Fundraising

In a deal that will yield a more than three times return, North Castle Partners has agreed to sell drug and alcohol treatment centre CRC Health Group. Bain Capital acquired the business in a roughly $720m deal.

Expanding its investment reach into less traditional emerging markets, the US-based Overseas Private Investment Corporation has committed to financing private investment funds targeting Africa. By Judy Kuan

Jeffrey Greenberg has rebounded following his departure from Marsh & McLennan, where he was chairman and CEO, and is reportedly set to launch a new private equity fund.

The buyout and mezzanine firm will bring its “one-stop shop” approach to the capital, investing from its €750m fund, which closed last week.

The oversubscribed fund closed on £330m with commitments from US, UK and European pension funds, insurance companies and family offices.

Survey results show Brazil’s private equity industry to have $5.5 billion in capital, exceeding previous estimates of the sector’s size. Judy Kuan investigates.

The latest incarnation of Sithe Global Power, a Blackstone investment, represents a shift in the electric energy opportunity, as distressed deals dry up and equity sponsors clamour for greenfield strategies.

After a busted auction, New York-based Arsenal Capital Partners has acquired a controlling stake in specialty chemicals maker Reilly Industries, agreeing to a deal worth $250m.

The Australian bank has launched a clean technology fund of funds focused on the North American market.

Markstone Capital Group has attracted investment from US and Israeli pension funds to invest in late-stage old economy companies in emerging markets.