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Market At A Glance

U.S.-based buyout and mezzanine shops have collected $33.34 billion so far this year. NGP Natural Partners held the initial close of its latest investment vehicle. The Irving, Texas-based firm secured $568.25 million for NGP Natural Resources X LP, which has a $4.75 billion target. The firm makes investments of $10 million to $500 million in oil and gas companies.

Gridiron Capital LLC also held the first close of Gridiron Capital Fund II LP, a source familiar with the situation told Buyouts. The fund has a $400 million target and a $500 million hard cap. New Canaan, Conn.-based Gridiron buys and builds mid-market manufacturing, service and specialty consumer companies that are based in the United States and Canada.

On the deals front, Thomson Reuters tracked 15 deals by U.S.-based financial sponsors from June 1 to June 14. Five reported financial details for a combined $703.5 million, according to the publisher of Buyouts magazine. Deal volume so far this year now stands at about $25.77 billion.

Advent International Corp. was involved in the past two weeks’ largest LBO. The Boston, Mass.-based firm acquired Provimi Pet Food ZRT, which is Provimi SA’s pet food business, for about $264.8 million.