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Pantheon, ICG would buy out existing Fund XI LP stakes Restructured Fund XI will reset carry for GP Lazard is adviser on the process Pantheon and Intermediate Capital Group are lead investors in the restructuring of First Reserve’s Fund XI, according to three people with knowledge of the process. The restructuring proposal would give the Greenwich, […]

Firm: Paulson  & Co Fund: Paulson Strategic Partners Fund Target: $2 bln As limited partners’ appetite for distressed strategies grows, Paulson & Co, a hedge fund led by the billionaire John Paulson, boosted the size of its distressed-debt private equity fund by fully a third. Paulson Strategic Partners Fund plans to raise as much as $2 […]

Apax Partners is selling Epicor Software Corp after a five-year hold and is expected to make 4.4x its money with the sale, a source familiar with the transaction said. KKR said July 5 that it agreed to buy Epicor. Financial terms weren’t announced but the deal is valued at $3.3 billion, including debt, the source said. […]

Committed Advisors Fund III targets 750 mln euros Fund so far collects 700 mln euros In market for about four months Committed Advisors, the steadily growing secondaries shop, has raised about 700 million euros ($780 million) for its third fund, targeting 750 million euros, according to a person with knowledge of the fundraising. Committed, launched […]

After a rocky start to the year, private equity GPs got busy on the M&A front in the second quarter. In fact, Q2 nearly matched last year in the number of U.S. announced private equity deals. There were 174 U.S.-announced LBOs in Q2 valued at $21.73 billion, as of June 29, Thomson Reuters said. That’s just one […]

TorQuest Partners has raised the $925 million hard-cap target set for its fourth private equity fund, earmarked for investments in mid-market companies in Canada and the United States. The Toronto-based firm announced that TorQuest Partners Fund IV closed 23 percent above its original target of $750 million. It is the largest fund raised by TorQuest since its founding in 2002.

Not clear why Brice left Three people have moved into leadership role Brice named president in 2008 John Brice, president and chief investment officer of CarVal Investors, left the firm, Ann Folkman, managing director at CarVal, confirmed to Buyouts Tuesday. Why Brice left is unclear. His last day was June 20, Folkman said. He joined […]

Canadian private debt and equity investor Penfund has banked the $525 million target set for its fifth mid-market fund and is now raising additional capital for a final close, a person with knowledge of the matter told Buyouts. Penfund Capital Fund V is expected to wrap up appreciably above its target in July or August, the source said. At its current total, the fund is already the largest in Toronto-based Penfund’s 37-year history, surpassing by 14 percent the $460 million secured by its predecessor in March 2012.

Many private equity executives and bankers say they were shocked by the Brexit, Britain’s decision to leave the European Union, but opinions ranged widely about how and how much the move would affect M&A, fundraising and the world. Some suggested that it might spur deal-making in the United Kingdom and Europe as uncertainty could weigh on […]

ARC Financial Corp has intensified its deal-making with new investments in a junior oil producer and a hydraulic-fracturing-treatments specialist. Longshore Resources, a Calgary company founded in late 2015 by senior energy executives, last week said it raised $150 million in equity financing from ARC. The announcement, which was not widely reported, included news of Longshore’s acquisition of certain producing assets in Alberta’s Peace River Arch region.