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Fund News In Brief

Pan-emerging markets private equity firm Actis has closed its second African real estate fund, Actis Africa Real Estate 2, with total commitments of $278 million. The fund will focus on retail and office developments in eastarn, western and southern Africa, excluding South Africa.

The Bascom Group, the Irvine, Calif.-based private equity firm, has closed a $185 million real estate investment fund, which has already been used to acquire numerous properties, including in Fullerton, Calif; Denver; and Coldwater Springs outside of Phoenix.

The Blackstone Group said it had raised up to $960 million for its third publicly listed mutual fund to invest in corporate credit whose quality is below investment grade. The new fund, dubbed Blackstone/GSO Strategic Credit Fund, raised $834.8 million in an initial public offering, or $960 million assuming the full exercise of the underwriters’ overallotment option, which is not certain.

The Carlyle Group has closed a $615 million collateralized loan obligation fund, Carlyle Global Market Strategies CLO 2012-3. The fund will invest in corporate leveraged loans and high yield bonds. Carlyle’s previous new-issue CLO fund closed in June, at $510 million. The firm also closed a $510 million new issue CLO in March.

Crosslink Capital said it raised $320 million for its latest fund. Crossover Fund VI will be actively invested through April 30, 2018, and 6 percent of total funding has been committed by Crosslink’s general partners and employees. Crosslink, of San Francisco, is a venture capital and growth equity firm with more than $1.8 billion in assets. Investments include Pandora, and Omniture.

Global Infrastructure Partners has closed its its second fund, GIP II, with $8.25 billion in commitments. The firm focuses on infrastructure deals in the energy, transport and water sectors. The firm’s current portfolio includes Gatwick, London City and Edinburgh airports in the UK and the Port of Brisbane in Australia.

Iron Point Real Estate Partners II has closed with $750 million of capital commitments, placement agent Atlantic-Pacific Capital announced. The fund, managed by Iron Point Partners, had an initial target of $450 million.

The Lionstone Group said it has collected about $100 million for its Lionstone U.S. Land Two fund. Lionstone, of Houston, is a private real estate investment firm that plans to raise about $250 million for the pool. A final close is expected in November.

Roark Capital Group has closed its third private equity fund, Roark Capital Partners III LP, with $1.5 billion in commitments. The firm is based in Atlanta. Roark’s prior fund, Roark Capital Partners II L.P., closed in 2008 with $1 billion.

Trivest Partners collected $415 million for its latest fund. Trivest Fund V came in above its original target of $325 million and accepted commitments up to its $400 million cap. The additional $15 million came from Trivest’s partners. Shannon Advisors acted as placement agent while Greenberg Traurig provided legal advice.