Firms and Funds

Alpine Investors, a San Francisco-based private equity firm, is marketing its fourth fund, sources familiar with the situation said. The effort has a $175 million target with a $205 million hard cap, a slight jump over Alpine’s last fund. Alpine Investors III closed in March 2007 with $125 million in commitments. The firm is not using a placement agent and expects to hold a first close on November 1, one source said.

Brazos Private Equity Partners has closed its third fund with more than $700 million in capital commitments. The Dallas-based firm focuses on middle-market companies with enterprise values of between $50 million and $400 million.

American Capital Ltd. has opened an office in Hong Kong, which is its first satellite in Asia. The office will be led by David Steinglass, who has been with American Capital for the past eleven years.

WASHINGTON (Reuters) – The FBI is investigating Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz), Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz), Lehman Brothers Holdings Inc (LEHMQ.PK: Quote, Profile, Research, Stock Buzz) and insurer American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz) and their senior executives for potential mortgage fraud, CNN reported […]

HONG KONG (Reuters) – Warren Buffett’s $5 billion investment in Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) brought good news to global markets worried that architects of a $700 billion bailout plan would not be able to convince U.S. lawmakers to move swiftly. Sumitomo Mitsui Financial Group (8316.T: Quote, Profile, Research, Stock Buzz) also […]

(Reuters) – American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz) may need to sell more than half of its businesses and the most coveted of its properties could be its international life businesses and the domestic retirement unit, Credit Suisse’s global insurance analysts said in a report. The combined saleable value for AIG […]

Sterling Partners of Northbrook, Ill., and Baltimore is raising a $500 million co-invest fund, a source familiar with the situation said. The new fund will supplement Sterling’s $1 billion fifth fund, called SCP III. That pool of capital closed in June 2007. The firm originally planned to raise a side fund to SCP III, but scrapped it in favor of the co-investment fund, the source said. The reason is simple: Sterling Investment Partners wants to do deals faster.

PHILADELPHIA (Reuters) – Private equity firm Kohlberg Kravis Roberts & Co. said it posted a total investment loss of $1.1 billion in the first half of the year, compared with a year-ago profit. KKR, which in July set plans to become publicly traded company by buying an affiliated fund, said the rocky financial markets and […]

BOSTON (Reuters) – Asset manager Legg Mason Inc (LM.N: Quote, Profile, Research, Stock Buzz) said on Monday it was not looking to go private, denying a report in The New York Post. Legg said in a statement its current business strategy has not changed. The Post had cited sources as saying Legg had been weighing […]

Continuing my coverage of ridiculous press releases, today’s email reveals one that may top “Mekong Capital Overcomes Exhaustion!” The pitch is titled “No Country For Old Men. Mature Male Executives Taking Extreme Measures to Keep their Jobs,” courtesy of 5WPR. Ignoring the hint of “manufactured trend,” it seems innocent enough, right? Not really. I read on to learn, to my horror, that the pitch is really suggesting I cover the “story” of middle-aged executives getting Botox and hair transplants to keep their jobs. To quote directly from the grammatical nightmare of a pitch,