Bain Capital this afternoon sent capital calls out to its institutional investors, for the pending $19.5 billion buyout of Clear Channel Communications.
peHUB had reported yesterday that certain individual investors had received calls via “feeder funds,” but that no requests had been made of institutions (endowments, foundations, pensions, etc.).
The call date is one week from today.
Dow Jones had previously reported on capital calls made by Thomas H. Lee Partners, which is co-sponsoring the Clear Channel buyout with Bain.
Capital calls do not guarantee that the deal will actually close, but do indicate that the buyout firms are feeling particularly optimistic. These particular calldowns also may help pressure Clear Channel to settle its legal dispute with Providence Equity Partners, over a disputed sale of certain television assets.