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Fund News In Brief

Austin, Texas-based Blue Sage Capital has raised $150 million for its second fund, Blue Sage Capital II LP, coming in well above its $100 million target. Blue Sage Capital II will continue the firm’s strategy of investing in founder-owned businesses in Texas and the Southwest with $3 million to $10 million of cash flow, the firm said.

IndiaVenture Advisors, a private equity fund owned by Indian drug maker Piramal Enterprises, is planning to raise up to 10 billion rupees ($185 million) for a new fund that will invest in health care and education, its chairman said. Investors have stepped up ploughing money into the health care sector in India, home to more than 1.2 billion people, betting on steadier returns than in other businesses that have been hit by an economic slowdown, Reuters reported.

Kohlberg Kravis Roberts & Co. has finished raising $6 billion for its second pan-Asia fund, according to sources, the largest private equity pool ever assembled for the region, with strong demand from pension funds and endowments seeking emerging market returns, Reuters reported. KKR’s latest Asia fund, which follows a $4 billion regional fund it raised in 2007, is over-subscribed, the sources told Reuters, meaning demand exceeded the current total despite challenges facing investors putting money into the region’s slowing economy.

New York Life Capital Partners, a wholly owned investment boutique of New York Life that manages approximately $9 billion of private equity assets, including equity co-investment, mezzanine, fund of funds programs and separate accounts, announced that the firm has renamed itself GoldPoint Partners.

Global private markets manager Partners Group has closed Partners Group Secondary 2011 LP at its hard cap of €2 billion ($2.6 billion). The fund was oversubscribed and closed before the expiration of its fundraising period.

Platte River Equity has closed its third private equity investment fund, Platte River Equity III LP. Platte River launched fundraising in June with an initial target of $350 million and exceeded this target to close the fund at its hard cap of $405 million.