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Tengram closes debut fund above targetThe Connecticut-based firm launched its debut fund in 2011 and came in just under its $175m hard-cap. Tengram has invested roughly 20% of the fund to date.
- First-time funds: Americas
In an era where investors are increasingly focused on experience and track record, it’s arguably never been harder to raise a debut fund. Yet some groups are managing to buck the trend.
- Apax buys US fashion retailer (again) for $1.1bn
The firm will acquire clothing retailer rue21 using capital from its Fund VIII, which is targeting close to €6bn. Apax previously owned a majority stake in rue21, which filed for a $125m IPO in 2009.
- Court Square hits $3bn on Fund III
The Citi spin-out has reached its target of $3bn though the fund will remain open for some final commitments.
- Onex seals $950m carve-out amid fundraise
The Toronto-based firm will acquire tradeshow operator Nielsen Expositions as it works to raise its fourth North American buyout fund.
- Onex targets $4.5bn for Fund IV
The Toronto-based firm will commit $1.2bn to its Fund IV, the same amount it contributed to its $4.7bn Fund III, which is nearly 90% invested.
- Canada: Not just the 51st state
Private equity activity in Canada has slowed down in 2013 – but the country’s GPs and LPs are still well-capitalised and actively targeting opportunities both at home and abroad.
- Onex’s Sheiner to step down
Onex managing director Andrew Sheiner will leave at the end of June to start a new private equity platform targeting 'less volatile' investments, Sheiner says.
- Onex doubles money in healthcare exit
The Toronto-based firm has generated a total of $145m from its $73m investment in 2005 in US healthcare company Center for Diagnostic Imaging.
- CPPIB buys Tomkins division for $1.1bn
CPPIB and Onex continue to jointly own roughly 97% of Tomkins, which has now sold five divisions for combined proceeds of nearly $1bn.