Sushil Cheema
The acquisition of the placement agent Crane Capital Associates has added a global platform from which the bank can compete with the likes of Credit Suisse and UBS.
The Gordon Brothers affiliate will use the $320m fund to invest in the retail and consumer products sectors.
P3 and Pearl Holding have each substantially increased their net asset values underlining the record-breaking year enjoyed by private equity in 2006.
Hank Greenberg’s former Morgan Stanley advisor, Douglas Brown, has reportedly begun raising a fund through DLB Capital.
The Paris fund of funds, with €307 in fresh capital commitments, has already made commitments to 15 GPs.
The Houston energy-sector investor’s fourth fund follows its participation in the raising of Quantum Resources, a $1.2bn oil and gas reserves fund, with Aspect Energy in October.
The publicly traded merchant bank has committed $30m to Stroz Friedberg, which will use the money for employee incentives and to expand its geographic reach.
The firm will retain Phillips Investment Resources’ existing management team, led by John Coyle, the company’s president, and Thomas Phillips, its chairman.
The DLJ spinout has made plans to add to its long list of media-related investments with an agreement to purchase Minneapolis, Minnesota’s Star Tribune.
Quantum Energy Partners, Carlyle/Riverstone and Lime Rock Partners will back an ‘unconventional’ natural gas exploration company.