Christopher Witkowsky

The Washington DC-based firm, founded in 2001, invests in companies that focus on various aspects of homeland security.

The Miami-based firm, which has sponsored 145 acquisitions and recapitalisations since its founding in 1981, has already invested 20 percent of the fund’s capital.

Edward Liddy, an operating partner with the New York buyout firm, is expected to return to Clayton Dubilier when he is finished with his duties at AIG, which yesterday entered into an $85bn government bailout. Liddy has been with the firm for about a year.

Amid the turmoil of its parent company, AIG's investment arm continues its Asian expansion with the hiring of Michael Chae.

The private equity firms are reportedly in discussions to buy Lehman’s investment management unit, which includes its $30bn private equity portfolio. The price of the investment management arm, around $5bn last week, may come down after Lehman’s bankruptcy filing today.

The New York-based firm has hired Gene Wolfson, former head of Citi's distressed equity trading group.

A Scotland-based company has raised a private equity fund and enlisted heavyweight LPs to finance the purchase of four industrial parts manufacturing business units from US conglomerate Textron.