Apax Partners reportedly plans to open an office in Shanghai by year-end, and another in Beijing next year. These would be its first offices in China.
Asia Alternatives has closed its second Asian private equity fund-of-funds with $950 million in capital commitments. It had been targeting $850 million, after having closed its debt vehicle in May 2007 with $515 million. CP Eaton served as placement agent, while limited partners included California Institute of Technology, CalPERS, New York State Common Retirement Fund, OHIM Asia Investors, OMERS, Pennsylvania State Employees’ Retirement System, Warren Hellman and Arthur Rock.
The Blackstone Group and South Korea’s National Pension Service have each agreed to invest $2 billion into South Korea.
Brynwood Partners has secured $120 million in capital commitments for its sixth fund, according to a regulatory filing. It is targeting upwards of $400 million in total. The Greenwich, Conn.-based firm makes control investments in the lower middle-markets, and raised $250 million for its fifth fund, back in 2004.
The Carlyle Group reportedly has closed its second fund for small-cap and mid-cap buyouts of European technology companies, with €530 million in capital commitments.
China Construction Bank reportedly plans to raise around $730 million for a private equity fund focused on the Chinese healthcare sector.
CIC Partners has formed CIC Advantage Holdings, a new fund focused on growth capital opportunities in the multi-unit restaurant and retail concept spaces. It will be managed by former PepsiCo CEO Roger Enrico, former Blockbuster CEO John Antioco and CIC managing partner Mike Rawlings (former Pizza Hut president and current CEO of Legends Hospitality Management).
Fortress Investment Group and Quicken Loans Inc. have entered into an exclusive joint venture, to “help Fortress implement a comprehensive refinancing and loan modification strategy for its mortgage portfolio and investments.”
Herkules Capital, a Norwegian firm previously known as Ferd Private Equity, has closed its third fund with NOK 6 billion ($890 million) in capital commitments. Limited partners include Argentum, Ferd, Orkla, DnB NOR, Storebrand, Goldman Sachs and Indiana PERF.
Goodwin Procter LLP
is opening an office in Hong Kong, which will be its first outside of the U.S. It will be led by partners Yash Rana and Brian McDaniel, who represent VC and PE firms that are raising funds and investing in Asian companies.
KKR does not plan to publicly list on the NYSE until next year, according to a statement by its Amsterdam-listed affiliate.
Lehman Brothers Private Equity, an Amsterdam-listed vehicle, said its net asset value fell 6.7 percent for the first ten months of 2008, including a 3.2 percent drop in October.
TowerBrook Capital Partners has closed its third fund with $2.8 billion in capital commitments. It began fundraising late last year with a $2.5 billion target.
UBS AG has closed its debut infrastructure fund with more than $1.5 billion in capital commitments.
Vestar Capital Partners is planning to target $4 billion for its sixth buyout fund, according to LBO Wire. Its $3.7 billion fifth fund is 70 percent invested.
Vista Equity Partners has closed its third fund with $1.3 billion in capital commitments. The San Francisco-based firm focuses on mid-market opportunities in the enterprise software market.