Suzanne Weinstock

Chrysler Financial, the lender Cerberus purchased alongside its corresponding auto unit last July, fell $6bn short of its $30bn target while renewing its credit facilities. The lender’s credit rating was reduced to B- last week on news of the company exiting consumer leasing.

The buyout firm, set to list on the New York Stock Exchange later this year, has added John Bryson, former Edison International chairman and chief executive, as senior advisor for its infrastructure initiative. KKR announced its infrastructure initiative in May and is reportedly raising a $5bn infrastructure fund.

Direct secondary investment firm Accretive Exit Capital Partners has closed its HarbourVest-backed debut fund on $125m and paid Evercore Capital Partners $110m for stakes in five assets. With its debut fund nearly fully deployed, Accretive will soon head to market with a fund targeting $300m to $400m.

The California-based firm, which invests in seed and early stage healthcare companies, has brought its capital under management to a total of $1.6bn with the closure of its fourth fund after two months in the market.

The private equity branch of UK-based Standard Life will add Jamie Ebersole to its roster of investment professionals as the firm seeks to rebuild its Boston office. Ebersole joins Eric Albertson, who was appointed North American investment director in May.

Despite a string of corporate venture capital arms failing after a late 90s boom, corporations are moving full steam ahead – or in some cases re-entering – into venture investing. Corporate VC arms say they have developed a deeper understanding of portfolio management options.

The US special situations private equity firm has doubled the size of its operations team and added one to its transaction team as the firm deploys its second fund.

The private equity units of Citi and Greenhill & Company will partner with senior management to buy out publicly traded BreitBurn for $305m.

MML Capital Partners, formerly known as Mezzanine Management, has led a mezzanine investment in Yonkers Raceway alongside limited partner New York Life Insurance Company affiliate New York Life Capital Partners.

Steven Rattner, after 23 years with the firm formerly known as Donaldson Lufkin & Jenrette, will retire to be replaced by fellow veteran Nicole Arnaboldi. Arnaboldi will take on the chairman responsibilities in addition to her current role.