Buyout and mezzanine shops have capital commitments of roughly $49.5 billion so far this year. During the past three weeks, several shops held interim and final closings that contributed to the latest tally.
Stone Point Capital LLC secured $1.03 billion for Trident Fund V LP from 66 investors. Yorktown Partners LLC finished Yorktown Energy Partners IX’s fundraising drive at $1.15 billion, flat compared with its previous fund but below its $1.3 billion goal.
On the deals front, Buyouts’ publisher Thomson Reuters counted 23 LBO deals from Aug. 11 to Sept. 1. Five deals reported financial terms, and these pushed year-to-date deal volume up to $38.3 billion.
Most of the latest period’s volume came from ABRY Partners LLC. The Boston, Mass.-based firm purchased RCN Corp., a Herndon, Va.-based provider of cable television, telephone and Internet services. The transaction has a rank value of $1.19 billion.
One of the other transactions was Francisco Partners’ $36.5 million purchase of EF Johnson Technologies Inc., a maker of wireless communications products. Another involved Blackstreet Capital Management LLC, which bought seeds wholesaler Park Seed Co. for about $13 million via an auction. Blackstreet had the winning bid because it agreed to keep the business in Greenwood, S.C., for at least three years.