Lindsay Goldberg LLC held a first close on $2.7 billion for Lindsay Goldberg III LP, which has a $4 billion target. Towerbrook Capital Partners raised $1.7 billion for Towerbrook Investors III LP, which has a $2.75 billion target; UBS Securities is the placement agent. In addition, Avenue Capital Group completed the first close of Avenue Europe Special Situations Fund at €563 million ($867 million). The distressed debt fund has a €1.5 billion goal.
On the deals side, there were 20 control-stake transactions during the past two week, and the five deals with disclosed prices had a combined value of $504.2 million, according to Thomson Reuters, publisher of Buyouts.
The largest deal of the latest period was by sponsored by Angelo Gordon & Co., Silver Point Capital and BRC Properties Inc. The trio acquired the remaining 53.9 percent interest it did not already own in Dominion Homes Inc., paying $206.9 million for the stake.
The pace of deal flow has been slow and year-to-date deal volume by U.S.-based firms crawled up to $56.1 billion.