Matt Levin

The Corsair Capital-backed bank has declined to extend $175m in debt for Kohlberg & Company’s acquisition of sports caterer Centerplate. Last month, National City agreed to a $5.2bn government-backed merger with PNC Financial Services Group.

The $147bn pension has responded to the denominator effect by increasing the amount it is allowed to invest in private equity to 15% of total assets. CalSTRS has similarly bumped its real estate allocation.

The $147bn pension has responded to the denominator effect by increasing the amount it is allowed to invest in private equity to 15% of total assets. CalSTRS has similarly bumped its real estate allocation.

SS&C Technologies, which develops financial management software for hedge funds and institutional investors, filed for a NASDAQ float last year. Carlyle acquired the company in a $941m take-private in 2005.

The seeding arm of the hedge fund of funds has provided a $75m anchor investment in London-based Beechbrook’s first ever vehicle.

The financial services-focused firm has hired Mitchell Caplan, former chief executive of the online stock trading giant. Founded in 2005 as a joint venture between Venturion Capital and Jeffrey Greenberg, Aquiline is currently investing its debut $1.1bn fund.

The arts and crafts big-box chain has drawn an aggregate of $120m from its senior secured asset-based credit facility to ‘meet its cash needs while there are disruptions in the debt markets’. Bain and Blackstone bought the US retailer in 2006 in a $6bn deal.

The publicly listed private equity firm, battered by the public markets, has increased the stake the Chinese sovereign wealth fund can own in the firm from 9.99 percent to 12.5 percent.

African fundraising soared to unprecedented heights in the first six months of 2008, but the second half of the year may not be as rosy, writes Matt Levin.

African fundraising soared to unprecedented heights in the first six months of 2008, but the second half of the year may not be as rosy, writes Matt Levin.