Iris Dorbian
London-based Duke Street, a mid-market buyout shop, has restructured its sixth private equity fund into a hybrid funding model. Goldman Sachs is the lead investor in the restructuring of Duke Street Fund VI with support from Spanish advisory firm Arcano. Lazard is managing the process. Duke Street Fund VI raised 963 million euros in 2007.
First Read kicks off the morning with news that former President Obama praises the activism in his wake, big Brazilian firms will will face another record year of bankruptcies, and Iconix Brand Group is exploring a sale of its majority stake in Peanuts Worldwide LLC.
Diversis Capital has acquired Chicago-based ArrowStream, a supply chain solutions solutions provider for food chains and food service distributors. No financial terms were disclosed.
Solera Holdings Inc has closed its previously announced acquisition of Autodata, a provider of tech information and knowledge solutions for the automotive service, maintenance and repair sector. No financial terms were disclosed. Solera’s backers include Vista Equity Partners, Koch Industries and Goldman Sachs.
Dos Rios Partners has acquired Alaska-based Pathfinder Aviation, a provider of aviation services. No financial terms were disclosed for the transaction that was done in partnership with Chuck Constant and Pete Henrikson of Phoenix Aviation Group.
In Second Opinion, the Trump market rally hits a speed bump due to the travel ban, Dropbox claims $1 billion revenue run rate and Sears' stock loses 30 percent of its value in four days.
The Carlyle Group has hired Craig Farr, the former global head of capital markets at KKR, as a senior adviser for its global credit group. Farr's appointment became effective January 25, 2017.
Lightstone Generation LLC, a joint venture between Blackstone and ArcLight Capital Partners LLC, has acquired four power plants from American Electric Power. The price of the acquisition was about $2.1 billion. The sale includes Waterford Energy Center in Waterford, Ohio and Lawrenceburg Generating Station in Lawrenceburg, Indiana.
Capital Square 1031, a real estate investment firm, has acquired a Louisburg, North Carolina-based new medical office building, which has been leased to Fresenius Medical Care, a provider of dialysis products and services. No financial terms were disclosed.
New York City-based Fundamental Partners, a private equity firm that focuses on distressed and special situation opportunities within the municipal markets, has raised $512 million for its third fund, according to an SEC filing. The target is $750 million.