Fundraising

Dutch Pension Fund Hires Permira Executive

Dutch pension fund administrators PGGM and APG are two emerging LPs to watch as they gradually build their internal teams since they decided to sell their stakes in fund-of-funds AlpInvest in 2011, sister publication peHUB reported.

Los Angeles City Pension Bets On Distressed Debt

The Los Angeles City Employees’ Retirement System has chosen American Securities, one of its existing fund managers, for a $30 million commitment to a vehicle focused on distressed debt investments, sister publication peHUB reported.

Sterling Financial sale worth 2.5x to sponsors, on paper

A pair of buyout shops appears poised to earn roughly 2.5x their money—at least on paper—from a bank they invested in following the financial crisis.

In Diversification Move, Spell Capital Closes $135 Mln Mezz Fund

Spell Capital Partners LLC is looking to its new mezzanine fund to swing deals that would otherwise fall outside its investing mandate.

Moody's Sees Bankruptcy In '13 For Biggest Buyout

The financial stress has been apparent for two years or more at Energy Future Holdings Corp, and now Moody’s Investors Service Inc has put a timetable on the Texas utility’s likely reorganization. The credit rating agency said last week that at least some units of the company are likely to file for bankruptcy by the end of the year.

FNB Capital Shows Banks Way Past Volcker Rule

American banks, which have been shedding their private equity operations because of the Volcker Rule, may be able to use an exemption in the financial reform law at least to get back into the lower end of the middle market.

Brookfield Set To Hit $7bn Hard Cap On Infrastructure Fund

Brookfield Asset Management is nearing the final close of its second infrastructure fund and is set to hit its hard cap of $7 billion, according to three sources, making it one of the biggest private infrastructure funds ever raised.

CPPIB Shakes Up Private Investment Management Team

The Canada Pension Plan Investment Board, which manages C$188.9 billion in assets, made some management changes earlier this year on its private investments team.

Platinum Equity Closes Fund III At $3.75B Target: UPDATED

Platinum Equity LLC has completed fundraising for its third buyout vehicle. The Beverly Hills, Calif.-based shop announced that it raised $3.75 billion, achieving its target for Platinum Equity Capital Partners III.

Need To Meet: Andrew Malk, Managing Partner, Malk Sustainability Partners

As premier buyout firms take more prominent positions on issues such as the environment and good governance, they are boosting the likelihood that smaller firms will follow suit, said Andrew Malk, the managing partner of consulting firm Malk Sustainability Partners.