Jennifer Harris

Lehman Brothers is following the example of Golman Sachs, KKR and others in launching a fund that will pick up deal-related debt at a discount.

AIG Highstar Capital’s third fund is four times the size of its predecessor, as investor interest in infrastructure continues to rise.

The Princeton University endowment returned 24.7 percent for the fiscal year 2006-2007, increasing its assets from $13 billion to $15.8 billion. The US endowment allocates 15 percent of its portfolio to private equity funds.

In the third auto parts buyout in two weeks, Norwest Equity Partners has sold Imperial Supplies to American Capital Strategies for $112 million in equity and debt.

The Global Emerging Markets Group has agreed to acquire a 49 percent stake in a coking coal reserve in Inner Mongolia. The deal is GEM’s second direct private equity investment in the country.

First Reserve has committed $300 million to a joint venture with former OMI chief executive Craig Stevenson, formed to pursue energy-related shipping investments.

Clothing marketer the Kellwood Company, whose brands include Baby Phat and Nautica, has rejected Sun Capital’s $21 per share bid, deeming the offer price too low.

The state of California has passed a law requiring that CalPERS and CalSTRS divest from companies that do business in Iran, but unlike similar bans elsewhere, private equity is not affected.

Bessemer Venture Partners has promoted Devesh Garg to managing director for its growing India team, four months after allocating $350 million for investments in the region.

As the chair of the Institutional Limited Partners Association, CalPERS’ Joncarlo Mark will focus on growing the organisation’s research and education platforms.