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Fund News In Brief

Asia-focused buyout firm Affinity Equity Partners is seeking to raise as much as $3.5 billion in a new fund, Reuters reported, testing investor appetite for Asia funds at a time when a number of global players have already launched big funds. Affinity has hired London-based MVision to advise it on the fundraising, the sources who had direct knowledge of the plan told Reuters. It has started marketing the fund and scheduled a meeting with investors later this month, Reuters wrote.

AXA Private Equity has raised more than €1 billion ($1.31 billion) to invest into infrastructure projects, such as gas networks and wind farms across Europe, a person familiar with the fundraising told Reuters. The private equity arm of the French insurer AXA is looking to top this up to €1.5 billion for its third and largest infrastructure fund by tapping investors drawn to the sector by the promise of regular dividends and stable long-term returns of 10 percent to 12 percent.

BLG Capital has reached a final close on BLG Turkish Real Estate Fund LP with total commitments of €142.4 million ($186.1 million). The opportunistic fund is focused on hospitality, high end residential, student accommodation and mixed-use projects.

The Carlyle Group has raised at least $2.87 billion for its latest U.S. buyout fund, according to a regulatory filing. Carlyle Partners VI, Carlyle’s sixth flagship U.S. private equity fund, launched in January and has a target of $10 billion. Carlyle disclosed in the filing that its first sale of interests in the fund was completed on May 22.

New York-based Harvest Partners has closed its latest fund, Harvest Partners VI LP, with $1.1 billion in commitments. Like the firm’s previous funds, the latest vehicle will focus on North American companies across a wide range of sectors, including manufacturing and distribution, health care, midstream energy, and consumer products and retail. Harvest’s previous fund, Harvest Partners V LP, closed in 2007 at $816 million.

Iron Point Partners has raised $750 million with its latest fund. The pool, Iron Point Real Estate Partners II, had a $450 million target. Atlantic-Pacific Capital was the placement agent. Before forming Iron Point in 2007, firm principals managed RMB Realty and its successor Oak Hill Realty, the real estate investment vehicles for the Robert M. Bass family office. Iron Point has offices in Washington D.C. and Dallas.

Two more Asia-based private equity firms have joined the fundraising bandwagon, seeking a combined $4.25 billion, Reuters reported. North Asia-focused firm MBK Partners is planning to raise as much as $2.25 billion for its third pan-Asia buyout fund, while China’s CDH Investments is tapping investors for as much as $2 billion, Reuters wrote.

The Overseas Private Investment Corp., the U.S. government’s development finance institution, and Abraaj Capital, a private equity group investing in growth markets worldwide, have signed a $150 million commitment to the Riyada Enterprise Development Growth Capital Fund. The vehicle will invest in small and midsize entities in the Middle East and North Africa region, including Egypt. With a capitalization of $400 million, the fund is managed by Aureos Capital (the small and mid-cap investing platform of the Abraaj Group).

Polish investor Tar Heel Capital has reached a first and final close of its latest fund, THC 2, at €50 million ($64.5 million). Athos Partners acted as sole placement adviser to the fund.

TVC Capital, a software-focused private equity firm, has closed TVC Capital II, a $75 million growth equity and buyout fund. The firm is based in San Diego.