Paul Singer’s Elliott Investment Management LP is in talks to raise more than $2bn to boost its leveraged-buyout efforts, according to people with knowledge of the matter.
The firm is in talks with institutional backers regarding the vehicle, known as a co-investment commitment fund, which it can draw on for its private equity wagers, said the people, asking not to be identified discussing the fundraising.
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An Elliott representative declined to comment.
Elliott’s private equity affiliate, known as Evergreen Coast Capital, has been involved in some of the year’s largest transactions. In March, it teamed up with Brookfield Asset Management Inc. and reached an agreement to take Nielsen Holdings Plc private. Earlier this year, it partnered with Vista Equity Partners for a leveraged buyout of Citrix Systems Inc., and last year it acquired educational-technology provider DreamBox Learning.
The private equity industry has continued to burgeon as institutional investors seek out diversified returns. Globally there were more than 2,300 private equity funds targeting a collective $757 billion as of October, according to data provider Preqin.
Source: Yahoo Finance
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