Market At A Glance

The final quarter of 2011 started off with J.F. Lehman & Co. closing JFL Equity Investors III LP with $575.5 million in commitments. The New York-based firm, which focuses on the defense, aerospace and maritime industries, raised an amount that exceeded its original $450 million target.

Lightyear Capital LLC has $653.8 million (and $700 million including general partner commitments) for Lightyear Fund III LP. The fund has a target of $800 million and a $1.1 billion hard cap. UBS Securities LLC is the placement agent. In addition, Comvest Investment Partners closed its latest fund at $580 million. Comvest Investment Partners IV had a $500 million target. These and other fundraising efforts brought the year-to-date tally to $65.4 billion.

The deal activity of U.S.-based financial sponsors has been active since Buyouts’s deadline for the third-quarter issue. The latest figures from our publisher Thomson Reuters puts deal flow this year at $78.5 billion. Leonard Green & Partners LP and CVC Capital Partners Ltd were part of the largest transaction in recent weeks. They acquired the 90.5 percent stake in BJ’s Wholesale Club Inc. remaining in public hands through a special purpose acquisition vehicle. The deal had a value of $2.4 billion.