Global asset manager Adveq closed its Adveq Secondaries II fund above its $150 million target, reaching its hard cap of $175 million. The vehicle will continue the strategy of its predecessor fund, Adveq Secondaries CV, investing in opportunities across a broad range of investment stages, including small and midsize buyout opportunities, development capital, seed/early-stage venture capital and special situations.
Aqua Capital, which focuses on growth investments in mid-market agribusinesses, has held a final close on its Agribusiness & Food Fund at $173.4 million, exceeding its $150 million target. Limited partners include U.S., European, Middle Eastern and Latin American development finance institutions, endowments, family office, financial and fund of funds investors.
Private equity firm Ardian, which was recently spun off from French insurer AXA, has completed fundraising for a new 2.4 billion euro ($3.26 billion) buyout fund with fresh money from the United States and Asia, Reuters reported. Ardian said it had already committed 24 percent of the fund to six mid-market deals, Reuters wrote.
The Carlyle Group has closed 335 million euros (approximately $455.6 million) for its second European CLO fund. The pool will focus on new issue and secondary market European senior bank loans. The transaction was arranged by Citibank.
Catalyst Fund Limited Partnership IV has reached a final close with $812 million of capital commitments, significantly above the fund’s target range of $500 million to $750 million. The Toronto-based Catalyst Capital Group Inc, a private equity shop founded in June 2002, invests in distress-for-control situations. Atlantic-Pacific Capital served as the exclusive global placement agent for the fund.
Frazier Healthcare has raised $377 million for its seventh fund. The pool’s initial target was $300 million. Also, the company has promoted Brian Morfitt to general partner and Ben Magnano to partner. Based in Menlo Park, Calif. and Seattle, Washington, Frazier Healthcare is a growth equity and venture capital firm focused emerging healthcare service and biopharma companies.
UK mid-market private equity house Graphite Capital has closed its eighth fund, Graphite Capital Partners VIII. The vehicle attracted commitments of 475 million pounds ($760 million) and further commitments are likely to come in over the next few weeks bringing the total to over 500 million pounds.
Ironbridge Equity Partners has raised approximately $50 million for the first closing of its second private equity fund. Backed by a number of investors that include Northleaf Capital Partners, the fund’s target is $125 million. Elm Capital is the fund’s placement agent. Based in Toronto, Ironbridge is a private equity firm that focuses on Canadian lower mid-market companies operating in a broad range of industries. Other backers of Ironbridge Equity Partners II LP include two chartered banks and a large life insurance company.
Leeds Novamark Capital’s debut fund, Leeds Novamark Capital I LP, a small business investment company, has raised more than $130 million of capital, including leverage. The fund’s final closing is expected in 2014.
Origin Capital Partners has launched Origin Capital Fund II, targeting $100 million. The fund, which has collected $30 million, will invest in medical office, multi-family, office, industrial and retail properties in certain U.S. markets. Origin is a real estate private equity firm based in Chicago.
Palamon Capital Partners said its latest buyout fund had attracted 210 million euros ($284 million) worth of investments in a sign of growing confidence in Europe’s economic recovery, Reuters reported. The London-based company’s Palamon Auxiliary Partnership 2013 plans to invest the money within two years, the firm said in a statement.
TPG Capital-backed Indonesian private equity firm Northstar Group is seeking to raise around $1 billion in a new fund to invest in Southeast Asia, people familiar with the matter told Reuters. Northstar, established in Indonesia in 2003, is one of Southeast Asia’s home-grown buyout firms and is facing rising competition from global rivals like Kohlberg Kravis Roberts & Co and Blackstone Group, both of which have moved teams into the region in the last year.
VTB Capital Investment Management has launched the VTB Capital IM Russia & CIS Debt Fund. The fund will launch with $40 million and be domiciled in Luxembourg. An additional $15 million of soft commitments have been pledged before yearend.