Christopher Witkowsky

KPS seeks additional $800m for $1.2bn Fund III

The special situations investment firm is approaching Fund III's existing LPs to increase its capital base for new investments.

Ex-NBA star Robinson makes first private equity investment

Admiral Capital Group, launched by former NBA star David Robinson and former Goldman Sachs banker Daniel Bassichis, has acquired a stake in Kohlberg-owned concessions company Centerplate. Terms of the deal were not disclosed.

BofA to ‘downsize’ Merrill placement platform

The bank, which inherited the placement agent business following its merger with Merrill Lynch, will use a smaller team to manage its current clients, but will not take on any new clients.

Cipio collects €61m on its way to €200m for sixth fund

The direct secondaries firm, which has begun fundraising for Cipio Partners Fund VI in the US, recently purchased 10 venture investments from 3i Group.

CCMP is high bidder for bankrupt Eddie Bauer

Clothing retailer Eddie Bauer filed for bankruptcy Wednesday and agreed to be acquired by CCMP Capital Advisors for $202m. CCMP becomes the high bidder for the company but could still be outbid.

Madison Dearborn chief administrator to leave firm

David Mosher has led the firm's back office and investor relations activity since Madison Dearborn was established in 1992. In May, Madison's chief financial officer, Thomas Goldstein, left to seek "more of a challenge".

LPs to stick with private equity despite bleak outlook

Investors in private equity funds believe one-quarter of private equity managers will fail because of the financial meltdown, and one out of every 10 investors in private equity will default on capital calls, according to recent surveys.

ABS Capital closes sixth fund on $420m

The Baltimore, Maryland-based firm has made four investments from the fund, which will focus on later-stage growth companies in the media and communications, healthcare, business services and software sectors.

Florida selects Hamilton Lane to manage $250m initiative

Florida State Board of Administration has pledged $250m for a programme to invest in local Florida businesses through private equity funds and co-investments.

Delphi seeks approval to pay Platinum $30m if bid fails

Platinum entered an agreement to buy almost all of Delphi’s assets for $3.6bn but some Delphi lenders have objected to the arrangement, saying it was conducted in secret.