An Overview of Avista Capital Partners
The New York-based private equity business, Avista Capital PartnersM/a>, was created a year after Larry Schloss’ resignation from DLJ Merchant Banking Partners. His departure was brought about by his decision to form Diamond Castle Holdings, another middle market-targeted private equity business.
The firm focuses more on acquiring leveraged buyouts as well as in growth capital transactions in middle market corporations within the media, energy and healthcare sectors.
Avista Capital Partners was established in 2005 by a group of skilled professionals led by Thompson Dean and Steven Webster. The team of private equity experts was able to start the new private equity company right after they accomplished a spinout from a DLJ Merchant Banking Partners, a subsidiary of Credit Suisse.
Credit Suisse First Boston was the former trading name for a 50-50 investment banking joint venture, Financire Crédit Suisse-First Boston. The spinout of London based Diamond Castle Holdings from Credit Suisse First Boston and Avista Capital Partners had occurred the same time as the spinouts of Deutsche Bank (MidOcean Partners), Morgan Stanley (Metalmark Capital), JP Morgan Chase (CCMP Capital) and Citigroup (Court Square Capital Partners).
Avista Capital Partner was able to raise $2 billion worth of funds in 2007. It currently aims to develop a second firm, pushing it to raise a total of $3 billion funds.
