Toby Mitchenall
The FIG-focused firm is rounding off 2009 with its fourth acquisition of the year.
The South African firm hopes to raise as much for Fund VI as its $750m predecessor.
The parent company of Istithmar – the private equity platform that owns stakes in Barneys New York, Cirque du Soleil and hedge fund operator GLG Partners – has asked creditors to accept a standstill on its $60bn of debt.
The Hastings Infrastructure Debt Fund III will predominantly lend junior debt to infrastructure projects and businesses in sectors such as utilities, transport, telecommunications and social infrastructure.
Ravi Sinha will leave the firm to be replaced by Flowers’ Australia head David Morgan. The firm has also recruited former UK regulator Sir Callum McCarthy.
Canadian pension plan OMERS is among co-investors in the European venture, which will be led by Tim Flynn, Goldman Sachs’ former European head of leveraged finance.
The British DFI has committed $5m to local manager Manocap.
As buyout firms adapt to a low-leverage investment climate, research suggests that debt has never been the dominant driver of private equity returns.
The emerging markets bank is raising a ‘new and unique’ fund to stimulate the debt capital markets in Sub-Saharan Africa.
The listed private equity firm has sold its remaining stake in Dutch business Dockwise to a consortium of investors including Bain Capital’s credit arm, Sankaty.