Suzanne Weinstock

Private equity now makes up 11 percent of the Canadian pension’s capital under management, which has grown to nearly $128bn. The CPPIB has narrowly bucked the loss-making trend among North American pension funds, recording a 1 percent total return on investments in the three months ended in June.

Gary Stein has moved over to the Leon Black-led alternative asset manager to enhance the firm’s visibility ahead of an expected $418m float on the NYSE.

Fresh off the close of its $7.5bn sixth buyout fund, the distressed-focused private equity firm will buy the CDOs from Merrill Lynch for $6.7bn. The investment bank will finance 75 percent of the purchase price.

The public pension looks to alternatives to drive returns, ploughing $825m into private equity, real estate and hedge funds.

In a move to expand its offerings, the mega-buyout firm has hired TCW Group president William Sonneborn to develop traditional asset management lines such as public equity funds.

The New York Common Retirement Fund, the third largest in the US, has made public recent commitments to CVC Capital Partners’s recently closed mega-fund and Leichtman Capital Partners mid-market fund, which is targeting $1bn.

The Seoul High Court has reversed a lower court's decision that convicted the US private equity firm of manipulating the stock price of the credit card division of the Korea Exchange Bank; the decision brings Lone Star one step closer to a $6.3bn sale of its stake to HSBC.

The global private equity firm has partnered with two medical technology executives to target acquisitions in the healthcare sector.

PIK structures, frequently found in LBO-related debt offerings and currently being exercised by firms including KKR, Bain and Permira, may be staving off inevitable default to the detriment of debt-holders, according to Standard & Poor’s.

Investment bank Barclays Capital has provided a ‘substantial’ anchor commitment for the credit-oriented vehicle which will focus on the North American primary issue market.