Capital Dynamics has completed the investment program for its U.S. Solar Energy Fund, employing an all-equity financing strategy for the portfolio. The fund committed more than $280 million in equity capital to 40 solar photovoltaic projects located in five U.S. states and already has generated tax equity and related proceeds of more than $110 million for its investors to date.
The Carlyle Group LP has closed it first sub-Saharan African fund after raising $698 million, the U.S. private equity firm said, exceeding its initial target by 40 percent.
Buyout shop Hammond, Kennedy, Whitney & Company has raised approximately $316 million in the final close of its fourth fund. The pool’s target was $300 million. According to the firm, its LPs include six insurance companies, four funds of funds, two state pension funds and one university endowment. The fund will invest in North America-based lower mid-market companies.
Global investment firm HarbourVest has raised $1 billion in the final close of its oversubscribed 2013 Direct fund. The target was $750 million. According to the firm, the pool has more than 30 LPs, which include corporate pensions, public pensions and international foundations. It has already invested in 10 buyout and growth equity transactions in the United States, Australia and Latin America.
Matrix Partners has closed its Matrix Partners China III on $350 million, bringing total capital under management in China to more than $1 billion. Matrix Partners was founded in 2008.
Malaysia’s largest asset manager, Permodalan Nasional Bhd, has partnered with Tokyo-based Inspire Corp to form Japan’s first fund devoted to investing in Malaysian sharia-compliant firms, Reuters reported.
Global private equity firm Pomona Capital has raised $1.75 billion in the final close of its eighth secondaries fund. The target was $1.3 billion.