Luisa Beltran

TSYS to buy Parthenon-backed Cayan for $1.05 bln

TSYS said Dec. 18 that it has agreed to buy Cayan for $1.05 billion. Parthenon Capital Partners is the seller. Cayan, of Boston, provides payments technology and merchant services. BofA Merrill Lynch and Greenhill & Co LLC provided financial advice to TSYS while Alston & Bird LLP was their attorney. Financial Technology Partners LP supplied financial advice to Cayan while Kirkland & Ellis LLP acted as legal adviser.

TPG Growth Fund IV raises $3.7 bln

TPG Growth said Dec. 8 that its fourth fund closed on $3.7 billion in commitments. TPG Growth, the middle market and growth equity platform of TPG, hit its hard cap on LP commitments in four months.

Sentinel Capital to buy Captain D's: UPDATED

Sentinel Capital Partners said Dec. 18 that it has acquired Captain D’s, the franchisor and operator of 530 Captain D’s restaurants in 21 U.S. states. Financial terms weren’t announced. UPDATE: Centre Partners, the seller, stands to make more than 3.3x their money with the deal, a source familiar said.

Suarez joins Carlyle Group

Inoki Suarez has joined Carlyle Group as a managing director for the firm’s private credit group within its global credit platform. Suarez was previously with Varagon Capital Partners, where he was co-head of general industries and a member of the firm’s initial launch team in 2014.

Carlyle, Level Equity to buy Net Health

Carlyle Group and Level Equity have agreed to buy Net Health. Financial terms weren’t announced. Spectrum Equity is the seller. Net Health, of Pittsburgh, is a software provider for specialized outpatient care. News of the deal was previously reported by Buyouts.

ThinkForce raises $68 mln

ThinkForce said Dec. 18 that it raised 450 million Chinese yuan ($68 million) in a series A funding round. YITU Tech, Yunfeng Fund, Sequoia Capital and Hillhouse Capital participated in the round. ThinkForce, of Shanghai, specializes in artificial intelligence semiconductor chips.

Warburg Pincus financial services fund raises $2.3 bln

Warburg Pincus said Dec. 18 that it raised $2.3 billion for a financial services fund. Warburg Pincus Financial Sector LP, which had a $1.6 billion target, is a companion fund to Warburg’s twelfth PE pool that closed on $13.4 billion in late 2015. The financial services pool will target deals in subsectors such as banks, specialty lenders, insurance, asset and wealth management, as well as payments.

Arougheti named CEO at Ares Management

Ares Management LP said Dec. 18 that Michael J Arougheti, co-founder and president, was named CEO effective Jan. 1, replacing Tony Ressler who will continue as executive chairman. Ressler, an Ares co-founder, will focus on major client marketing, corporate strategy and brand building activities for the firm. Michael McFerran, currently Ares CFO, was named chief operating officer. Ryan Berry, head of Ares’ strategy & relationship management group, was also appointed chief marketing & strategy officer.

ConvergeOne buys Alexander Open Systems

ConvergeOne, a portfolio company of Clearlake Capital, has acquired Alexander Open Systems. Financial terms weren’t announced. Alexander Open, of Overland Park, Kansas, is an IT consulting group. ConvergeOne on Dec. 1 agreed to combine with Forum Merger, a blank check company.

Olympus Partners Fund VII raises $3.04 bln

Olympus Partners said Dec. 17 that its seventh institutional private equity fund closed on $3.04 billion. The total surpassed the $3 billion target for Olympus Growth Fund VII. Olympus, of Stamford, Connecticut, focuses on business services, logistics, healthcare manufacturing and services, industrial, financial services and consumer.