Dave Keating

The music retailer has changed top management for the third time in four years, and the new CEO says his main goal will be to sell the company.

The publicly-traded buyout and mezzanine fund has acquired the flight simulation and training center of the former Pan Am Airways for $58m.

Michael Gross, a founder and former senior partner of Apollo Management, has joined hedge fund Magnetar Capital as a senior partner, signaling Magnetar’s intention to focus on private equity investing.

The Cleveland, Ohio-based firm’s microcap fund, which is targeting companies with EBITDA of less than $3m, has made four acquisitions in less than a month.

After being recapped by JPMorgan Partners and Ares Management in 2004, House of Blues Entertainment has been sold for $350 million.

Clayton, Dubilier & Rice, The Carlyle Group and Merrill Lynch Private Equity reclaim almost half of their original equity investment in the rental car company via a debt-financing commitment.

Chartered Marketing Services, majority owned by TA Associates and Spectrum Equity Investors, will be sold to Intersections Inc.

The Washington, DC-based firm has closed its first mezzanine fund after making eight initial investments.

The San Francisco-based firm has acquired Delta Educational Systems, adding to their growing post-secondary education platform.

General Motors has agreed to sell a 51 percent stake in its General Motors Acceptance Corp to private investment groups affiliated with Cerberus and Citigroup in a $14 billion deal that is designed, in part, to help restore the financing unit’s credit rating.