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Stant Corp., a manufacturing company backed by private equity firm H.I.G. Capital, has acquired Romeo, Mich.-based Shelby Enterprises. Financial terms of the deal were not released. Shelby Enterprises is a supplier of filler pipe, vapor line and other products for the automotive industry. Connersville, Indiana-based Stant Corp. manufactures vapor and fluid control components.

Canadian private equity firm Onex has raised C$320 million ($314 million) in an initial public offering of its high-yield debt fund, OCP Senior Credit Fund, Reuters reported. The firm sold 32 million shares at $10 apiece. The offering was handled by a syndicate co-led by CIBC World Markets and RBC Capital Markets, Reuters said.

Scandinavian private equity firm Nordic Capital paid 450 million pounds ($719.2 million) for Britax Childcare, a company owned by U.S. buyout shop the Carlyle Group, Reuters reported, citing an article in the Financial Times. Britax, a U.K.-based maker of child-safety car seats, was bought by the Carlyle Group five years ago for 230 million pounds.

South Korea’s Hana Financial Group has offered more than 4.5 trillion won ($3.98 billion) for a controlling stake in Korea Exchange Bank, Reuters reported. Hana will buy the stake from Dallas, Texas-based private equity firm Lone Star. The deal is expected to be announced later this week, and will make Hana South Korea’s third largest financial services company by assets.

The CapStreet Group, a Houston-based private equity fund focused on the lower-middle market, has closed its third fund with $178 million. CapStreet did not release the names of limited partners, which the firm said include pension funds, insurance companies, funds of funds and family investment offices. The firm has already invested 30% of the fund across three investments, and will focus the remaining funds on control investments in privately-held businesses located in Texas and other states in the Southwest U.S.

Gain Capital Holdings has named Crevan O'Grady and Christopher Calhoun to its board of directors. O'Grady, a partner with private equity firm 3i, replaces 3i managing director Ken Hanau. Calhoun has served as a senior advisor to the company since 2009, and replaces board member Roger Tarika. New York-based Gain Capital provides online trading services specializing in foreign exchange and contracts for difference. The company is backed by investors including 3i, VantagePoint Venture Partners, Tudor Ventures, Edison Venture Fund and Cross Atlantic Capital Partners.

Chinese e-commerce company Alibaba Group is attempting a management-led buyout of the 40% of the company held by Yahoo Inc., Reuters reported, adding that Alibaba wants to end the relationship as Yahoo becomes a takeover target. Alibaba founder Jack Ma has reportedly been in talks with unnamed private equity firms to fund the deal. Yahoo bought its minority stake in the Chinese company in 2005, paying roughly $1 billion.

In advance of an initial public offering, Vietnam's state-owned Petro Vietnam Gas Corp. will auction a 15% to 20% stake in the company in effort to raise roughly $600 million, Reuters reported. Thailand's top energy company PTT has expressed interest in the auction. Other interested parties could include buyout shops Blackstone Group and Kohlberg Kravis Roberts, as well as oil and gas companies ConocoPhillips and India's Oil and Natural Gas Corp., Reuters reported

Private equity firm Clayton Dubilier & Rice will buy Tyco International’s electrical and metal products business in a deal valued at $720 million. Under the terms of the deal, a fund managed by Clayton Dubilier & Rice will pay $306 million for a 51% preferred interest in the business unit, which will operate as a standalone company called Atkore International. Atkore will obtain $465 million in third-party financing.

Morgan Stanley is suing private equity and investment firm Peak Ridge Capital, alleging the firm failed to cover more than $40 million in losses from its commodities hedge fund, Reuters reported. Morgan Stanly contends that suffered the losses due to bad bets Peak Ridge placed on natural gas, and that the firm did not maintain proper margin requirements. Peak Ridge and the fund in question – Peak Ridge Commodities Volatility Fund Series – are both operated by Boston-based private equity firm Avolte, Reuters reported.