Co-founders and General Partners Kevin Brandon and Stephen McCall established the Manhattan, N.Y.-based shop in late 2007 after leaving
The vehicle is focused on making control investments in information services, business services, media and communications services. Blackpoint Equity hopes to hold a first close early this fall and has retained placement agent Atlantic Pacific Capital to help raise the fund.
Representatives of Blackpoint declined to comment on the fund-raising.
Seaport Capital Partners III closed in 2006, having raised $78.5 million, short of its $300 million target. Seaport Capital established its fourth fund in April, seeking to raise $200 million, according to a regulatory filing. Seaport executives were unavailable for comment. —Nancy Gordon
Alinda returns to market
“It’s quick, but not as quick as it sounds,” says a source close to the firm. “The first fund was nearly 75% committed when it closed, so they’re mostly out of money.”
Alinda is targeting $3 billion for the new fund, and is fast approaching that figure. Don’t be surprised if it ends up closer to $5 billion, since the firm targeted $1 billion for its inaugural fund. Citigroup and PTP Securities are serving as placement agents.
Alinda was formed in 2006 by Chris Beale, former global head of project finance at Citigroup (and at Morgan Stanley and Credit Suisse First Boston, before that) and other members of his Citigroup team. It has offices in New York and London. —Dan Primack
Riverside halfway to $1.25B target
The firm is believed to be asking for higher fees to help sustain its expanding payroll of deal-generating and operating executives. Co-CEO Béla Szigethy declined to comment on the proposed fees. Similarly, an investment officer with The
The fund, Capital Appreciation Fund V, has raised $550 million in commitments from return and new investors, confirmed spokesperson Christine Croissant. Riverside’s last general buyout fund was the 2003 Riverside Capital Appreciation Fund, which raised the $750 million. The fund generated an IRR of 17.1% as of June 30, 2007, according to data from the
In June, the firm made its first acquisition with its fifth fund, buying ITEL Laboratories, a Jacksonville, Fla.-based independent tester for determining the fair-market replacement value of damaged products. Riverside acquires companies in the automotive, business services, food, health care, manufacturing, media and technology industries.
The firm has specialized in the smaller end of the middle market since 1988. In 2006, the firm has acquired 26 companies; in 2007, 28 deals were completed. So far this year, Riverside has finalized 19 deals. —Nancy Gordon
Primus closes sixth fund
The Cleveland-based firm makes growth equity financings, recapitalizations and management-led buyouts in the health care, business services and education industry sectors.
The firm raised $285 million for fund V, which closed in 2000.
Vista vies to raise $1.4B
First Reserve collects more than $4.5B
The Greenwich, Conn.-based firm is targeting $12 billion, with a $16 billion hard cap. First Reserve focuses on private equity opportunities in the energy sector.