Apax Partners has closed its latest private equity fund with E4.3 billion. It had been targeting E4 billion, with a E4.5 billion cap.
Banca Popolare di Milano has agreed to merge its BPM Private Equity SGR unit with Wise Venture SGR, and retain a 20% stake in the combined firm.
Butler Capital Partners has held a E320 million final close on its France Private Equity III fund, which will target control positions in companies with enterprise values of between EUR 50 million euros and EUR 300 million.
The Carlyle Group has opened its third office in China. This one is in Beijing, and features four investment professionals – two focused on growth capital, one focused on buyouts and one focused on real estate.
Euroventures has closed its Euroventures Hungary III fund with EUR 51 million. It plans to invest in both growth capital and buyout deals for businesses in Hungary and other Central European counties. Limited partners include ABN AMRO Capital, the European Bank for Reconstruction and Development, Lombard Odier Darier Hentsch & Cie and a Hungarian pension fund managed by Credit Suisse Life & Pensions.
Insight Equity of Southlake, Texas has closed its first leveraged buyout fund, with $250 million in limited partner commitments. Once general partner capital and partner co-investments are included, the firm will have in excess of $300 million in available capital. It plans to focus on middle-market companies that are underperforming due to operational problems, with a particular focus on companies with considerable manufacturing or distribution activities.
Macquarie Bank Group has closed its Macquarie European Infrastructure Fund with E1.5 billion, from limited partners like Pension Fund KBC, Suez-Tractabel Pension Fund, Northwestern Mutual, Canada Pension Plan Investment Board, Germany’s HSH Nordbank, ABP, British Airways Pension Fund, Oslo Pensjonsforsikring, Generali of Italy and CDP. The fund already has begun to back various infrastructure assets, including transport assets, electricity and gas transmission and distribution networks, water and sewerage companies, communications infrastructure and renewable energy assets.
MDC Acquisition Partners Inc., a Menlo Park, Calif.-based blank check acquisition company focused on the consumer and business services industries, has filed to raise $80 million via an IPO, with Wedbush Morgan Securities serving as lead underwriter. Much of MDC’s management team shares a common background and history with private equity firm McCown De Leeuw. This includes MDC Chairman and CEO Robert Hellman (managing director and CEO of McCown De Leeuw), MDC Director Matthew Carbone (managing director with McCown) and MDC Management Council Chairman George McCown (co-founder and managing director of McCown).
Compiled by Dan Primack