Castle Harlan has agreed to acquire a 50% stake in the business of private equity manager Australian Mezzanine Investments to make private equity buyout investments in Australia, New Zealand and areas of Asia. Terms of the transaction were not disclosed. The new company, to be known as Castle Harlan Australian Mezzanine Partners Pty. Ltd., and Castle Harlan each launched separate buyout funds that will raise a total of $300 million from their two firms and investors in their existing funds.
Investors in Castle Harlan funds include the $47.3 billion Bell Atlantic Master Trust, New York; the $12 billion American Airlines pension fund, Fort Worth, Texas; and the $52.6 billion IBM Retirement Fund, Stamford, Conn.