Successful firms included Marathon Asset Management LLC, which raised more than $805 million for its latest investment vehicle, Marathon Asset Management Fund, which is an open-ended special opportunities vehicle. Also, Yucaipa Cos. secured a $400 million pledge from the California Public Employees’ Retirement System, bringing the West Hollywood, Calif.-based firm’s total committed capital to $462.5 million for its American Alliance Parallel Fund II.
The past fortnight also saw a total of nine deals, according to Buyouts’ publisher Thomson Reuters. The four with disclosed financial terms had a combined valuation of $948.4 million. The period’s largest LBO deal was Lindsay Goldberg LLC’s acquisition of PNM Resources Inc., a utility, for $640 million.
The ongoing tally of control-stake deals with LBO sponsors this year rose slightly to 43 transactions. Those with known financial terms have a combined value of $1.72 billion. Two weeks ago, the deal count was 34 and the disclosed valuation totaled $774.2 million.