Firms and Funds

Ares Capital Corp. plans to raise around $250 million for a debt fund that would invest in newly-originated and secondary senior secured debt.

Bank of China’s investment banking arm plans to form a private equity fund, focused on the domestic media industry.

BlackRock Inc. is looking to raise $500 million for its second TALF fund, according to, the sister Web site of Buyouts. TALF is an acronym for the U.S. government’s Term Asset-Backed Securities Loan Facility program, which is designed to provide private investors with loans to buy up newly-issued, triple-A rated asset-backed securities. The firm raised more than $200 million for its first TALF fund in March and April.

CapitalSpring LLC is raising a $200 million fund that would provide equity to prospective U.S. franchisees of established brands, according to LBO Wire.

The Carlyle Group has closed its fourth Asian growth capital fund with $1.04 billion in capital commitments.

CDC Group has committed $50 million to African Capital Alliance‘s third private equity fund, which will make control and non-control investments into mid-sized companies in Nigeria and other West African and Gulf of Guinea nations.

Extended Stay received bankruptcy court approval to access $86 million in cash, in order to make mortgage payments and to pay the company managing its hotels. The Spartanburg, S.C.-based chain is a portfolio company of Lightstone Holdings.

First Data Corp. and Bank of America announced a joint venture to offer electronic payment serves to merchants. First Data is a portfolio company of Kohlberg Kravis Roberts & Co.Greentech Capital Advisors has launched as an investment bank focused on the alternative energy and cleantech sectors. Its founder is Jeff McDermott, former joint global head of I-banking at UBS.

Kayne Anderson Capital Advisors has closed its fifth energy private equity fund with $820 million in capital commitments.

Multiples, an India-based private equity firm founded by former ICICI Venture chief Renuka Ramnath, is raising $500 million for its debut fund, according to the Economic Times. The fund already has between $150 million and $200 million in LP commitments.

Pomona Capital has closed its seventh private equity secondaries fund with $1.3 billion in capital commitments.

Singer Partners has launched as a new investment management firm. Its founder is Brian Singer, who previously oversaw the $200 billion global asset management multi-asset practice for UBS. Executives include chief compliance officer and general counsel Michael Jacobs, who previously was with Adams Street Partners.