American Capital, Ltd. (NASDAQ: ACAS) announced today that it has closed on the formation of American Capital Equity III, LP, a new $1.1 billion private equity fund, and related acquisition of a portfolio of equity and equity-related investments from American Capital with an agreed upon value of approximately $640 million. Another $445 million will be used to fund new control equity and equity-related investments.
Kirkland & Ellis LLP represented American Capital. The team was led by private funds partners Bruce Ettelson, Michael Belsley, Jeffrey Kaplan and Sarah Kirson, and included investment management partner Scott Moehrke, tax partners Donald Rocap and Daniel Meehan, ERISA partner Laura Bader, corporate of counsel Warren Goodworth, ERISA of counsel LeighAnne Thompson, private funds associates David Stults and Jonathan McPike, and investment management associate Kevin Bettsteller.
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