Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

Private equity deals

April 23, 2013: 10:27 AM ET

The Blackstone Group has agreed to acquire Credit Suisse Strategic Partners, the bank's secondary private equity business with $9 billion in assets under management. No financial terms were disclosed. Strategic Partners has 26 secondary investment professionals, led by Stephen Can and Verdun Perry. www.blackstone.com

The Blackstone Group is in talks to acquire a stake in JetPrivilege, the frequent flier unit of India'sJet Airways, according to multiple press reports. www.blackstone.com

Carbon Black, a Sterling, Va.-based developer of a 'surveillance camera' for computers, has raised an undisclosed amount of private equity funding from The Blackstone Groupwww.carbonblack.com

International Paper Co. (NYSE: IP) is in talks to spin off and merge its distribution group withUnisource Worldwide Inc., a Norcross, Ga.-based portfolio company of Bain Capital, according to Reuters. www.unisourceworldwide.com

Trilantic Capital Partners and Riverstone Holdings have invested an undisclosed amount into Trail Ridge Energy Partners II, a newly-formed oil and gas exploration and production company focused primarily in the Permian Basin in West Texas. www.trilanticpartners.com

US LBM Holdings LLC
, a Green Bay, Wis.-based portfolio company of BlackEagle Partners, has acquired Shelly Enterprises Inc., a Telford, Penn.–based building materials supplier.www.shellyslumber.com

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About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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