U.S. buyout and mezzanine firms have secured $52.2 billion in commitments so far this year.
The increase in the year-to-date tally from the figure we reported in the previous issue stems in part from Buyouts starting to more consistently include private-equity real estate in fundraising activities we track going forward. This category represents about $14 billion of the total so far this year.
The total includes Ares Management LLC’s effort to secure $3.2 billion for Ares Corporate Opportunities Fund IV LP. The Los Angeles-based firm obtained commitments from 69 investors for the fund that has a $4.7 billion target.
Thomson Reuters (the publisher of Buyouts) tracked 21 transactions involving U.S.-based financial sponsors from April 22 to May 2. The five with disclosed valuation combined for $839.6 million, which brought year-to-date deal volume to $13.8 billion.
Chicago, Ill.-based Madison Dearborn Partners LLC took part in the latest period’s top deal. Its August Lux Holding Co. unit acquired Schrader International Inc., which makes and sells mechanical valves, from Tomkins PLC for $505 million. The deal includes Tire Pressure Monitoring Systems and fluid control components. Tomkins is equally owned by Onex Corp. and Canada Pension Plan Investment.