Private equity investor Ares Management will acquire Indicus Advisors, an investment manager in European leveraged finance and global structured corporate credit. Terms of the deal were not released. Ares Management is based in Los Angeles.
Carpenter & Co., which invests in troubled banks, is expected to start fundraising this fall for its second fund, sources told peHub. Irvine, Calif.-based Carpenter will be going out with a $500 million target, persons say. This is up from its first fund, Carpenter Community BancFund LP, which raised $280 million in 2009.
Falconhead Capital is getting a dividend from denim apparel company Not Your Daughter’s Jeans after three years. News of the dividend was disclosed in an announcement from LBC Credit Partners. LBC, a middle market lender, said the dividend was part of an $80 million loan that is being used to recapitalize NYDJ Apparel. LBC provided a $10 million senior term loan B that is part of the overall $80 million.
South Africa’s E. Oppenheimer family and Singapore state investor Temasek Holdings have launched a $300 million buyout fund to invest in consumer goods and agricultural deals across Africa, Reuters reported. The fund, Tana Africa Capital, will also look at media, education and health care across Africa. The Oppenheimer family and Temasek will each invest $150 million in the fund.
Private Advisors has raised $211.5 million for its fourth fund that will target small cap buyout and growth equity funds, a source told peHub. The final close for Private Advisors Small Company Buyout Fund IV occurred on July 29. The pool had a $200 million target, the person said.
Siris Capital Group, the buyout firm that spun out of SAC Capital Advisors early this year, is raising its first fund without help from the hedge fund’s leader Steven Cohen, according to three sources. Cohen offered to back away from the firm’s efforts some time in the spring, when he and his firm were appearing regularly in stories about insider trading, according to one source.
Tenex Capital Management has closed its fund, Tenex Capital Partners LP, with $452 million in commitments, well over its target of $400 million. Atlantic-Pacific Capital acted as placement agent and advisor. Formed in 2009 and based in New York, Tenex is a private investment firm focused on under-performing middle-market companies.
UBS has set up an asset management unit in Beijing to work on private equity deals in the country. The unit will help launch private equity funds, make direct private equity investments and provide other related management and advisory services, Reuters reported. UBS follows banks like Goldman Sachs, and private equity firms Blackstone Group and Carlyle Group, into China’s $650 billion private equity market.
WestBridge Capital, an Indian private equity fund, has closed on $500 million to invest in listed and later-stage private companies, Reuters reported. The fund was formed by four founding partners of the India unit of Sequoia Capital.