NY Boutique Preps Fund II, Might Need Placement Agent

Stripes Group is preparing to start raising its second fund earmarked for lower mid-market investments, a source close the effort told peHUB sister publication, Buyouts. The firm is currently in pre-marketing mode and is hoping to begin fundraising officially by 2012, or as early as the second quarter. It does not yet have a placement […]

Buyout Shops Eye Fortune Brands Break Up

Buyout shops are expected to be all over the Fortune Brands break-up, according to two senior bankers.

Firms that have had Fortune Brands on its radar for some time include The Blackstone Group, Carlyle Group, Kohlberg Kravis Roberts & Co and TPG Capital, said the head of financial sponsors at one bank. “Private equity firms are like hawks,” he said. “They’re motivated by movement, and there’s something happening here that makes this attractive.”

The Deerfield, Ill.-based company announced Dec. 8 that it plans to continue as a pure-play, publicly traded spirits business, while spinning off its home and security business to become an independent, publicly traded company; and selling or spinning off its golf business. The company made the move after pressure from hedge fund investor William Ackman.

Internet Capital Group Buys GovDelivery

Internet Capital Group (Nasdaq: ICGE) has acquired GovDelivery Inc., a St. Paul, Minn.-based provider of government-to-citizen digital communication solutions. The deal is valued at $19.7 million, in exchange for an 89% stake.

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