The private equity shop sent around its "2017 Highlights" touting, among other things, the realization of "over $1 billion of gross proceeds across the portfolio, driven by four successful exits, numerous dividends and divestitures, bringing distributions to our investors to $4.8 billion over the past five years." Conveniently missing from the firm's "Select Current Portfolio" list are Shopko, Vince and Paperworks, all of which have been on distressed radars for some time (and the latter of which will presumably file for bankruptcy any day now). Furthermore, there is, of course, zero mention of some of 2017's Greatest Bankruptcy Hits: Gordmans Stores Inc., Limited Stores Company LLC, and Marsh Supermarkets Holding LLC. If you'd like to see the marketing piece, email us and we'll send it to you.
Meanwhile, this Bloomberg piece celebrates Apax Partners for their transparency and frankness about bad bets like rue21.
And, finally, The Carlyle Groupcrushes it.