3i Group is forming an India Infrastructure Fund, with a target capitalization of $1 billion. Approximately half of the commitments will be solicited from third-party investors.
Advent International has opened an office in Kiev, Ukraine. It will be run by Tamas Nagy, an existing Advent principal who previously worked in Budapest. Natalie Polischuk also is joining the office as a principal, after previously having been a partner with Delta Private Equity Partners in Moscow.
The Carlyle Group has formed a team to focus on private equity investments in Central and Eastern Europe. It is led by new Warsaw-based managing director Ryszard Wojtkowski, who previously was managing partner with Enterprise Investors.
The Carlyle Group has agreed to add another $100 million to Carlyle Capital Corp. Ltd., an affiliated vehicle that went public in Amsterdam two months ago. It’s the second $100 million bailout for the fund in as many weeks, with the vehicle announcing that it has sold around $900 million in assets at an estimated loss of between $30 million and $40 million.
China has begun selling $79 billion in bonds to finance a state agency that will invest the country’s foreign currency reserves. The fund could end up managing between $200 billion and $400 billion, and already has made a $3 billion investment in The Blackstone Group.
Deutsche Bank has cut its final ties as a direct private equity investor, by spinning out its Australian unit DB Capital Partners. The newly independent firm, led by Peter Dowding and Albin Kurti, has been renamed Propel Investments.
Dewey Ballantine LLP and LeBoeuf, Lamb, Greene & MacRae LLP have agreed to merge, creating a combined law firm with more than 1,300 attorneys in 12 countries.
Goode Partners has closed its debut fund with $225 million in capital commitments. The New York-based firm focuses on the consumer sector and used Champlain Advisors as its fund placement agent.
GrowthWorks Manitoba has agreed to acquire the manager of ENSIS Growth Fund, a VC and private equity fund focused on Manitoba-based companies. No financial terms were disclosed.
Moelis & Co. has closed its debut fund with $1.8 billion in capital commitments, according to LBO Wire. The Los Angeles-based merchant bank firm was launched earlier this year by former UBS I-banking chief Ken Moelis, and will mostly participate in private equity club deals in order to avoid M&A client conflicts that could arise if it were to lead deals.
The New York State Teachers’ Retirement System (NYSTRS) has approved the following fund commitments: Up to $100 million for Kelso Investment Associates VIII, up to $75 million for KRG Capital Fund IV, up to €50 million for Industri Kapital 2007 and up to $75 million for Avenue Special Situations Fund V.
Silver Lake Partners has secured over $726 million for its debut middle-market fund, according to a regulatory filing. The fund is named Silver Lake Sumeru, and is being marketed with a $750 million target and $1 billion cap.
TPG Capital is nearing a final close of over $4 billion for its latest Asia fund, according to LBO Wire. The firm’s previous Asia fund was raised under the Newbridge brand, and closed on $1.5 billion in 2005. In other Asia fundraising news, Private Equity Insider reports that The Carlyle Group is coming to market later this year with a $3 billion Asia-focused vehicle.