Steve Gelsi
TPG Capital has launched formal fundraising for TPG Partners VII with a target of $8 billion to $10 billion and management fee discounts of up to 25 percent for the largest and earliest LPs in the buyout pool, but people with knowledge of the firm are mixed on how quickly the marquee buyout shop will wrap up the effort.
Swander Pace Capital has closed its sale of over-the-counter pharmacy products maker Insight Pharmaceuticals to Prestige Brands for $750 million after growing the over-the-counter owner drug store maker’s revenue by 2.5x in five years.
ABRY Partners has been cleared by the Federal Trade Commission to buy privately held Kore Wireless using its 2011 vintage fund, ABRY Partners VII LP, in the midst of a fundraising effort by the Boston firm.
Baird Capital’s lead healthcare executive sees opportunities in the sector for deals as the firm plans to finish investing its $300 million Baird Capital Partners V fund in the next 12 months.
Stripes Group wrapped up SG Growth Partners III LP by hitting its $500 million target in one close, according to a person familiar with the fund.
BV Investment Partners added new limited partners from Europe as it wrapped up an 18-month fundraise for BV Investment Partners Fund VIII at $487 million, above its $400 million target.
3i Group Plc’s North American private equity unit is buying Wisconsin-based A&A Manufacturing from Audax Group in a deal that values the maker of protective equipment at $202.5 million, as the UK firm continues investing off its balance sheet.
The Illinois Teachers’ Retirement System pledged $100 million to the latest fund from NGP Energy Capital Management, bringing its NGP Natural Resources XI LP fund closer to its target of $4.5 billion, or a hard cap of $5 billion.
3G Capital Management LLC’s Burger King Worldwide Inc will finance its $11.5 billion purchase of Canadian doughnut chain Tim Hortons Inc at a debt multiple of more than 7x EBITDA, a level that the quick-serve food chain finds comfortable.
Prophet Equity plans to ramp up growth at Acton Mobile, a provider of office trailers and construction storage, after paying an undisclosed sum to acquire the company in its first investment from its new, $345 million Prophet Equity II LP fund.