Ken MacFadyen
Kohlberg Kravis Roberts, Goldman Sachs and Lewis Ranieri’s Five Mile Capital have completed the roughly $9bn transaction for a control stake in GMAC’s commercial mortgage unit.
The Pennsylvania Public School Employees’ Retirement System (PSERS) publicised its 2005 investment performance, which was buttressed by strong growth in its alternatives portfolio.
Evercore Capital Partners has agreed to take over Davis Petroleum in a $150m management recapitalisation. Sankaty Advisors and Red Mountain Capital Partners are co-investing in the deal.
TowerBrook Capital Partners has held a $1.3 billion final close on its inaugural fund. The TowerBrook team spun out of Soros Asset Management in April of last year.
Brad Greenspan, the former head of Myspace.com parent Intermix Media, is suing the company and its former VC backers, VantagePoint Venture Partners, claiming he was unjustly squeezed out.
Trans World Entertainment has agreed to buy Sun Capital portfolio company Musicland out of bankruptcy. The company’s stay in Chapter 11 has reportedly been tainted by allegations of impropriety.
Fenway Partners has added onto its sporting goods platform, Riddell Bell Holdings, acquiring baseball bat maker Easton Sports in a $400m deal. Teachers’ Private Capital has joined Fenway in the investment.
InterMedia Advisors, the private equity partnership established by long-time media executive Leo Hindery Jr., has held an interim close on its inaugural fund, a $1.5bn targeted vehicle.
Investcorp has agreed to take France-based parts distributor Autodistribution off the hands of Goldman Sachs, which gained control of the company after it went into receivership.
The sale of Anteon International will end the company’s ten-year run in the Caxton-Iseman Capital portfolio and bring the firm a significant profit in the process.