Mount Kellett Capital Partners, which has secured $2.5 billion in pledges for its debut fund, helped to push the fund-raising totals of buyout and mezzanine firms to $31.4 billion, year-to-date. Mount Kellett, which focuses on investments in Asia, had originally targeted the fund at $5 billion.
In addition to Mount Kellett, ABS Capital Partners last week closed its latest investment vehicle above its target of $400 million. ABS Capital Partners VI secured $420 million in pledges. The Baltimore, Md.-based shop usually invests between $10 million to $30 million in later stage growth companies. It focuses on the business services, health care, media and communications, and software industries.
Thomson Reuters (published of PE Week) tracked six LBO deals during the past week. The only one that disclosed financial terms was MatlinPatterson’s Huntsman Corp., which acquired Metrochem Industries Ltd.’s textile effect division that operates in Baroda, India, for $46.5 million.