manoj.b@eempl.com

Z’Tejas Southwestern Grill, a portfolio company of KarpReilly LLC, has filed for Chapter 11 bankruptcy protection in Arizona.

David Posner, who recently left First Reserve, has joined a hedge fund.

J.C. Flowers & Co’s sale of retirement planning firm Ascensus has hit the second round and bids are due later this month, people with knowledge of the deal said.

Comdata has opted not to sell gift card provider Stored Value Solutions to either GTCR LLC or Genstar Capital, four sources said.

Hostess Brands LLC may have shelved plans for a sale but its investors will be getting back more than they put in after a little more than two years.

Broadmeadow Capital, backed by FTV Capital and LLR Partners, has made a move to buy pieces of ETF strategist F-Squared Investments Inc. out of bankruptcy. 

The drama unfolding in Greece hasn’t captured the attention of private equity, which has little exposure to the financially troubled country. Still, some investors are looking for chances to buy assets on the cheap.

TA Associates, which is reportedly nearing the close of its 12th flagship fund, is running a dual-track process for SkinnyPop Popcorn LLC, sources said.

Advent International and GS Capital Partners needed a little more than three years to nearly quadruple their investment in credit reporting agency TransUnion.

David Posner, who is responsible for First Reserve’s international fundraising activities and investor relations, is exiting the energy-focused private equity firm after more than three years.