Chris Witkowsky
Bain Capital LLC is in advanced talks to acquire auto parts supplier TI Automotive Ltd in a deal approaching $2 billion, people familiar with the matter said on Tuesday.
The Riverside Company has sold PROFITsystems, which provides software and other services for the retail furniture industry. Riverside invested in PROFITsystems in 2006 and held the company through the downturn in the furniture industry that coincided with the global financial downturn. Terms of the deal were not disclosed, nor was the buyer.
Fortress Investment Group has been appointed to the Global Tactical Asset Allocation panel of the U.K.'s Pension Protection Fund. PPF, a public corporation, formed the panel to help manage its growing £15 billion portfolio. PPF looks to the panel's 15 members to help provide a flexible approach to the overall portfolio and align it with the PPF's overall low-risk investment philosophy.
Bregal Partners has formed Aqua Terra Water Management to serve as an acquisition platform providing water management and disposal services to onshore oilfield customers in North America. Aqua Terra made its first investment through the acquisition of Four Winds Energy Services. Terms of the deal were not disclosed.
The Blackstone Group has raised about $4.6 billion for its Tactical Opportunities business after securing a $500 million commitment from the New York State Common Retirement Fund.
TPG spent a lot of time at its annual meeting recently talking up its middle market focus, which struck some LPs as curious considering the massive size of the firm's last flagship fund.
EBF & Associates, an alternative investment firm, has held a final close on $800 million for Merced Partners IV. The fund, which closed on its hard cap, had an initial target of $750 million. Merced Partners IV makes opportunistic value investments in niche financial instruments and hard assets, generally ranging from $10 million to $100 million. Merced Partners III closed on $567 million in December 2010.
Baird Capital has acquired Alpha Financial Markets Consulting, which provides consulting services to financial institutions in the UK, in a deal valued at £28 million. Alpha attracted eight offers from the private equity community.
NorthEdge Capital has invested £25.5 million in Fine Industries Limited, a Teesside-based manufacturer of fine chemicals. Fine Industries was the subject of a management buyout from a large multinational in 2008. After five years of growth, Craig Morgan, managing director, is leading the latest buyout backed by NorthEdge. The investment will accelerate the capital expenditure program to increase capacity and support the company's growth.
Atomico has raised $476.6 million for its third fund, according to a filing with the U.S. Securities and Exchange Commission.