The firm, which also has an office in London, has already invested in three companies, two in the industrial sector and one in the consumer sector. The companies are Generac Power Systems, a manufacturer of standby power generators for users in Wisconsin and Iowa; Edwards, the U.K.-based maker of vacuum products for the semiconductor market; and Aramark, a provider of food, support services and uniforms for health care institutions, universities, stadiums and arenas, and businesses.
Warburg secures $9B
Warburg Pincus has held a $9 billion first close for its tenth fund, according to a regulatory filing. The New York-based firm is targeting $12 billion with a $15 billion cap, and began fundraising this past March.
AIG closes fund III
Merrill Lynch and AIG Equity Sales Corp. served as placement agents.
Alpha raises new FoF
Limited partners include the European Bank for Reconstruction and Development, Kredietbank Luxembourg, Mutuelles du Mans Assurances and Minnesota Life.
Bear Stearns partners with China bank
Citic will invest in Bear Stearns through a 40-year convertible trust preferred securities that will convert to about 6% of Bear Stearns’ outstanding shares. Citic could potentially increase the stake to 9.9 percent.
H&F buy stake in Grosvenor
Lehman raises $670M
The total fund would be worth about $3 billion, including leverage.
Latin America fund secures $1.3B