Fund News In Brief

Accolade Partners has closed its fourth fund of funds at $150 million and promoted Atul Rustgi to partner and Andy Salembier to chief operating officer. The firm’s third fund closed in 2008. Accolade provides access to endowments, foundations, institutions and individuals to growth equity and venture capital funds.

Bison Capital Asset Management has reached a final close on Bison Capital Partners IV with approximately $218 million of capital commitments, in excess of its initial $200 million target. Fund IV will make growth capital investments in lower mid-market companies, public or private, for expansion, acquisitions and balance sheet recapitalizations.

Dos Rios Partners has reached a first close of Dos Rios Partners LP as well as the receipt of its small business investment company license. The fund has received commitments of $150 million.

Hudson Clean Energy has launched an inaugural solar infrastructure investment program, Hudson Solar Infrastructure Program, with closed with commitments of up to $150 million for equity investments in solar photovoltaic power generation projects worldwide. The new program will expand Hudson’s global clean energy market product offering, which began in 2007 with a growth private equity fund in excess of $1 billion in size.

Global alternative asset management firm Napier Park Global Capital has held a final closing of Napier Park Railcar Lease Fund. The vehicle is a $370 million specialized, single-purpose private equity fund, with an additional direct co-investment of $50 million from a limited partner.

Private equity firm Phatisa has closed its biggest fund, the African Agriculture Fund, which has secured commitments of $243 million, Reuters reported.