3i Group reportedly is planning to raise a £1 billion growth equity fund.
Adams Street Partners, the Chicago-based fund-of-funds and secondary fund manager is looking to raise at least four new funds in 2010. They are Adams Street Partnership Fund 2010 U.S. Fund LP (targeting $800 million); Adams Street Partnership Fund – 2010 U.S. Fund – Series B LP ($250 million); Adams Street Partnership Fund 2010 Non-U.S. Developed Markets Fund LP ($400 million); and Adams Street Partnership Fund 2010 Non-U.S. Emerging Markets Fund ($200 million).
Carnegie Investment Bank, a Stockholm-based portfolio company of Altor Equity Partners and Bure Equity, said that it will spin off its asset management operations into an independent company. Altor and Bure would be the new company’s “main owners.”
Carlyle Group has signed a memorandum of understanding with China to launch a yuan-denominated fund in Beijing.
Clayton, Dubilier & Rice has closed its eighth fund with $5 billion in capital commitments. It had originally begun marketing with a $7.5 billion target, after having raised $4 billion for its seventh fund in 2006.
Global Environment Fund and India’s Yes Bank are raising a $200 million private equity fund to invest in cleantech companies, according to the Financial Chronicle. The two groups previously planned to raise up to $500 million, but scaled back those designs. A final close is expected later this month, with LPs to include the International Monetary Fund (IMF) and the Asian Development Bank.
Greyrock Capital Group has closed its second mezzanine and junior capital fund with $122 million in capital commitments.
Harbert Private Equity, a fund managed by Alabama-based Harbert Management Corporation, is targeting $200 million for its third fund. The firm has gathered $9.7 million in commitments from 6 investors. It will use the capital to invest in companies with an enterprise values between $10 million and $100 million.
KKR Financial (NYSE: KFN) said it plans to sell $125 million worth of six-year convertible notes. Proceeds would be used for working capital and to repurchase or repay a portion of existing senior debt.
Littlejohn & Co. has held a second close on its fourth fund with $616.5 million in commitments. The firm is using Park Hill as a placement agent. The fund has a target figure of about $1.3 billion, according to a regulatory filing. If that figure is reached, Fund IV would be a significant jump for Littlejohn & Co., which is coming off of an $850 million third fund.
Oaktree Capital has raised $425.8 million from 39 investors to invest in mortgage-backed securities through the government’s PPIP plan. The total capitalization likely includes capital raised for a parallel offshore fund called Oaktree PPIP Private Fund (Cayman) LP, which accumulated $181 million in commitments, according to a separate SEC filing.
Onex Corp. said that it will increase its contribution to private equity fund Onex Partners III, from $500 million to $800 million. This brings the total fund size to $4.3 billion.
Pacific Lake Partners has $24.7 million in commitments from 23 investors for Pacific Lake Partners Fund One LP. The fund will back entrepreneurs in a new strategy designed to invest in turnaround situations for startups. The fund has a $35 million goal.
Parish Capital has held first closes on two new funds-of-funds: Parish Capital III, a North American fund with a $450 million target; and Parish Europe II, a Europe-focused fund with a €250 million target. The firm announced the closings last month, but without disclosing how much had been raised. According to regulatory filings, Parish Capital III has secured $73 million and Parish Europe II has secured $73 million. The filings also indicate that the North American fund has a $600 million cap, and the European fund has a cap of approximately $502 million.
Peninsula Capital Partners, a Detroit-based private equity firm which invests in subordinated debt and structured equity, has raised $369 million from 33 investors for its fifth fund. The firm has the ability to raise up to $425 million in commitments, according to a regulatory filing. Peninsula’s prior fund had $335 million in commitments.
Persistence Capital Partners, a Canadian private equity firm focused on the health care services sector, has held a second close on more than C$65 million for its debut fund.
Riverside Partners, a health care-focused buyout firm based in Boston, has closed its fourth fund, Riverside Fund IV, with $406 million in commitments, topping its initial target of $250 million. The firm’s prior fund, a 2005 vintage, had $225 million in commitments.
The San Francisco Employees’ Retirement System (SFERS) has named Donald Holcher as managing director of alternative investments and real estate. It is a new position. He previously had spent 10 years as a real estate investment officer with SFERS.