Kevin Ley

The Chicago-based firm hit its hardcap, having adjusted down its $1bn target early last year amid tougher fundraising conditions. It's the first fund it has raised since partners Carl Thoma and Bryan Cressey split their prior firm along investment strategy lines.

The $153bn New York State Common Retirement Fund is planning to invest at least $30m in the emerging Northern Ireland economy, with two deals expected to be announced within the next few weeks.

Euronext-listed fund of funds Lehman Brothers Private Equity Partners is changing its name to NB Private Equity Partners and will help its bankrupt parent company unload 14.5 million shares in secondary transactions beginning in mid-2010.

A recent poll of institutional and private investors has revealed that a number of participants are scaling back their private equity commitments and planning to stay out of the market for the near term.

The US radio and advertising company, which was purchased by Bain Capital Partners and TH Lee last year in a $17.9bn deal, had its rating fall to deeply speculative territory, with Moody’s warning of default.

As LPs increasingly push back on deal terms, GPs may want to consider some relatively low cost moves to mitigate their concerns, writes Kevin Ley.

The €81m merger of Snell & Wilcox and Pro-Bel, two of Europe’s biggest broadcast technology companies, will give both private equity firms a 20% stake in the combined entity and provides a partial exit for Advent.

The firm is buying Florida-based Gevity HR to expand its human resources portfolio company TriNet.

The deal by the Los Angeles-based firm to purchase Delphi’s steering operations for $190m fell through after the two sides couldn’t come to terms, with General Motors now agreeing to acquire the business.

The New York State Common Retirement Fund committed $300m to a fund managed by Franklin Templeton Real Estate. It came as the state’s comptroller called for more flexibility in potentially increasing alternative investments.