Jennifer Harris

TPG has hired Southeast Asia banking vet Jerry Ng to lead its Indonesia business, as the firm looks to strengthen its position in that country’s financial services sector.

Vikram Pandit, a fund of funds entrepreneur and former Morgan Stanley executive, will lead Citi’s newly combined alternative assets and investment banking units, making him a direct report to chairman Chuck Prince.

Caltius Capital Management has held a final close on its second private equity vehicle, which has commitments from limited partners including several CalPERS- and CalSTRS- backed investment vehicles.

In their second joint acquisition this year, Paul Prager and Natural Gas Partners will acquire a portfolio of power generating stations and transmission projects for $342 million.

Morgan Stanley will buy US supermarket chain Tops for $310 million. The deal is the US investment bank’s second since re-launching its private equity division last year.

TPG, KKR and Goldman Sachs have completed the US’ largest-ever buyout in the form of their controversial, $45 billion deal for Texas energy utility TXU.

After a nearly decade-long holding period, New York-based Conduit Capital has successfully exited its stake in Colombia coal power plant Termotasajero.

Guggenheim Aviation Partners has closed its second fund on $737 million, more than twice the size of its 2005 debut vehicle.

Former Apax, USBX and Arthur Anderson executives have founded Egis Capital to take advantage of rising government spending in the defence sector. Next year the firm plans to raise a $200 million fund.

New York firm Braemar Energy Ventures has raised $250 million for its second fund, which is more than 4 times the size of its predecessor.