Oliver Smiddy
The Carlyle Group's inexorable push into alternative assets other than private equity has seen it raise four CLO funds this year, with the latest closing on $620m this week.
Private debt fund manager Metric, launched by former UBS and Towerbrook executive John Sinik last year, has sealed another two deals as demand for alternative sources of debt finance increases.
Almost 200 private debt funds are chasing combined commitments of $124 billion, according to PEI research, as managers look to exploit credit opportunities created by banks’ partial retreat from the market.
Intermediate Capital Group has backed the tertiary buyout of corporate travel company ATPI using both equity and mezzanine debt, providing an exit for Equistone in the process.
After turning down an offer reportedly worth £520m in the summer, Montagu and GIP are set to cede control of Biffa to a quartet of senior lenders.
The Bahrain-based investment group has sealed its third exit of a busy year that has also seen it make seven new private equity investments, excluding bolt-ons.
BC Partners has refinanced some of the debt used for its €1.9bn acquisition of Com Hem last year, unlocking a dividend which is the first (partial) realisation from the firm’s latest fund.
Advent International has wrapped up fundraising for its latest global buyout vehicle, which came in at €8.5bn.
SVG Capital has sold its LP interest in Permira III at a 13.3% discount as part of its ongoing strategy overhaul.
Park Square Capital and Partners Group have provided mezzanine financing to back Advent International’s €1.5bn take-private of German retailer Douglas Holding.