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Fund News In Brief

Allegis Capital has begun raising a special opportunities fund, according to a filing with the Securities and Exchange Commission. The firm did not offer a target size for Allegis Special Opportunities Fund or list which partners will be associated with it. The fund has not yet had a closing, the document stated.

Capital Royalty said it has raised $805 million with its second private equity fund. Capital Royalty Partners II was oversubscribed and exceeded its initial fund raising target. Houston-based Capital Royalty is a growth investor focused on health care.

Fang Fenglei, a former Goldman Sachs banker and co-founder of Hopu Investment Management, is raising up to $2 billion in a new fund, Reuters reported. The Chinese firm Hopu surprised investors and rivals in 2010 when it suddenly wound down operations after raising and investing just one fund, which generated big returns and took part in several high-profile and profitable deals, Reuters wrote.

Pan-European private equity firm Idinvest Partners announced an interim close on its latest senior debt vehicle at €205 million ($266 million). The fund expects to reach a final close by the end of June.

NewSpring Capital said it closed its third growth equity fund, NewSpring Growth Capital III, with total commitments of $250 million. The fund exceeded its target of $200 million and is larger than the firm’s $136 million first fund, NewSpring Growth Capital, and $163 million second fund, NewSpring Growth Capital II. The firm has combined assets under management of more than $950 million.

Nexus Group has reached a final close on its second institutional fund, NG Capital Partners II. The firm reached the fund’s hard cap of $600 million, exceeding its $500 million fundraising target. The fund will invest primarily in Peru with the flexibility to execute investments in the Andean region.

Petra Capital Partners has raised $230 million for its most recent pool. Petra Growth Fund III is structured as a small business investment company licensed by the U.S. Small Business Administration. Fund III also closed an investment in Highstreet IT Solutions, of Denver. And, Matt Sotelo and Charles Webb have joined Petra as associates.

North Carolina-based Plexus Capital, a provider of growth capital to lower mid-market businesses, has raised $150 million from LPs, the firm announced. The capital will be combined with leverage from the Small Business Administration in the same amount to create Plexus Fund III, with total available investment capital of $300 million, said the firm, which meets SBA licensing criteria to provide subordinated debt and equity capital as a small business investment company.

Silver Oak Services Partners closed its latest fund, Silver Oak Services Partners II LP, with $206 million. Forum Capital Partners served as placement agent and fundraising adviser to the firm. Silver Oak focuses on control investments in target sectors of the business services, consumer services and health care services industries in the United States.

Lower mid-market buyout shop Solis Capital Partners has closed its second fund at $61 million. Solis, of Newport Beach, Calif., said it invests in companies in several industries including business services, niche manufacturing and software, typically headquartered in the western United States.

Tata Capital, part of steel-to-software conglomerate Tata Group, has raised $600 million for a private equity fund to invest in India, in what could be one of the largest debuts by a private equity fund targeting India, Reuters reported. Institutional investors from North America, Asia and the Middle East have invested in the fund, the company said.