David Snow

The global private equity firm, thanks to its acquisition of buyout firm Saunders Karp & Megrue, has realised a windfall from its holding in Charlotte Russe, a mall staple for budget-minded young women.

In a first for the firm, New York-based KPS Special Situations has realized a major return on its investment in Blue Heron Paper Company through a sale back to the company’s management and employees.

AA Capital, a Chicago and Detroit fund of funds manager that spun out of ABN AMRO in 1995, has been hit with an SEC restraining order pending an investigation into charges that the firm stole at least $10.7m from labour-union LPs. The firm has ties to eleven well known private equity firms, as well as to a Detroit strip club and the rap producer Shorty Capone.

TPG Newbridge, Texas Pacific’s investment arm in Asia, has moved its chairman of Asian/Japan operations to Tokyo from Hong Kong, and has nabbed a senior investment professional from Merrill Lynch in Japan.

Johnnic Holdings, a Johannesburg investment holding company, has made a commitment of as much as $43.5m to New York-based Blue Wolf, a new, government- and labour-focused middle-market buyout firm, led by two former New York City comptroller investment executives.

Freescale Semiconductor, based in Austin, Texas, saw its share price rocket 18 percent today following its confirmation that it is ‘in discussions’ over a possible deal. Two rival private equity groups are reportedly bidding for the company, including the same consortium that recently acquired the semiconductor unit of Philips.

The second largest pension fund in the US has made an ’unprecedented’ move by significantly expanded its target allocations to alternative investments, including private equity and real estate.

Horatio Sparkes, who oversees the investment of five New York City pension funds, including a nascent private equity programme, has submitted his resignation to city comptroller William Thompson.

Former KKR affiliate KSL and the Dedman family of Texas will buy resort, sports club and private club assets from Dallas-based ClubCorp in separate transactions valued at $1.8b.

As many as 900 people are expected to attend Carlyle’s annual investor meeting in Washington DC next week, during which the firm is expected to unveil further details about its new Middle East and hedge fund platforms.