Market at a glance

Norwest Equity Partners closed two funds totaling $2.40 billion. Its tenth buyouts fund, Norwest Equity Partners X LP, held its close at $1.60 billion, and its fourth mezzanine fund closed at $800 million. Old Ironsides wrapped up its second energy focused fund way above its $750 million target. Old Ironsides Energy Fund II had its final close at $1.36 billion. Quantum Energy Partners also closed an energy fund, as its sixth primary fund finished nearly a billion dollars over target, at $3.45 billion. Ares Management guided its distressed debt fund, Ares Special Situations Fund IV LP, to a final close of $1.50 billion.

The 2015 completed deals total grew another $1.50 billion in the last two weeks. Of the deals with disclosed values, the headliner was Latvian commercial bank Citadele Banka AS, acquired by an investor group for $93.25. The group was led by Ripplewood Holdings LLC and Baupost Group LLC. A unit of ArcLight Capital, MYR Group Inc bought electric power distributor, ES Boulos Co Inc, for $11.40 million. Oaktree Capital Group LLC paid $8.21 million for the remaining stake in Pulse Electronics Corp. Oaktree paid $1.50 for each of the 5.48 million shares of the electronics manufacturer that it did not already own.