Graham Winfrey

The deal will generate a return multiple of roughly 3x for Warburg, which acquired the company in 2007 for about $3.67bn.

The Toronto-based firm will likely target more than C$100m for its Fund III, which will invest in mid-market companies in Canada in a variety of industries.

The firm will acquire clothing retailer rue21 using capital from its Fund VIII, which is targeting close to €6bn. Apax previously owned a majority stake in rue21, which filed for a $125m IPO in 2009.

The firm continues to pursue opportunities in Europe related to bank sales and distressed businesses but is also targeting ‘domestic consumption’ in Asia and ‘across the world’, KKR said during an investor conference.

The $13bn retirement system has committed $160m to private equity in 2013 and is growing its allocation from 2.5% to 8%.

The firm’s co-founders will reduce their stakes in the business from 14.4% each to as little as 13.4% each as part of a secondary offering.

The lower-mid market firm has generated a 40% IRR on its equity investment in Information Storage Consolidation Company as it seeks $75m for its Graycliff Mezzanine II fund.

The healthcare-focused firm is targeting slightly more than its $400m Fund II to invest in businesses in the US and Western Europe.

The firm is diversifying by acquiring Swiss fund of funds APEN alongside Fortress Investment Group and Newbury Partners. APEN is shifting its focus from fund investments to co-investments and secondaries in emerging markets.

Private equity fundraising and transaction values remained steady year-over-year in Canada, though the number of deals fell sharply during the first quarter of 2013.