Market wrap up: Alinda’s oversubscribed fund leads the way

Efforts by several buyout and mezzanine shops brought the year-to-date fund-raising total to $5.2 billion.

Alinda Capital Partners led the way during the latest period. The New York-based shop obtained more commitments for its second infrastructure fund, closing Alinda Infrastructure Fund II with $4 billion. The final close was well above the $3 billion target.

The firm claims to be the largest fund manager nationwide of pension assets for infrastructure investments, and the second largest worldwide. Alinda Capital raised $3 billion for its debut fund, which closed in 2007.

As reported in PE Week last week, LPs include the Alaska Permanent Fund Corp. (which committed $250 million), Washington State Investment Board ($400 million), California Public Employees’ Retirement System ($300 million), Oregon Public Employees Retirement Fund ($200 million) and the Kentucky Teachers’ Retirement System.

Other firms that raised money in the past week include Invision Capital, which secured $15.4 million in pledges from 23 investors for its debut fund. The Chicago-based firm is seeking to raise $50 million for Invision Capital I.

Deal activity

There were a dozen LBO transactions during the past week, according to Thomson Reuters (publisher of PE Week). Only one deal disclosed financial terms. Trimaran Capital Partners Brite Media Group subsidiary completed its purchase of Outdoor Partner Media Corp.’s Intelligent Media Corp. unit, a provider of advertising services, for $2 million.

Overall, deal flow through Feb. 10, inched up to $2.61 billion. —Eamon Beltran