Northleaf Capital raises US$4B; Fortress to pay ¥400B for MBK's Accordia Golf

TOP NEWS IN PRIVATE EQUITY

* Northleaf Capital Partners Ltd. said it raised US$4 billion in commitments over the past 12 months for its three core private markets investment programs. Funds raised for Northleaf's private equity, private credit and infrastructure vehicles bring the firm's total capital raised to date to more than US$18 billion.

* SoftBank-backed Fortress Investment Group LLC agreed to pay private equity group MBK Partners KK an enterprise value of ¥400 billion for Japanese golf course company Accordia Golf Co. Ltd., London's Financial Times reported Nov. 17, citing a person close to the deal.

➤ Trillion-dollar M&A run continues

M&A activity continued its unprecedented run, with the total value of transaction announcements topping $1 trillion for the fourth straight quarter.

➤ Bond investors unfazed, so far, by alarming inflation numbers

Consumer price index hits highest point since 1990, but long-term bond yields fall.

DEALS

* Swiss private equity firm Partners Group Holding AG, on behalf of its clients, agreed to buy heating, ventilation and air-conditioning parts and accessories supplier DiversiTech Corp. from funds advised by Permira Advisers Ltd. The deal gives the target company an enterprise value of US$2.2 billion.

* The Carlyle Group Inc. terminated talks for a potential offer for London-based Metro Bank PLC, Dow Jones Newswires reported. The private equity firm filed in early November a proposal to buy the lender.

* IK Partners' Klingel Medical Metal GmbH agreed to buy medical devices manufacturer Ruetschi Technology Holding AG. The terms of the transaction were not disclosed.

* Affiliates of The Jordan Co. LP's The Resolute Fund V LP completed an undisclosed amount of investment in pharma services company Wep Group Holdings Ltd. Wep Co-Founders Jaswinder Khera and Jaswant Khera will continue to be significant owners in the business.

FUNDRAISING

* Sydney-based Allegro Funds Pty. Ltd. raised approximately A$600 million at the first close of its Fund IV. The firm raised roughly A$500 million for the core fund and A$100 million for the sidecar facility.

* Interface technologies company Ultraleap Ltd. raised £60 million in a series D funding round. New investors Tencent Holdings Ltd., British Patient Capital Ltd.'s Future Fund: Breakthrough and CMB International Capital Holdings Corp. Ltd. participated in the round alongside existing investors Mayfair Equity Partners LLP and IP Group PLC.

VENTURE CAPITAL

* Digital employment platform for nurses Trusted Inc. raised $149 million in series B and series C funding rounds, Dow Jones Newswires reported. Greenspring Associates Inc. led the $94 million series C round, while Craft Ventures LLC and Felicis Ventures Management Co. LLC led the previously unannounced $55 million series B funding round, according to the report.

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