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Market At A Glance

Fundraising activities by U.S.-based buyout and mezzanine shops made strides so far this year. It was particularly active during the latest second quarter through June 23. To date, roughly $42.3 billion in commitments were secured.

Centerbridge Partners LP obtained $3.81 billion in pledges for Centerbridge Capital Partners II LP. The New York-based shop was seeking $3.75 billion. Investors include Los Angeles Fire & Police Pensions.

Mezzanine was one of the period’s highlights. The mezzanine commitments raised during the latest quarter easily passed the total of the previous quarter ($1.63 billion). The capital picked up by the likes of TCW Energy Fund XV and KKR Mezzanine Partners I LP brought the year-to-date mezzanine fundraising total to $5.04 billion.

On the deals front, Thomson Reuters (the publisher of Buyouts magazine) counted 358 transactions by U.S.-based financial sponsors since the start of the year. The total value, from those with reported financial terms is about $34.3 billion.

Clayton, Dubilier & Rice LLC completed the second quarter’s largest deal, with its purchase of Emergency Medical Services Corp. The acquisition of the Greenwood Village, Colo.-based provider of emergency medical care services has a rank value of $2.92 billion. The sellers were Onex Partners LP and other shareholders.