Market At A Glance

Among highlights so far this year, TowerBrook Capital Partners LP closed TowerBrook Investors IV LP at its $3.5 billion hard cap. The target was set at $3 billion. Kayne Anderson Capital Advisors LP also completed the fundraising of Kayne Anderson Energy Fund VI LP with $1.6 billion in capital.

On the deals front, U.S.-based financials sponsors completed 265 transactions during the first quarter through March 21, according to Buyouts publisher Thomson Reuters. Those with known financial terms totaled $17.1 billion. The rate also lags the activity from a year earlier, when 336 transactions with total disclosed valuation of about $14.4 billion took place.

The latest period was paced by The Carlyle Group LP’s $4.9 billion purchase of DuPont Co.’s performance coatings subsidiary. Carlyle Group completed the deal through its Flash Bermuda Co. Ltd. subsidiary. The acquired business was renamed Axalta Coating Systems after the close. Deal volume should eventually be on track to rise this year, if proposed deals, like HJ Heinz and Dell Inc., come to fruition.