Birch Hill Equity Partners has raised C$425 million ($402.6 million) toward its fourth fund, according to LBOWire. The Toronto-based buyout firm is targeting C$850 million for the effort. Shannon Advisors is Birch Hill’s placement agent.
Blackstone Group president and COO Tony James has sold $67.5 million of his stake in Blackstone, or around 8.5 percent of his family’s holdings, in order to finance his contributions to various Blackstone funds.
Caisse de depot et placement du Quebec announced a multibillion-dollar borrowing plan to refinance the pension fund’s short-term debt.
CapitalSource Inc. (NYSE: CSE), a mid-market lender, has agreed to sell substantially its entire health care net lease portfolio to Omega Healthcare Investors (NYSE: OHI). The deal includes $280 million of cash and $51 million of OHI stock, with Omega also expected to assume or pay off $529 million of assumed debt.
Charlie Eitel, former chairman and CEO of Simmons Bedding Co., and Jeff Armstrong, a former Wachovia Securities executive, have formed a new consultancy focused on middle market companies. The Charlotte, N.C.-based shop “will serve companies as an engaged Board Member, Executive Partner, Company Advisor or Interim Management.”
CIMB Standard next year plans to raise $300 million for a new Southeast Asia infrastructure fund, and increase the target size of its Islamic infrastructure fund to $500 million. It also expects to open new offices in both Indonesia and Turkey.
DeltaPoint Capital Management has held a first close on more than $50 million for its fourth fund, which is targeting a total of up to $125 million. Limited partners include the New York State Common Retirement Fund. DeltaPoint is a Rochester, N.Y.-based firm focused on buyout and growth equity investments.
Fubon Financial and China’s State Development & Investment Corp. reportedly have agreed to partner on a $440 million private equity fund aimed at the Fujian province.
FUEL Capital is raising $100 million for its debut fund, as first reported by Zero2IPO. The focus is on the first institutional rounds for Chinese companies that already have some revenue. The firm is led by longtime Intel Capital vet Cadol Cheung, who most recently served as head of its Asia-Pacific investment activity. VentureWire reports that FUEL’s team also includes S.C. Mak, a former managing director in Walden International’s Hong Kong office, and Intel Capital’s former in-house counsel Joseph Cha.
KKR reported third quarter net revenue of $656.6 million, compared to a Q3 2008 loss of $465.6 million the previous year. The unit formerly known as KKR Private Equity Investors’s net asset value per unit was $16.98, compared with $14.66 three months previously. KKR said private equity dollars invested during the past quarter totaled $1.1 billion. It has $14.2 billion of capital left to invest from across all its funds.
TPG is offering to cut the size of its financial fund, TPG Financial Partners, from $6 billion to just $2.5 billion.