Firms & Funds

3i Group has closed its Indian infrastructure fund with $1.2 billion in capital commitments.

ABS Capital Partners is targeting $400 million for its sixth fund, according to a regulatory filing. The Baltimore-based firm had raised $300 million for its fifth fund in 2005.

Advent International has raised €1 billion for its fourth private equity fund focused on Central and Eastern Europe. It raised its first such vehicle in 1994, and has since backed 35 companies in Poland, the Czech and Slovak Republics, Hungary, Romania, Bulgaria and Turkey.

AIG Capital Partners has closed its second Brazilian special situations fund with $691.9 million in capital commitments. The vehicle also has flexibility to invest opportunistically in other Latin and South American countries like Mexico and Columbia.

Angelo Gordon & Co. is targeting $1.5 billion for its sixth distressed vehicle, according to LBO Wire. The firm closed its fifth fund in 2006 with $650 million.

Atlantic Street Capital has held a $35 million first close on its debut fund, with a commitment from Morgan Stanley Alternative Investment Partners. The total fund target is $70 million. The Stamford, Conn.-based firm focuses on lower middle-market special situation opportunities.

CapitalSource has agreed to acquire the retail banking operations of Fremont General, which includes 22 California locations and $5.6 billion in deposits.

Clearview Capital, a lower middle-market private equity firm based in Connecticut, has closed its debut fund with $250 million in capital commitments. Atlantic-Pacific Capital served as placement agent, while limited partners include Credit Suisse, RCP Advisors, Hartford Investment Management, Muller Monroe Asset Management, New York Life, National City Equity Partners, Portfolio Advisors, Equity Partners GmbH and 747 Capital.

CrawfordSpalding Group has launched as a professional advisory and management services firm focused on underperforming or distressed companies. Its founders are three former senior executives from Caremark: Mac Crawford, Bill Spalding and Drew Crawford.

Credit Agricole Private Equity has raised €600 million for a fund that will invest in the public-private partnership infrastructure sector. It already has invested a total of €80 million in a Vienna road project, Ireland’s Limerick tunnel and certain UK healthcare programs.

CVC Capital Partners has raised $4.1 billion for its third Asia-Pacific fund. It had raised around $1.98 billion for its second Asia-Pacific fund in 2005.

Dubai International Capital and First Eastern Investment Group have formed a $1 billion private equity fund that will invest in Chinese companies seeking growth opportunities in the UAE and the potential to float on Dubai securities markets.

Goldman Sachs is targeting $7.5 billion for its second infrastructure fund, according to LBO Wire. It closed its debut infrastructure fund in 2006 with $6.5 billion. Goldman itself has committed to invest the lesser of $750 million or 12.5 percent of total capital commitments.

Green Maritime Partners has formed as a private equity firm focused on environmentally-sustainable investments within the maritime and clean energy sectors. Average investments will be between $5 million and $20 million. GMP was co-founded by shipping magnat Peter Georgiopoulos, with fellow co-founder Chris Teryazos running operations. Teryazos was previously with Pegasus Capital Advisors.

HRJ Capital has raised $195 million for its first distressed opportunities fund-of-funds. The fund is already fully committed.

IndexAtlas has formed a $50 million private equity fund focused exclusively on businesses serving the art industry. The average investment will be between $3 million and $8 million.

Legend Capital has closed its fourth fund with $350 million in capital commitments. The Beijing-based firm focuses on early-stage VC and mid-market growth equity opportunities in China. Its typical investment size is between $5 million and $20 million.

Medu Capital, a South African private equity firm, has raised R850 million ($108m) for its second fund.

Mezzanine Management has closed its second Central and East European mezzanine fund (AMC II) with €261 million.

Partners Group, a Switzerland-based alternative assets manager, has opened an office in Luxembourg. It will be run by Jerry Ludig, who previously was with HSBC Securities.

Providence Equity Partners is raised the target of its “hung bridge” debt fund from $700 million to $1 billion, according to Dow Jones. A first close is expected within weeks.

TD Capital Private Equity has held a $215 million first close on its fourth fund-of-funds, according to VentureWire. The Toronto-based firm is targeting between $250 million and $350 million. It closed on $348 million for its third fund just last year.

The New York State Common Retirement Fund is committing $500 million to “green” investments over the next three years. The Fund currently has $40 million invested in private equity funds focused on clean tech and renewable energies, and another $440 million in commitments to funds that include cleantech as part of their investment strategies.

Thoma Bravo, a Chicago-based private equity firm focused on mid-market software opportunities, has held a $520 million first close on its ninth fund and has reduced the overall target from $1 billion to $800 million, according to LBO Wire.

Warburg Pincus has closed its tenth fund with $15 billion in capital commitments. The New York-based firm makes venture capital, growth equity and leveraged buyout investments out of the same general fund, which invests globally.