Christopher Witkowsky

The Pennsylvania pension made its first private equity-related commitment this year, betting on a credit strategy.

The firm will use $1bn in equity in to purchase Busch Entertainment's 10 US theme parks, including Sesame Place, SeaWorld and Busch Gardens.

Invesco, TCW and Blackrock are among the firms that have held initial closings on funds that will buy distressed assets from banks and help reinvigorate the US credit markets.

The Canadian private equity firm is offering shares in the investment vehicle for C$10 per unit.

Oaktree has been collecting millions from a number of public pensions in the US for two investment vehicles.

The pension will not look for new commitments for a while as it takes time to monitor the state of the private equity industry.

A group of shareholders in Builders FirstSource allege JLL Partners and Warburg Pincus want to enrich themselves at the expense of other shareholders.

Lee Stern will work in KKR’s fledgling mezzanine business, which was formed in 2008.

A group of LPs has asked Sun Capital for the ability to shrink commitments to its $6bn fifth fund because of ‘liquidity issues’ and asset allocation imbalances.

The business development company has staved off bankruptcy for the short term as it eases its debt load by $174m.