Brad Meikle

The Arizona State Retirement System plans to invest $25 million alongside an affiliate of Apollo Global Management in its acquisition of “certain energy assets” from Encana Corp, according to Oct. 20 investment committee meeting materials.

A senior U.S. Securities and Exchange Commission official on Thursday urged private equity firms to follow Blackstone Group LP’s decision to stop a controversial fee practice in its portfolio companies, according to Reuters news service.

Private equity firm KKR & Co LP reported a lower-than-expected 27 percent year-on-year drop in third-quarter profit on Thursday, as its holdings appreciated more than many analysts foresaw and it generated more cash by exiting its investments, according to Reuters news service.

Industry specialization is only “weakly” correlated to performance in the lower middle market, according to a recent white paper from fund of funds RCP Advisors.

Apollo Global Management LLC plans to start raising between $2 billion and $3 billion for a second natural resources private equity fund, sources familiar with the situation told Reuters news service, in the latest sign that the firm is doubling down on the U.S. shale boom

Canadian mid-market firm Novacap has not yet begun broad marketing of Novacap Industries IV LP. It has nonetheless already managed a first close that puts it within reach of its target.

U.S. sponsors of buyout and growth equity funds responding to a survey earlier this year said they planned to add relatively few partners in 2014 but a healthy minority planned to add staff at the junior level.

Sterigenics International LLC, a provider of contract sterilization services to the medical device and food industries, is exploring a sale that could value it at as much as $1.5 billion, including debt, people familiar with the matter told Reuters news service.

The top two lawmakers on the Senate’s antitrust panel have urged regulators to scrutinize food distributor Sysco Corp’s planned purchase of rival U.S. Foods for $3.5 billion, according to Reuters news service.

Francisco Partners’ auction of financial software company eFront has attracted offers of around $400 million, according to two people familiar with the transaction.