Market wrap up: GSO Capital leads fund-raising effort

Buyout and mezzanine shops have secured $34.2 billion in capital so far in 2010. The latest increase was led by GSO Capital Partners, the credit affiliate of The Blackstone Group. It completed the fund-raising drive of Blackstone/GSO Capital Solutions Fund at more than $3.25 billion, surpassing the original target of $2 billion.

In addition, Kinderhook Industries has raised $282 million for Kinderhook Capital Fund III. The commitments were obtained from 82 investors. The New York-based shop has a $400 million target for the investment vehicle.

Deal volume

Thomson Reuters (publisher of PE Week) tracked nine leverage buyout deals from July 7 through July 13. Only two of the transactions reported financial terms that combined for $1.1 billion. This padded year-to-date deal volume to about $28.1 billion.

Apollo Management was involved with the larger of the two LBOs with known financial details. Its Columbia Lake Acquisition Holdings Inc. subsidiary acquired CKE Restaurants Inc., which owns and operates fast food restaurants, including Carl’s Jr. and other brands. The deal has a rank value of more than $1 billion.

ArcLight Capital Partners’ ArcLight Energy Partners Fund III was at the center of the other deal last week with a disclosed transaction value. It acquired KGen Sandersville, which owns and operates a power plant, from KGen Power Corp. for $130 million. —Eamon Beltran