first read April 29
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peHUB First Read

Catch up on the latest after the weekend including Michigan Regents latest commitments, which fund managers are performing for Nevada, how the compensation structure of PE funds works and a look at the five phases of a GP’s life cycle.

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Onex closes $5.15 bln for fourth fund

Canadian private equity firm Onex has raised $5.15 billion for its fourth fund. The target was $4.5 billion. Its LP base includes public employee pension plans and sovereign wealth funds.

lacounty

LACERA to focus on ‘top tier’ venture funds

From the looks of it, the Los Angeles County Employees Retirement Association could be one of the busiest limited partners in the industry this year, with the potential to commit up to $1.8 billion. Its investment focus will include building exposure to smaller buyout managers, as well as ‘top tier’ venture funds.

peHUB First Read

This morning First Read brings you the latest on European bank deals; China’s private equity search for dollars, Europe putting the adventure back into capital and reveals the force behind Angry Birds Star Wars.

Allison IPO demand stronger than expected

Allison Transmission Holdings has sold more shares than expected in a $600.3 million initial public offering that priced within range on Wednesday, writes Reuters. The Indianapolis-based maker of automatic transmissions for trucks, buses and military vehicles was sold by General Motors to private equity firms Carlyle and Onex in 2007 for $5.6 billion. Reuters – […]

PE-Backed Allison Transmission Prices IPO

Allison Transmission Holdings Inc., a maker of automatic transmissions for trucks, buses and military vehicles, said it expects its initial public offering of 21.7 million shares to be priced between $22 and $24 apiece, Reuters reported Thursday. Indianapolis-based Allison Transmission — which was bought by private equity companies Carlyle and Onex from General Motors Inc […]

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Onex Increases Commitment to Fund

North American investment firm Onex is increasing its commitment to Onex Partners III to $1.2 billion from $800 million. This brings the total fund size to $4.7 billion. Onex continues to be the largest investor. PRESS RELEASE Onex Corporation (“Onex”) (TSX:OCX) announced today it is increasing its commitment to Onex Partners III to $1.2 billion […]

Berkshire Partners in Talks to Buy Husky Injection Molding

Buyout shop Berkshire Partners is in talks to buy Husky Injection Molding Systems in a deal that could be worth up to $2 million, Reuters reported. The company is currently owned by Canadian buyout shop Onex, and saw interest from Bain Capital and several other private equity firms in earlier stages of the auction. Onex bought Husky for nearly $1 billion in 2007.

Apollo, Carlyle, Other Suitors Cool to Federal-Mogul Deal as Share Price Surges

NEW YORK, April 18 (Reuters) – Private equity firms Apollo Global Management and the Carlyle Group are interested in buying Federal-Mogul Corp., but the recent run-up in the company’s share price has made suitors skittish and a deal is far from certain, people familiar with the matter said. Several other buyout firms including Bain Capital, […]

The Top Ten Private Equity Deals of 2010

Private equity deals rebounded with a bang in 2010.

In fact, for the first time since 2007, buyout transactions globally are expected to hit more than $200 billion, according to Preqin.

So far there have been 2,028 PE deals this year, valued at $196.7 billion as of Dec. 20. This compares to last year when 1,530 deals raised $87.6 billion for all of 2009. This year’s totals also beat out 2008′s when there were 2,117 PE transactions, valued at $180.2 billion, according to Preqin data.

Canadian PE Firm Onext Raises $314M in Fund IPO

Canadian private equity firm Onex has raised C$320 million ($314 million) in an initial public offering of its high-yield debt fund, OCP Senior Credit Fund, Reuters reported. The firm sold 32 million shares at $10 apiece. The offering was handled by a syndicate co-led by CIBC World Markets and RBC Capital Markets, Reuters said.

Onex Profits Slip

(Reuters) – Onex Corp (OCX.TO), a Canadian private equity firm, said on Wednesday second-quarter profit slipped after the sale of an asset in the year-earlier period, while operating profit jumped. Onex, in talks to buy a British autoparts maker Tomkins Plc (TOMK.L) in what would mark the largest private equity deal of the year, reported […]

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