Some buyout and mezzanine firms disclosed additional fundraising efforts that raised the 2010 total to $69.38 billion. Stone Point Capital contributed to the revision. It closed Trident V LP at $3.5 billion. The Greenwich, Conn.-based shop was seeking $2.25 billion.
Fundraising for 2011 is tracking at $2.18 billion. Centerbridge Partners secured additional commitments for Centerbridge Capital Partners II LP, which has raised a total of $2.2 billion from 93 investors. The target is $3.75 billion. Morgan Stanley Investment Management also held the final close of its first dedicated corporate mezzanine fund, Morgan Stanley Credit Partners LP, at $956 million.
In addition, Plexus Capital LLC topped its $150 million target for its latest investment vehicle. The firm raised $165 million for Plexus Fund II. The Charlotte, N.C.-based firm makes investments in subordinated debt and equity securities in small- and medium-sized businesses.
Buyouts’s publisher Thomson Reuters tracked 27 LBO transactions during the first 10 days of the new year. Four deals reported financial terms and had combined value of $386.6 million. One of the period’s deals involved Spectrum Equity Investors LP’s indirect Cerasus II Ltd. subsidiary, which acquired software developer Trintech Group PLC. The transaction had a rank value of $109.1 million.