ABRY Partners is raising up to $1.35 billion for its sixth fund, according to a regulatory filing. It already has secured nearly $700 million in commitments. ABRY is a Boston-based private equity firm focused on the media sector.
Baring Private Equity Partners is targeting $450 million for its third India-focused fund, according to a regulatory filing. It already has secured $210.5 million, and has set a $550 million maximum cap.
Bunker Hill Capital Partners is targeting $250 million for its second fund, according to a regulatory filing. The Boston-based firm focuses on buyouts of lower-middle-market companies. It already has closed on around $110 million, from limited partners like Hartford Life Insurance Co., Northwestern Mutual Life Insurance Co. and fund-of-funds manager White Rose.
Cambridge Associates has launched a Mission Investing Group for its clients, which will focus on such areas as community development and climate change. It is being advised by members of the “2% for Mission Campaign,” which encourages foundations to invest at least2% of their assets – above and beyond the charitable distributions – in mission-related investments.
The Canada Pension Plan Investment Board and Teachers’ Private Capital have agreed to each invest $200 million in FountainVest, a new private equity fund focused on China.
Electra Partners, a UK buyout firm, has separated from its asset management arm, according to LBO Wire. The asset management group will now be renamed Acuity Capital, and focus on listed venture capital trusts. Electra holds a 20% ownership stake in Acuity, and the two operations will continue to work out of the same building.
First Nations Capital Partners has been formed as a $25 million private equity fund by Wells Fargo Community Development Corp., the Colusa Indian Tribe and the Rincon Indian Tribe. It is the first U.S. private equity fund with tribal governments as its primary investors, owners and managers.
Mainsail Partners has raised $110 million for its second fund, according to a regulatory filing. The San Francisco-based firm focuses on growth equity, recap and management buyout opportunities. Its debut fund closed in 2005 with around $30 million.
Mubadala Development Co., a sovereign wealth fund of Abu Dhabi, is considering an increase of its ownership stake in the Carlyle Group. Reuters reports that Mubadala, which bought a 7.5% stake in Carlyle for $1.35 billion last September, is looking to up its interest “slightly” as it plans further acquisitions in aerospace, energy and real estate. Carlyle declined comment, and may have little interest in permitting such a sale. The firm has come under fire for its original sale to Mubadala, including by a California state legislator who has offered a bill that would block state pension funds from investing in firms partially owned by sovereign wealth funds of governments with poor human rights records.
Platte River Ventures is raising its second fund with a $300 million hard cap, according to a regulatory filing. The Denver-based firm focuses on small-market buyouts, and closed its debut fund in 2006 with $75 million.
The Riverside Company is targeting $900 million for its latest buyout fund, according to Private Equity Insider. It also has raised its fee structure from a 2% management fee and 20% carry to a 2.5% management fee and a 25% carry.
Stone Arch Capital is targeting $200 million for its second fund, according to LBO Wire. The Minneapolis-based buyout firm is focused on lower-middle-market opportunities in the Midwest. Its debut fund closed in early 2006 on just under $100 million.
TLcom Capital, a London-based venture capital firm, has held a first close for its second fund, in excess of €50 million. The fund target is €150 million, and follows a €138 million debut fund that closed in late 2000. Limited partners include Access Capital Partners, European Investment Fund, IDeA Alternative Investments and Finlombarda Gestioni SGR.
Wind Point Partners, a Southfield, Mich.-based middle-market buyout firm, is targeting $1 billion for its seventh fund, according to a regulatory filing. Wind Point closed its sixth fund in 2005 with $700 million.