Firms & Funds

Aloe Private Equity is trying to raise up to $400 million over the next three years to develop coal bed methane resources in China.

Blackstreet Capital Management has held a $91 million first close for its second fund, which is targeting $125 million. The Bethesda, Md.-based firm focuses on turnarounds and distressed opportunities in the small and middle-markets.

The Carlyle Group has sued Neil Shen, a founding partner of Sequoia Capital China, for allegedly wrecking Carlyle’s planned investment in a Chinese medical research firm. Carlyle is seeking $206 million in damages. In other Sequoia Capital China news, Shen’s fellow co-founding partner, Zhang Fan, has left the firm.

The Carlyle Group is raising up to $75 million for its fourth Latin American real estate fund, according to a regulatory filing. It already has secured around $10 million.

China International Capital Corp. (CICC) and Shanghai International Group (SIG) are forming a private equity venture that would manage up to 20 billion yuan ($2.9 billion). Named Golden Partners Capital, the effort is expected to invest in financial institutions like fund management firms, brokerages and banks.

First Reserve, a Texas-based energy buyout firm, has delayed the closing for its twelfth fund until March, LBO Wire reported. The close, which was slated for January, has raised $9 billion. Its original target was $12 billion.

Henderson Group (LSE: HGGH) has agreed to acquire New Star Asset Management (LSE: NSAM).

Marathon Asset Management has secured over $805 million in commitments for a Special Opportunities Fund, according to a regulatory filing. The fund is open-ended, but expects to cap commitments at $1 billion.

Milestone Partners has closed its third fund with $230 million in capital commitments. It was targeting $200 million, and already has made four investments. The St. Davids, Pa.-based firm focuses on leveraged buyouts and recaps of lower middle-market companies.

Pinova Capital, a Munich-based private equity firm, has held a €50 million ($64.4 million) first close on its debut fund. Limited partners include Commerzbank and the European Investment Fund.

Quintana Capital Group is raising $650 million for its second fund, according to a regulatory filing. It already has secured over $180 million. The Houston, Texas-based firm makes control-oriented investments across the oil and gas, coal and power industries.

Resolution, a buyout firm listed in the United Kingdom, has skipped its quarterly dividend after posting a fourth quarter loss.

Seidler Equity Partners, a Marina Del Rey, Calif.-based private equity firm, is targeting $400 million for its fourth fund, according to LBO Wire.

TPG Capital has ended talks about selling an ownership stake in itself to third-party investors, according to The Financial Times. The discussions had spanned two years, but broke down over valuation.

TPH Partners LP, the private equity affiliate of energy-focused bank Tudor, Pickering, Holt & Co., is raising up to $250 million for a new fund, according to a regulatory filing. It already has secured over $50 million in capital commitments.

Vision Capital, a secondaries firm based in the United Kingdom, has closed its seventh fund with €680 million in capital commitments.

Z Capital Partners has held a $100 million first close on its debut fund, which is targeting a total of $500 million, peHUB has learned. The New York-based firm plans to make control investments in middle-market distressed companies, operational turnarounds and special situations. It’s run by Jim Zenni, former president and co-founder of Black Diamond Capital Management.