One of the contributors was Primus Capital Funds, which completed its latest investment vehicle. The Cleveland-based shop closed Primus Capital Fund VII LP at $353 million. The target was $300 million.
Despite the slow pace of commitments secured, some firms began marketing their latest investment vehicles. New York-based Clayton Dubilier & Rice Inc. is seeking $5 billion for Clayton Dubilier & Rice Fund IX LP. TPG Capital is also planning to launch its first real estate fund with a goal of at least $1 billion, with marketing to start in the second half of 2013.
Thomson Reuters, the publisher of Buyouts, counted 23 deals from March 2 to March 17 that had U.S.-based financial sponsor involvement, including four with reported terms. Deal volume for the year climbed to about $14.1 billion. The latest period’s largest deal was by Advent International Corp.’s Al Garden BV, which completed a tender offer to acquire Mediq NV. The purchase of the Utrecht-based wholesaler and retailer of prescription drugs had a rank value of about $1.4 billion.