Jennifer Harris

Warburg Pincus holds $9bn first close(2)

The global private equity firm is well on its way to a target of $12 billion for its tenth fund.

AIG Highstar closes $3.5bn infrastructure fund(3)

AIG Highstar Capital’s third fund is four times the size of its predecessor, as investor interest in infrastructure continues to rise.

Illinois Teachers see record PE returns(4)

Private equity outshined all other asset classes for the Illinois teachers pension, returning 31.3 percent for the year ended 30 June.

Spectrum invests $300m in genealogy company(3)

Spectrum Equity Investors will acquire a majority stake in The Generations Network, a company the firm has backed since 2003. The investment deepens Spectrum’s holdings in the online media sector.

Monomoy buys Alcoa division(2)

KPS-spinout Monomoy Capital Partners has increased its market share in the safety-critical components sector with the acquisition of Alcoa’s Automotive Castings business.

Caltius closes second buyout fund on $133m(4)

Caltius Capital Management has held a final close on its second private equity vehicle, which has commitments from limited partners including several CalPERS- and CalSTRS- backed investment vehicles.

American Capital earns 3x money on audio visual company(2)

American Capital has sold Swank Audio Visuals to Code Hennessy & Simmons, earning a three times return. The firm provided $48.5 million in debt financing for the deal.

PE not included in California Iran ban(3)

The state of California has passed a law requiring that CalPERS and CalSTRS divest from companies that do business in Iran, but unlike similar bans elsewhere, private equity is not affected.

Gores to pick up Tyco unit for $100m(4)

The Gores Group will acquire Tyco’s power systems division for $100 million, as the struggling electronics company continues to sell off assets.

Pandit to lead new Citi unit(2)

Vikram Pandit, a fund of funds entrepreneur and former Morgan Stanley executive, will lead Citi’s newly combined alternative assets and investment banking units, making him a direct report to chairman Chuck Prince.