3Com Corp. has sued Bain Capital for a $66 million termination fee related to the firm’s failed $2.2 billion buyout effort. 3Com alleges that Bain’s reasons for pulling out of the deal were invalid, thus activating the termination fee.
Accretive Exit Capital Partners has acquired “meaningful minority positions” in five companies from Evercore Capital Partners II. The deal was valued at $110 million.
Ampersand Ventures has begun marketing its new fund with a $400 million target, according to LBO Wire. The Wellesley, Mass.-based firm focuses on middle-market private equity opportunities in the healthcare and industrial sectors. Its current fund raised $212 million in 2006.
The Blackstone Group is opening an office in Beijing. It will be led by Shan Fu, who previously was vice president of Beijing Mainstreets Investment Group. Before that, Fu worked in several Chinese government agencies, including the National Development and Reform Commission.
The Carlyle Group announced plans to liquidate Carlyle-Blue Wave Partners, a hedge fund it launched in April 2007.
Evergreen Pacific Partners, a Seattle-based private equity firm focused on the middle-markets, has closed its second fund with $425 million in capital commitments. Limited partners include the Washington State Investment Board, the Public School Employee Retirement System of Pennsylvania, Credit Suisse and the Guardian Life Insurance Co. of America.
First Reserve has secured more than $4.5 billion in capital commitments for its twelfth fund, according to a July 30 regulatory filing. It is targeting $12 billion, with a $16 billion hard cap. The Greenwich, Conn.-based firm focuses on private equity opportunities in the energy sector.
KCP Capital, a new cross-border merchant bank, has been formed via the merger of three firms: KIT Capital, a special situations merchant bank; MNA Partners, a boutique corporate finance firm focused on the MENA region; and River Road Ventures, a U.S.-based early-stage investment firm.
Lombard Odier Darier Hentsch has held a €300 million first close on its fourth fund, which will focus on lower-middle-market private equity opportunities in Europe. The final target is €600 million.
N+1, a Spanish alternative asset manager, has acquired a 35 percent stake in Access Capital Partners, a mid-market buyout shop primarily owned by Capman. The deal was valued at €18 million.
Nokia Growth Partners has received a new $150 million capital infusion from parent company Nokia, which swells its funds under management to $250 million. The new capital will be used, in part, to help the group launch ground operations in China and India.
Norvesor Equity AS, a Norwegian private equity firm focused on the middle-markets, has closed its fifth fund with €236 million in capital commitments.
Primus Capital Partners has closed its sixth fund with $275 million in capital commitments. The Cleveland-based firm focuses on the healthcare, business services and education industry sectors.
Royal Bank of Scotland reported a first-half loss of £691 million, following a £5.9 billion write-down.
Taft Stettinius & Hollister LLP is merging with Cleveland law firm Kahn Kleinman LPA. Kahn Kleinman will become part of Taft, effective September 1.
Vista Equity Partners, a San Francisco-based buyout firm, is raising up to $1.4 billion for its third fund, according to a regulatory filing. Both Park Hill Group and Diamond Edge Capital Partners are serving as placement agents.