Firms & Funds

AIG Capital Partners is raising up to €500 million for its second New Europe Fund, according to a regulatory filing.

CalPERS has committed $500 million to Sacramento Equity Partners, a new fund-of-funds focused on venture capital and small/middle-market private equity funds. SEP will be managed by Oak Hill Investment Management. CalPERS also said that it has made a $500 million commitment to the KKR 2006 Fund, which is expected to close on $15.5 billion.

CapitalSource has formed a Canadian subsidiary to provide financing for Canada-based middle-market companies.

Duff & Phelps has acquired Chanin Capital Partners, a specialty I-bank specializing in distressed situations. No financial terms were disclosed.

Fortress Investment Group, a New York-based alternative asset manager, has filed for a $750 million IPO. Fortress manages private equity funds, hedge funds and publicly-traded alternative vehicles.

Frontenac Company of Chicago is raising up to $450 million for its ninth private equity fund, according to a regulatory filing.

Fulbright & Jaworski LLP is opening an office in Beijing, which will focus on cross-border transactional work, plus energy, project finance and dispute practices involving China.

HitecVision Private Equity

, a firm focused on oil and gas opportunities in Europe and North America, is opening a U.K. office in Aberdeen. It will be run by Mike Hill, a former director of 3i Group’s oil and gas team.

Innova Capital, a Poland-based private equity firm focused on mid-market European buyouts, has closed its fourth fund with €225 million in capital commitments. Axon Partners served as exclusive placement agent.

Jade Alternative Investment Advisors of Dubai reportedly is raising a $150 million fund-of-funds focused on VC and private equity vehicles in China.

Keefe, Bruyette & Woods, a New York-based I-bank, priced a $163.2 million IPO.

Magnum Industrial Partners of Spain reportedly is targeting €850 million for its inaugural fund.

Merrill Lynch Private Equity is the latest private equity firm known to have received a request for information from the U.S. Department of Justice, according to The Wall Street Journal. The inquiry is believed to be about possible anti-competitive behavior.

NBK Capital, a subsidiary of the National Bank of Kuwait, has held a $200 million first close on its inaugural private equity fund. The vehicle is targeting a total of $300 million, and will focus on companies looking for expansion or restructuring capital in the Gulf Cooperation Counsel, Levant, Egypt, and Turkey.

North Castle Partners of Greenwich, Conn. is raising up to $300 million for its fourth fund, according to a regulatory filing. It already has secured $63.8 million in commitments, with Merrill Lynch serving as placement agent.

Palm Beach Capital has closed its second buyout fund with $110 million in capital commitments. The Palm Beach, Fla.-based firm focuses on private companies with earnings of between $2 million and $15 million. It already has made four deals out of the fund, totaling around 25% of the committed capital.