Auto parts suppliers look for capital to grow and compete

The auto parts business has always been a capital-driven industry. Especially today, as suppliers are required to make big investments, with the push into new markets, the race to develop cutting-edge products and supply chains running close to capacity.


PA SERS copes with sudden death of PE official

Veteran limited partner Michael Beblo, 62, director of alternative investments at the Pennsylvania State Employees’ Retirement System, died after heart surgery on August 2, a spokeswoman for the pension system confirmed.


Providence to sell IRONMAN after seven-year hold

Chinese conglomerate Dalian Wanda Group has agreed to acquire endurance race event brand IRONMAN from Providence Equity Partners for an equity value of about $650 million. Wanda Group will assume IRONMAN’s existing debt. Providence held the business for seven years.


Audax, Moelis complete sale of Quest Construction Products

Audax Private Equity and Moelis Capital Partners have completed the sale of Quest Construction Products, the remaining division of Quest Specialty Chemicals, Inc., to Building Materials Corporation of America. With the sale, Audax and Moelis have fully exited their investments in Quest.

Aequitas Capital expands capital markets capabilities with two hires

Aequitas Capital has expanded its capital markets team. The firm hired Jeff Mazer, a former Bank of America Merrill Lynch executive, as senior managing director of capital markets and treasury. He will be responsible for managing the firm’s portfolio of investment offerings, executing senior and junior debt and credit strategies and working as an advisor to executive management. The firm also brought on Katya Baron as a managing director of capital markets. Baron previously worked at Sterne Agee, Gleacher, Barclays Capital and J.P. Morgan Securities.


Investor group buys LP stakes in Palamon funds, commits new capital

Adams Street Partners, Goldman Sachs, Morgan Stanley, PGGM and the Rothschild Merchant Banking Group bought LP stakes in Palamon European Equity Funds I and II as part of a tender offer process. The investor group also committed new capital into a vehicle that will invest alongside Palamon Auxiliary Partnership 2013. Credit Suisse ran the process. The two newer vehicles have committed to the purchase of Currencies Direct in partnership with Corsair Capital.

EnCap, along with management, commits $300 mln to Evolution Midstream

EnCap Flatrock Midstream committed $300 million to Evolution Midstream, along with Evolution management. Evolution, formed in July, focuses on greenfield and strategic acquisitions in the Rocky Mountains, Bakken Shale, Permian Basin, Mid-Continent and Appalachia. The company offers services like natural gas gathering, processing, treating and compression; crude oil gathering, transportation and marketing, freshwater delivery and produced water disposal, among others.


Levine Leichtman acquires Regional Rail

Levine Leichtman Capital Partners has completed the acquisition of Regional Rail, an operator of short line railroads and rail-related businesses in the U.S. Levine Leichtman partnered with management on the acquisition. The company is the fifth investment from Levine Leichtman Capital Partners SBIC Fund.


Dallas Police & Fire hires exec with private equity experience as CIO

The Dallas Police & Fire Pension System named James Perry, an institutional investor executive with private equity experience, as chief investment officer, a newly created position. Perry will oversee all investments in the system’s $3.1 billion portfolio. Perry currently works as assistant vice chancellor and assistant CIO for Texas Tech University System, a $1.1 billion endowment. Prior to the endowment, Perry was a senior investment officer with the San Bernardino County Employees’ Retirement Association, working across public and private markets including equity, fixed income, real estate and private equity. Perry starts at the Dallas pension system on Sept. 1.

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