U.S. private equity firm Cerberus is hoping to replace Deutsche Bank Chairman Paul Achleitner, two sources confirmed to CNBC on Tuesday.

Chicago-based private equity investment firm has raised its sophomore fund, May River Capital Fund II.

Parthenon Investors VI, LP held its first and final closing with more than $2.0 billion in commitments, exceeding its initial fund target of $1.5 billion.

A pair of Midwestern pension plans have issued joint RFPs for investment advisory and investment consulting services.

Green Equity Investors VIII and Jade Equity Investors closed with committed capital of $12 billion and $2.75 billion, respectively.

North Carolina’s state pension plan is prepared to weather another recession, a Pew Charitable Trusts stress test says.