In all, U.S.-based managers of buyout and mezzanine funds have raised $82.8 billion so far this year.
On the deals side, U.S.-based LBO shops closed 20 control-stake transactions, according to Thomson Reuters. Only seven transactions had disclosed prices, totaling a paltry $1.3 billion. Platinum Equity LLC’s acquisition of Covad Communications Group Inc. for $419.3 million was the largest LBO. It was followed by the purchase of Vernon, Calif.’s generating and transmission portfolio for $342 million by an investor group that includes NGP Energy Capital Management.
Year-to-date, the disclosed value of deals completed by U.S.-based LBO has reached $47.6 billion.