Welsh Carson Anderson & Stowe closed its 11th fund with $3.7 billion in pledges, leading all fund-raisers in the past week.
The New York-based shop started marketing the vehicle in 2007 and originally discussed a target range of $4 billion to $5 billion (see story, page 4).
Welsh Carson and other buyout and mezzanine shops have now raised $27.7 billion in new funds so far this year.
Also active on the fund-raising front last week was Solamere Capital, which obtained $186 million for Solamere Founders Fund I from 39 investors. The Boston-based shop started to seek pledges for the investment vehicle in June 2008.
The firm was formed by a group that includes Tagg Romney, son of Bain Capital founder Mitt Romney.
In addition, Peachtree Equity Partners has raised $60 million for the first close of Peachtree II. The Atlanta-based firm, which formed the fund in May, invests $3 million to $10 million in companies that generate $2 million to $10 million in EBITDA. It invests in the manufacturing, business services, government contracting and non-lending financial services sectors.
Thomson Reuters (publisher of PE Week magazine) tracked eight LBO deals from May 28 to June 3. The two with disclosed financial terms added $53.2 million to the year-to-date total deal volume, which now stands at about $6.99 billion.
SK Capital Partners II’s acquisition of Solutia Inc.’s nylon materials business unit for $50 million was the week’s largest deal, followed by the $3.15 million purchase of Tollgrade Communications Inc.’s cable status monitoring product line by an investor group that includes Hawthorne Group Inc. and Rosetta Capital Corp. —Eamon Beltran