Amanda Janis

Olympus closes $1.5bn fund

US middle market buyout shop Olympus has closed its fifth fund on $1.5 billion.

Citi, JC Flowers to divvy up BISYS

BISYS, a provider of outsourcing solutions for the investment and insurance industries, is set to be acquired by Citi for $1.5 billion; it will then sell two BISYS divisions to JC Flowers.

KKR, CD&R in $7.1bn food distributor deal

Dutch retail giant Royal Ahold has agreed to sell its food distribution company, US Foodservice, to KKR and CD&R for $7.1 billion.

TH Lee, Bain increase Clear Channel bid

Thomas H. Lee and Bain Capital have increased their offer for Clear Channel by nearly 4 percent, valuing the buyout at more than $27 billion. The private equity firms have said it is their final offer.

Bear Stearns snags ex- ILPA chief

Arlett Tygesen, former executive director of the Institutional Limited Partners Association, has joined Bear Stearns’ recently created Private Funds Group.

Kleiner Perkins partner to chair NVCA

Ted Schlein, Kleiner Perkins Caufield & Byers partner, has been elected chairman of the board of directors for the National Venture Capital Association.

Warburg portfolio company in talks with Silver Lake

Warburg Pincus is the largest shareholder in US telecom products company Avaya, which is reportedly in take-private talks with Silver Lake Partners.

GE launches $250m media fund

GE and parent company NBC Universal have unveiled a $250 million media and technology fund, which has made its first investment in early stage online advertising firm Adify.

London rivals New York as private equity centre

According to the PEI 50, a new league table from Private Equity International magazine, as many of the largest 50 firms in the world are based in London as in New York.

Battery grows Silicon Valley team

Battery Ventures has hired away two tech industry professionals, VeriSign’s Matt Niehaus and Google’s Satya Patel.