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How Private Equity Firm Audax Bought a Fund . . . From Itself.


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Private equity firm Audax Group announced Thursday that it has closed a deal to buy one of its own funds with the help of fellow investment firms AlpInvest Partners, Lexington Partners, and Hamilton Lane.  
Audax has closed what is called a continuation fund a transaction that allows a private investment firm to hold onto portfolio assets for longer so they can have time to fully realize returns.  
Here’s how it works: a private investment firm sets up a new fund, then uses it to acquire the assets it already held in a separate fund. Existing investors are given the option to cash out or roll their stake into the new fund, while new investors are solicited to make cash contributions, giving the existing investors the liquidity necessary to leave.   ....

Andrew Ahern , Kinderhook Industrie , Audax Group , Alpinvest Partners , Lexington Partners , Michael Hacker , Institutional Investor , Hamilton Lane , கிண்டேர்ூக் தொழில் , ஆடஸ் குழு , லெக்சிங்டன் கூட்டாளர்கள் , மைக்கேல் ஹேக்கர் , நிறுவன முதலீட்டாளர் , ஹாமில்டன் சந்து ,

Bushfire recovery from air


Date Time
Bushfire recovery from air
Grass trees are some of the first plants to regrow after a bushfire. Wikimedia, CC BY
Two days before Christmas 2019, a fire reached a heritage-protected bush property in the Adelaide Hills, destroying a neighbour’s house. For the next two weeks residents were on constant alert to keep the fire in check, recalls an article in The Conversation.
Flinders University Professor Jorg Hacker, Chief Scientist at South Australia-based Airborne Research Australia (ARA), started conducting aerial research a few weeks later. He says:
I flew over fire-affected areas in the Adelaide Hills and had my first aerial view of the devastation. Fighting fires around my home, and what I saw on this flight, convinced me to get involved with helping recovery in the aftermath of the fires. ....

Cudlee Creek , South Australia , Kangaroo Island , Flinders University , Scientist At South Airborne Research Australia , Scientist At Airborne Research Australia , Hackett Foundation , Courtesy Airborne Research Australia , Flinders University Professor Jorg Hacker , Adelaide Hills , University Professor Jorg Hacker , Chief Scientist , South Australia Based Airborne Research , Airborne Research Australia , Cudlee Creek Fire , Flat Fire , Michael Hacker , Creative Commons , Bush Fires , கூலி க்ரீக் , தெற்கு ஆஸ்திரேலியா , கங்காரு தீவு , ஃப்லிஂடர்‌ஸ் பல்கலைக்கழகம் , விஞ்ஞானி இல் தெற்கு வான்வழி ஆராய்ச்சி ஆஸ்திரேலியா , விஞ்ஞானி இல் வான்வழி ஆராய்ச்சி ஆஸ்திரேலியா , ஹேக்கெட் அடித்தளம் ,