The year ended with a bang. U.S.-based buyout and mezzanine funds added $6.1 billion in the final weeks of 2015, bringing their annual total to $219.2 billion. That was $11.5 billion ahead of last year’s total.
Welsh, Carson, Anderson & Stowe had an interim close on its 12th flagship fund at $3 billion. The firm plans to collect another $500 million to reach its hard cap and hold a final close in the first quarter of 2016. Meanwhile, Falcon Investment Advisors held a first close on its fifth mezzanine vehicle. Falcon Strategic Partners V is $720 million towards its $1.25 billion goal.
Elsewhere, Advent International received a pair of commitments for Advent Global Private Equity VIII from two LPs: The Washington State Investment Board allocated $600 million to the fund, and the Massachusetts Pension Reserves Investment Management Board pitched in $300 million. Advent is eyeing $12 billion for its latest global buyout fund.
Washington also committed to another mega-fund, promising $750 million to Kohlberg Kravis Roberts & Co’s KKR North America Fund XII, which has a $10 billion target.
More deals
The annual total for completed deals grew by about $10.3 billion since Buyouts last went to press. The largest deal with a disclosed value was led by Blackstone Group and Ivanhoe Cambridge. The duo acquired the Stuyvesant Town & Peter Cooper Village Portfolio, a New York-based owner and operator of apartment buildings, from CWCapital Asset Management LLC for $5.3 billion.
The next two largest deals were for different properties of Westfield shopping centers. An investor group of Centennial Real Estate Co LLC, USAA Real Estate Co and Montgomery Partners Inc purchased 79 percent stakes in the Westfield Connecticut Post for $955.5 million and Westfield Mainfield for $813.9 million.
The Carlyle Group also made a deal, buying the Rhode Island State Energy Center from Entergy Corp for $490 million.
Additional Data
IPO AFTERMARKET REPORT FOR SELECT BUYOUT-BACKED COMPANIES THAT WENT PUBLIC IN 2015
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