Christopher Witkowsky

European private equity firm Triton is buying healthcare platform Ambea for €850m.

The $10.5bn pension is building its infrastructure portfolio, and has not yet committed to a manager. The pension was looking at Alinda Infrastructure Partners, but ultimately declined to commit to the firm.

The Los Angeles-based firm will pay $1m to the New York Common pension fund and has agreed to exit the placement business.

The pension, with $12bn in assets, has committed $80m to Enhanced Equity and American Securities in its latest private equity commitments.

The White House hopes to ‘put an end to the risky practices that contributed significantly to the financial crisis’ by forbidding commercial banks from owning private equity or hedge funds.

Clark was integral in helping move forward the state’s early efforts at building a private equity programme.

Documents also reveal Quadrangle paid a fee to UBS for the successful outcome of an LP vote to preserve the investment period on its latest fund after a key-man clause was triggered.

Jeffrey Gundlach allegedly set up his firm, DoubleLine Capital, by stealing TCW’s client information. The firm invests in infrastructure, real estate, distressed debt, energy and mezzanine strategies.

The bill now goes before the US Senate, and if approved will likely be signed into law by President Obama.

PCG Asset Management would run the programme, which would target original commitments of between $5m and $20m.