Hicks, Muse, Tate & Furst Inc. announced that it has adopted a new name, HM Capital Partners LLC (“HM Capital”). Muse, along with Thomas O. Hicks, formed Hicks, Muse & Co. in 1989. The firm’s name was changed to Hicks, Muse, Tate & Furst in 1994 to reflect the roles of Charles Tate and Jack Furst. Tate retired from the firm in June 2002 and Hicks in January 2005.
Advent International has opened a new office in Amsterdam. It will be led by Teartse Schaper, a principal who will relocate from London, and supported by Advent managing director John Singer, who will remain in London.
BBVA and Vega have formed Proxima, a global alternative investment company with $3 billion in assets under management.
Brazil has approved an exemption of the 15% capital gains tax for venture capital investments. It also exempted IPO investments from a 0.38% financial transactions tax and exempted foreign investors from capital gains and transaction taxes on purchases of government bonds.
Carousel Capital Partners of Charlotte, N.C. is looking to raise up to $300 million for its third fund, according to a regulatory filing. It already has secured around $52.5 million in commitments.
Eqvitec Partners of Finland has secured e130 million for its third fund focused on growth-stage Nordic tech companies. It already has hit its target, but may still accept additional commitments.
European Capital has obtained commitments for a ?400 million multi-currency revolving credit facility, from affiliates of Wachovia Bank and Harris Nesbitt Corp.
Goodwin Procter is planning to open a San Francisco office later this year. The Boston-based law firm has not yet decided on who will staff the office, or if it also will open satellites in Los Angeles and/or Silicon Valley.
GTCR Golder Rauner plans to launch a $2 billion fund-raising drive next quarter, according to comments GTCR principal Ned Jannotta made to The Chicago Tribune. Its current fund, GTCR VIII, closed in 2003 on $1.85 billion.
HEI Hospitality of Norwalk, Conn. has closed on a $425 million discretionary private equity fund that will acquire hotel-related assets. Its previous fund was capped at $275 million.
KD Group, a Slovenia-based asset management company, has launched a $70 million private equity fund focused on Southeastern European countries like the former Yugoslavia, Romania and Bulgaria. KD Group has committed $15 million to the fund, with the remainder filled by third-party backers.
KKR BDC, the business development company once planned by Kohlberg Kravis Roberts & Co., formally withdrew registration papers for a proposed $750 million IPO. The move had been expected for well over a year, as KKR instead opted to raise an REIT.
Kohlberg Kravis Roberts & Co. is launching a hedge fund called KKR Strategic Capital. It will be managed by the same unit that oversees the KKR Financial Corp. REIT.
Norsk Vekst Equity Partners has changed its name to Norvestor Equity AS. The Oslo-based private equity shop also announced the opening of a new office in Stockholm.
Wexford Partners of Greenwich, Conn. has raised $300 million in capital commitments for its ninth fund, according to a regulatory filing.