AI Capital, a Tokyo-based investment firm majority owned by Mitsubishi, has plans to raise a third private equity fund of funds next year, Bloomberg reported. The firm has committed $634 million to buyout firms since 2002.
The Carlyle Group has agreed to share 80 percent of fee income on its fifth fund with investors, Bloomberg and The Wall Street Journal reported. The split is an increase from the current 65 percent it shares with LPs.
China Investment Corp., the country’s sovereign wealth fund, may invest up to €800 million ($1.2 billion) in British private equity firm Apax Partners, the Financial Times reported.
Electra Private Equity is back targeting distressed sellers for new deals after a year of firefighting to protect investments and limit declines in asset valuations. The U.K. firm said NAV per share for the 12 months ended Sept. 30 slipped 4.5 percent to 1,720 pence, the top end of analyst forecasts, driving its shares 6.1 percent higher.
Fort Washington Investment Advisors has agreed to acquire the investment advisory business of the Sena Group. The deal is expected to bring nearly $1 billion in new assets into Fort Washington’s wealth management group, which currently has around $31 billion in assets under management.
Golub Capital, a mid-market lender, has filed its registration for an IPO worth $150. Wells Fargo Securities LLC and UBS Securities LLC will serve as joint bookrunners for the offering, with Stifel Nicolaus & Co. Inc. and BMO Capital Markets Corp. serving as co-managers.
Hudson Clean Energy Partners has officially closed its debut fund, Hudson Clean Energy Partners LP, with commitments of $1.024 billion. The fund had a target of $1 billion. C.P. Eaton Partners LLC served as lead placement agent for the fund, and was assisted by Credit Suisse and Poalim Ventures Ltd.
J.W. Childs Associates has withdrawn its registration to raise $200 million for a special purpose acquisition company. No explanation was provided.
Lone Star Funds has raised more than $1.2 billion for two funds that will invest in commercial real estate and securities, Bloomberg reported. The firm, led by John Grayken, has secured pledges for more than $500 million for Lone Star Fund VII and about $725 million for Lone Star Real Estate Fund II.
PAI Partners, France’s biggest private equity group, has got the go-ahead from investors to re-open its fifth buyout fund, but on a more modest scale and with governance that is more favorable to LPs. The size of the fund, which has already deployed €900 million, will be cut in half to €2.7 billion.
Swiss Investment Fund for Emerging Markets, based in Geneva, agreed to participate in a $100 million fund to buy distressed small and medium-sized assets in Egypt, according to Reuters.
Triton Partners, a U.K.-based buyout firm, has secured $472 million in LP commitments toward its third fund, according to a regulatory filing. The vehicle, called Triton Fund III LP, has a target of $2.97 billion (converted from Euros as of November 6, 2008, when the fund was created).