Market at a Glance – Dealmaking sustains groundswell

Over the past two weeks, U.S.-based buyout and mezzanine funds added only $1.4 billion in commitments, bringing its sum to $50.7 billion on the year. Fundraising started hot in 2018, but lags last year’s monumental pace by $1.9 billion, or 3.6 percent.

Five Point Energy beat the $650 million target for its sophomore pool, finalizing at its $750 million hard cap. Five Point focuses on investments in the midstream and energy infrastructure sector.

Merit Capital Partners also went over target, wrapping up its sixth flagship at $536 million. Merit invests mezzanine capital in middle-market companies in manufacturing, distribution and services industries.

Pandion Mine Finance closed its maiden fund at $175 million. As the name suggests, the new firm provides capital solutions to developing mining companies.

Dealmaking surged through the end of Q1 and now sits at $66.7 billion. This year’s PE-backed total stands above the same time last year by $12.4 billion, or 22.8 percent. The past two weeks generated a quartet of deals with disclosed values surpassing the billion-dollar plateau.

The largest was for Husky Injection Molding Systems Ltd. Platinum Equity bought the manufacturer of plastics and rubber industry machinery for nearly $3.9 billion. USA Compression Partners, jointly owned by Carlyle Group and Riverstone, followed. The subsidiary acquired CDM Resource Management Ltd, a provider of gas compression services, for $1.7 billion.

Lone Star Funds’ buyout of building material retailer STARK Group A/S went for about $1.2 billion. Rounding out the foursome was the fire safety and oil additives businesses of ICL Israel Chemicals. SK Capital Partners completed the deal for $1 billion.

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Additional Data




Private equity job openings

Ratings Wrap-Up (March 20, 2018 – April 2, 2018)

Recent LP Commitments

Pricing Table_Mid Mkt_April 2018