GCP Capital Partners also held the first close of its latest investment vehicle at $200 million. The New York-based shop is seeking $700 million for GCP Capital Partners III LP. GCP Capital typically invests $10 million to $75 million per transaction. It looks for companies with enterprise values from $50 million to $500 million.
Thomson Reuters (the publisher of Buyouts magazine) tracked 21 LBO deals from Nov. 10 to 24. The four with known financial terms combined for $300.7 million. Cerberus Capital Management LP and Drago Capital SL acquired 97 bank branches from Caja Madrid for about $136.8 million in a leveraged buyout.
Blackstone Group LP also purchased Pulse Staffing Ltd., a U.K.-based provider of recruitment services, from HgCapital Trust LLP. This transaction has a rank value of $121 million. The latest transactions brought the year-to-date deal volume to about $52 billion.