Insight raises more than $400M for two funds

Insight Equity Holding highlighted the fund-raising activities of the past week for buyout and mezzanine firms.

The Southlake, Texas-based firm raised $312.5 million for Insight Equity Fund II, which has a target of $500 million. The firm also secured $99 million for Insight Mezzanine Fund I. Among its LPs is Los Angeles Fire and Police Pensions, which committed to both funds (see story in LP Notes, page 5).

UBS Securities

is serving as placement agent for both investment vehicles.

The efforts of Insight helped push the amount raised year-to-date by buyout and mezzanine firms to $29.9 billion.

Deal Activity

Meanwhile, deal volume for disclosed transactions in the buyout industry has edged up only slightly to about $7.19 billion.

Thomson Reuters (publisher of PE Week) tracked only four leveraged buyouts during the past week. In the week’s only disclosed deal, MatlinPatterson Global Advisers acquired Foamex International Inc. from a unit of De Shaw & Co. MatlinPatterson Global paid $155 million for maker of plastic foam products, which had previously filed for bankruptcy. —Eamon Beltran