Sushil Cheema

The addition of Lara Sullivan to the team follows the appointment of new partner John Leone and the departure of three partners.

Cerberus Capital Management has agreed to buy Novi, Michigan-based Tower Automotive, which will file for Chapter 11 bankruptcy with the Southern District of New York next month.

The Los Angeles buyout firm has tripled the size of its previous fund with the close of Green Equity Investors V.

Unitus Equity Fund has decided to set aside 10 percent of its profits to help the world’s poor gain access to microfinance.

The California-based firm’s investment has followed the first close of its first discretionary institutional buyout fund, Fairmont Capital Private Equity LP.

Some management team members of HealthSouth Corporation, the parent company of the surgery division to be acquired, will join the newly formed stand-alone surgery company.

One Equity partners, Oak Investment Partners and Rho Ventures have agreed to acquire direct marketing service company Vertrue.

The two groups have bought a majority stake in imaging services provider Alliance Imaging from KKR in a deal worth about $153m.

The Blackstone Group is set to raise $4 billion through an initial public offering on the New York Stock Exchange, confirming earlier reports that it would follow in the footsteps of Fortress Investment Group.

Following its initial public offering on February 9, the New York-based alternative asset manager has seen about a 25 percent premium over its pre-IPO annualized dividend.