Buyout firm Axiom Asia has raised more than $1 billion for its third Asia fund, Reuters reported. Axiom, formed in 2007 by former executives of Singapore’s sovereign wealth fund, GIC, mainly invests in private equity funds, but also specializes in secondary private equity deals. The firm’s debut fund of $440 million closed in 2007, while the firm raised $950 million for its second fund in 2010, Reuters wrote.
Cinven Ltd has raised €3 billion ($3.9 billion) towards its latest buyout fund, Reuters reported. The European firm, which counts Pizza Express group Gondola and hospitals operator Spire Healthcare among its investments, is targeting about €5 billion for the fund, its fifth.
Lower mid-market firm The Comvest Group has closed its second private equity debt fund, Comvest Capital II, at $250 million. Commitments come from a diverse group of institutional investors and high net worth investors, including U.S. and European global private equity investors.
The Gores Group said its fourth buyout fund has raised $300 million. Gores Small Capitalization Partners LP will target lower mid-market businesses. Gores Capital Partners III LP will co-invest $100 million alongside the fund.
Greenpark Capital has launched a $500 million global fund to invest in private equity secondary markets, with a $100 million cornerstone investment from International Financing Corp, the finance arm of the World Bank, according to sources familiar with the matter, Reuters reported. The fund will initially invest in Asia, where Greenpark has just established a Hong Kong office. The office is to be headed by Chin Chin Teoh. Teoh joins from Bank of America Merrill Lynch, where she was managing director and co-head of the Asia private equity Group.
Canadian private equity firm Penfund has closed its fourth fund, Penfund Capital Fund IV, with committed capital of $460 million. This is an 80 percent increase on Penfund Capital Fund III‘s $250 million fund. The funds were provided entirely by a group of Canadian institutional investors.
Xpert Financial Inc. announced that users had registered more than $240 billion in institutional capital since the launch of Xpert’s Alternative Trading System last year. Institutional investors on Xpert’s platform include venture capital firms, private equity and growth investors, sovereign wealth funds, hedge funds, secondary funds, endowments and foundations, the company said.