Matt Levin

The arcade and dining franchise will use the fresh capital to pay down debt, roughly two years after Wellspring purchased the company in a $375m take-private. Wellspring will retain a controlling interest in the company.

The long-time KKR loyalist will be the first public pension to invest in a “dedicated separate account” managed by KKR Fixed Income. The commitment dwarfs previous Oregon commitments to KKR’s buyout funds.

The project, one of Blackstone’s first investments in renewables, would construct roughly 80 wind farms off the German island of Helgoland, according to media reports.

The state’s legislature has increased the Florida State Board of Administration’s allowable allocation to private equity and venture capital from 5 percent to 10 percent. The pension fund is also launching an infrastructure platform.

The corporate debt and real estate specialist has acquired CIT Group’s troubled Home Lending business, Lone Star’s third mortgage-related deal since October.

Respondents to a recent survey also said sovereign funds’ long-term strategy makes them more appealing than other LPs.

The $82bn Washington State Investment Board, known for its bullish stance on alternatives, had a minus two percent first quarter return on its private equity portfolio, while real estate underperformed against its benchmark. Executive Director Joseph Dear says ‘we’re in this asset class to stay’.

The bill, which would more than double federal taxes on carried interest, faces an uphill battle in the Senate.

The mega-buyout firm has revealed its private equity real estate business returned $1.3 billion to investors last year from 38 exits.

Apria Healthcare Group, which has 550 branches, has also secured a $280m credit facility in conjunction with the take-private, a positive sign for for the leveraged buyout world as healthcare continues to be a favored target.