3i Group has raised €1.2 billion for a growth equity fund that will invest throughout Europe, Asia and North America. It includes around €400 million from third-party investors, and around €800 million from its own balance sheet. The firm also announced the fund’s first deal: The acquisition of a 20 percent stake in European fruit juice producer Refresco for €84 million.
Allegiance Capital, a Dallas-based mid-market investment bank, has opened a new office in Seattle. It will be led by new managing director Michael Sherry, who previously founded Sherry Capital Advisors.
Apax Foundation, a nonprofit arm of Apax Partners, has acquired a 20 percent stake in Finance in Motion GmbH, advisor to the world’s largest microfinance investment fund.
Babson Capital Management has formed an eight-person private equity and mezzanine debt group focused on the Asia-Pacific region. Most of its emphasis will be on mid-market companies located in Australia and New Zealand.
Broadpoint Gleacher Securities Group Inc. (Nasdaq: BPSG) plans to rename itself Gleacher & Company. It also will reincorporate in Delaware.
Carlyle Group has held a $1.1 billion final close on its first financial services fund. The fund, led by Olivier Sarkozy, has made three investments to date: Bank of N.T. Butterfield & Son Ltd., BankUnited and Boston Private Financial Holdings Inc. (Nasdaq: BPFH).
China Investment Corp. has cut the amount of new funding it is seeking from the government from $200 billion to $100 billion, according to local media reports.
Crystal Financial has launched as a new commercial finance company that will originate and underwrite secured term loans of up to $150 million. It has received an undisclosed amount of private equity funding from Soros Fund Management.
Greylock Partners’s founder and chairman emeritus, Henry McCance, has bought about 6 percent of The New York Times’s stake in New England Sports Ventures (parent company of the Boston Red Sox). NYT will continue to hold a 16.6 percent position.
HSBC has held a $580 million first close on its third infrastructure fund, which has a target capitalization of $1 billion.
Pacific Century Group has completed its acquisition of PineBridge Investments from AIG. PineBridge is a multi-strategy investment manager with $87.3 billion in assets, including private equity.
Wachovia Capital Partners has become independent from Wells Fargo, and has renamed itself Pamlico Capital. It will continue to manage legacy WCP portfolio companies, including unfunded commitments.