Market At A Glance

Despite the lack of news on commitments, a few firms were preparing to seek monies. In particular, Corsair Capital LLC is returning to market with another financial services investment fund. The New York-based firm has set a target of $1 billion for the vehicle with a launch expected in the second quarter.

There were ten LBO transactions during the past fortnight, according to Buyouts publisher Thomson Reuters. Two of the deals disclosed financial terms. The first involved the acquisition of IndyMac Bancorp Inc., a bankrupt bank holding company in Pasadena, Calif. An investor group that includes JC Flowers & Co. LLC and Soros Strategic Partners LP, paid $1.3 billion to complete the purchase.

The other concerned a Vector Capital Corp.-led investor group that acquired the remaining 86 percent it didn’t own of Aladdin Knowledge Systems Ltd., an Internet software developer, for $127.3 million.

These transactions lifted year-to-date deal volume to $3.3 billion.