Avista Raises $2 Billion

Avista Capital Partners has closed its debut fund with $2 billion in capital commitments, including $161 million from the general partners. Merrill Lynch served as placement agent. The New York-based firm was formed in 2005 by seven former partners who worked together at DLJ Merchant Banking, and focuses on buyout opportunities in the energy, healthcare and media spaces. It has committed approximately $1.1 billion of the fund so far, in 14 companies. They include: BioReliance Corp., Geokinetics Inc., Laramie Energy II LLC, Nycomed AS, The Star Tribune Co. and WideOpenWest. www.avistacap.com