Among recent developments, Lovell Minnick Partners held a $275 million first close on its latest fund, Lovell Minnick Equity Partners IV LP, which is targeting $550 million.
On the deal front, Thomson Reuters, the publisher of Buyouts, tallied 40 new deals among U.S.-based financial sponsors during the past two weeks. The aggregate value of those that disclosed terms increased by more than $1.3 billion to $57.88 billion so far this year.
In the largest deal to close over the past two weeks, an investor group comprising JPMorgan Chase & Co and Lone Star Funds acquired the real estate debt portfolio of Eurohypo AG, a German-based commercial bank, and a wholly owned unit of Commerzbank AG’s Commerzbank Inlandsbanken Holding GmbH subsidiary, for an estimated 308 million euros ($417 million), based on the industry standard capitalization rate (or leverage rate) of 7 percent.
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