Steve Gelsi
AEA Investors LP shrugged off weakness in mezzanine debt fundraising and drew $575 million in commitments for AEA Mezzanine Fund III, about 40 percent more than the $420 million in its predecessor fund, according to a person familiar with the firm.
New York State Teachers’ Retirement System has committed up to $25 million to CapStreet Group LLC’s CapStreet IV LP, which has already raised more than its predecessor fund for lower-middle-market deals in Texas and the Sunbelt states.
Easton-Bell Sports Inc, the sports helmet maker owned by Fenway Partners, has drawn a debt downgrade from ratings agency Standard & Poor’s for the higher leverage it faces following the sale of its baseball and softball business to Bauer Performance Sports Ltd for $330 million in cash.
The Kansas Public Employees’ Retirement System has committed up to $50 million to Freeman Spogli & Co LLC’s new buyout fund, FS Equity Partners VII, now in the market three years after the close of its predecessor.
The summer of 2007 stood out as a time of frothy acquisitions for buyout firms. But among all the mega-deals being done, the sale that year of mid-sized retailer Spencer Spirit Holdings Inc to a U.S.-based fund of ACON Investments LLC didn’t attract much attention.
Howard Morgan and William Pruellage, co-presidents of Castle Harlan, spoke to Buyouts at the firm’s New York headquarters.
Monitor Clipper Partners (MCP), the Boston-based mid-market specialist with $2 billion of investments under its belt, has raised $135 million for its first close for Monitor Clipper Equity Partners IV LP, according to a personal familiar with the firm.
Strategic Investment Group, a fund of funds backed by Friedman, Fleischer & Lowe, has closed on $150 million for Strategic Private Equity Fund IV LP, about 18 months after its first public filing for the effort, according to filings with regulators.
With interest in secondary deals running strong, The Blackstone Group pushed up the target for Strategic Partners Fund VI to $3.5 billion, $600 million more than the fund’s predecessor, with the Pennsylvania Public School Employees’ Retirement System pledging $150 million for its tenth commitment to the fund family.
Lower mid-market specialist LLR Partners has closed LLR Equity Partners IV LP with $950 million in commitments, including $200 million from long-time limited partner Pennsylvania Public School Employees’ Retirement System.