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Market At A Glance

Domestic buyout and mezzanine shops showed progress in their fundraising efforts in 2011. They collectively secured about $90.47 billion compared with the $69.3 billion tally for all of 2010, which was surpassed by the end of October.

In the past year, several funds closed above targets. Blackstone Group LP’s Blackstone Capital Partners VI LP raised $16 billion. The target was $15 billion. Lone Star Funds finished marketing Lone Star Real Estate Fund II LP with $5.5 billion. The fund was seeking $4 billion. In addition, TCW Capital’s TCW Energy Fund XV easily passed the $2.5 billion it was seeking. It collected $4.1 billion.

On the deals front, Thomson Reuters (the publisher of Buyouts magazine) tracked 938 completed deals involving U.S.-based financial sponsors. From these, about 191 disclosed financial terms and combined for $97.6 billion.

The year was paced by Blackstone’s purchase of the U.S. property portfolio of Centro Properties Group. The real estate deal had a rank value of $9.4 billion. The $5.3 billion purchase of Del Monte Foods Co. by an SPV formed by Kohlberg Kravis Roberts & Co. LLP, Vestar Capital Partners and Centerview Partners Holdings LLC also contributed to the deal flow.