British private equity company 3i Group has no immediate plans to raise a new fund despite a turnaround in its business since a leadership change last year, Reuters reported. The owner of women’s fashion chain Hobbs and Tommee Tippee baby bottle maker Mayborn has spent the last 18 months restructuring after shareholders criticized its poor share price performance and weak results from its buyout business.
Adelis Equity Partners has closed Adelis Equity Partners Fund I, a 420 million euro ($564 million) buyout fund focused on the Nordic lower middle market. O’Melveny & Myers represented the firm in the fundraising.
Armstrong Asset Management has raised its first clean energy fund, with a final close on $164 million, exceeding the initial target fund size of $150 million. A total of 10 investors from Europe, North America and Asia have made capital commitments to the Armstrong South East Asia Clean Energy Fund since the fund held its first close in August 2012.
The Carlyle Group has closed a $415 million collateralized loan obligation fund, the firm’s sixth new-issue CLO this year with four in the U.S. and two in Europe. Carlyle Global Market Strategies CLO 2013-4 will invest in corporate leveraged loans and high yield bonds. Wells Fargo arranged the transaction.
EBF & Associates, an alternative investment firm, has held a final close on $800 million for Merced Partners IV. The fund, which closed at its hard cap, had an initial target of $750 million. Merced Partners IV makes opportunistic value investments in niche financial instruments and hard assets, generally ranging from $10 million to $100 million. Merced Partners III closed at $567 million in December 2010.
India’s Kedaara Capital, co-founded by a former India head of Singapore sovereign fund Temasek Holdings, has raised $540 million for its maiden fund, Reuters reported, at a time when first-time funds in Asia are struggling to raise capital.
KPMG International has launched a new fund, KPMG Capital. The fund will invest primarily in data and analytics. No financial terms were disclosed. Headquartered in the Netherlands, KPMG is a global company that provides audit, tax and advisory services.
NBK Capital has launched its second private equity fund, NBK Capital Equity Partners Fund II LP, with $217 million in capital commitments. The new fund will invest in growth opportunities in mid-market companies across the MENA region.
Toronto-based buyout firm Northleaf Capital Partners has raised $206 million for its private equity secondaries fund. This figure surpasses the fund’s initial $200 million target. According to the firm, the fund plans a final close in December.
Asia private equity firm RRJ Capital is launching an up to $1 billion real estate fund that will mostly target investments in China, the firm’s founder, former Goldman Sachs dealmaker Richard Ong, told Reuters. RRJ’s new fund, which is initially seeking $500 million, will focus on residential, retail, hospitality and care homes for the elderly, and is expected to close in the first quarter of next year, Ong said. The fund will target a 25 percent to 30 percent return on investments, Reuters reported.