Jennifer Harris

San Diego allocates $365m to infrastructure

The San Diego County Employees’ Retirement System has created a 5 percent allocation for infrastructure, making it the latest pension fund to earmark funds for an asset class that many pensions like for its long-term, stable returns and low correlation with the overall market.

TPG to pay ¥20 billion for NIS stake

TPG plans to make its third investment in the Asian financial sector with a ¥20 billion investment in the Japanese lender.

Ex-UBS exec Ken Moelis holds first close on $1.8bn(3)

Moelis & Co. has held a $1.8 billion first close on its new fund, just five months after founder Ken Moelis left his position as head of investment banking for UBS.

Banks lose billions from buyout financings(3)

Several US investment banks this week revealed billions in losses stemming from unsyndicated leveraged loans, while a new study has found Lehman Brothers is significantly more overextended than its peers.

American Capital earns 3x money on audio visual company

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.

Bear, Eagle tap Kwok to lead Chinese PE venture

Bear Stearns and Eagle Investments have selected Steven Kwok, previously of private equity firms The Carlyle Group and Orchid Asia, to lead their joint effort in China.

Environmental Capital raises $100m(2)

Fledgling firm Environmental Capital Partners has secured $100 million from the New York Private Bank & Trust and its founders, which include private equity industry vets, a Yale School of Forestry professor and former New York Ranger Mike Richter.

Lone Star tries to cut Accredited price by $175m(3)

Lone Star said in a letter to Accredited Home Lenders today that it would loosen the closing conditions of the deal if Accredited agrees to cut its price from $400 million to $225 million.

Fort Washington to raise $250m FoF

Fort Washington Capital Partners is targeting $250 million for its sixth fund of funds, which will invest in equal numbers of venture and private equity funds.

MTS and Oaktree add to home healthcare portfolio(2)

MTS Health Investors and Oaktree Capital Management have acquired Links2Care to grow the pediatric home healthcare arm of their portfolio company Loving Care Agency.