First report: June 26, 2008: Avista to Reach First Close
Avista Capital Partners is approaching a first close on its second fund, slated for July, a source familiar with the situation said. The firm deployed its first $2 billion fund quickly, doing around six deals last year and around 11 in 2006. This time around it’s seeking $3 billion.
Remains in market/lowered target. Avista Capital Partners held a first close in December 2008 with around $1 billion in capital commitments. It had originally looked to close on $1.5 billion. The fund’s target has been lowered to between $2 billion and $3 billion, according to Buyouts magazine. The firm plans a closing in December with a final close in March.