Graham Winfrey
The firm is more than half way to its $750m target for American Securities Opportunities Fund III.
.jpg "Ares seals $1.25bn strategic partnership")
Alleghany Corporation has bought a minority stake in private debt fund manager Ares Management for $250m.
The $12bn system is reviewing a new strategic plan that could see LACERS invest more in distressed debt and consider secondary sales of non-core investments.
.jpg "Oaktree’s Marks and Karsh eye $80m payday")
The firm’s co-founders will reduce their stakes in the business from 14.4% each to as little as 13.4% each as part of a secondary offering.
.jpg "Victory Park invests debt, equity in smaller deals")
The credit-focused firm has completed three investments in recent months, investing from both its $480m distressed fund and its debut SBIC fund.
.jpg "CPPIB grows private equity and debt holdings")
CPPIB Credit Investments' in the final quarter of 2012 included a C$400 million high-yield loan to CVC-backed Formula One Group
.jpg "Energy Capital hits $800m hard-cap for mezz fund")
The firm’s debut energy mezzanine fund had a $500m target and invests in energy companies similar to those in Energy Capital’s two private equity funds.
The firm posted its strongest overall year since going public, returning $3.5bn to investors at an average return multiple of 2.1x, but will likely put more capital to work in the US than Europe in 2013.
A dearth of available credit for lower mid-market businesses has attracted new debt vehicles, but fundraising remains difficult even for managers with strong track records.
Josh Hausman is Onex’s sixth managing director and senior-most investment professional in New York under senior managing director Robert Le Blanc.