Graham Winfrey

KKR Income Opportunities Fund is the firm’s first publicly listed closed-end fund and will be invested similarly to KKR’s high-yield, bank loans and special situations strategies.

The lower mid-market firm closed its fifth fund after just four months in market.

The exit of ReSearch Pharmaceutical Services marks the second time Warburg has sold a portfolio company to KKR this year, following the sale of tire maker Alliance Tire Group in April.

The Chicago-based firm has closed its second secondaries fund, which will target limited partner commitments in lower mid-market funds that are more than 30% invested.

Listed investment holding company Alleghany Corporation has bought a minority stake in Ares for $250m, joining existing investor the Abu Dhabi Investment Authority, and will commit up to $1bn in various Ares funds.

Despite a more favourable outlook for IPOs in both the US and Europe, US companies may soon report ‘disappointing earnings’ while uncertainty in Europe will keep deal volumes at low levels, according to Swiss advisory firm SCM.

The education sector is ripe with attractive businesses that perform well throughout market conditions, says principal at Sterling Partners Kim Vender Moffat.

M&A activity in the US should stabilise for the remainder of 2013, while the US private equity market is also poised for a steady level of activity through the end of the year, according to PwC.

PSP Investments’ private equity return helped grow the pension’s total assets to a record C$76bn during the 12-month period ending 31 March 2013.

The firm has sold menswear brand Joseph Abboud for $98m nine years after buying the business.