themselves prepared for sale," he says, in this video interview with Mergers & Acquisitions editor in chief Mary Kathleen Flynn, shot at the ACG InterGrowth 2012 conference near Dallas. The trend is more accepted with firms in Europe, but the United States is warming up to it, especially when considering the complications that often come with private equity deals, he adds. McGladrey provides assurance, tax and consulting services, and is the sponsor of our video series.
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