Fund news in brief

Beechbrook Capital, a specialist direct lender in London, has held a second close on Beechbrook Mezzanine II at 110 million euros ($149 million).

Harbert United States Real Estate Fund V has reached a final close in excess of its $400 million fund cap. Harbert Management Corp manages approximately $4 billion globally, which includes $1.5 billion in committed equity across its U.S. and European real estate funds.

Three partners from Oak Investment Partners have held a first close on more than $400 million for a new fund called Oak HC/FT Partners, according to three people with knowledge of the fundraising.

The growth equity firm Spectrum Equity is looking to raise $800 million for its seventh fund, according to a source and an SEC filing.

New York-based Sycamore Partners has raised $2.5 billion for its second fund. Simpson Thacher & Bartlett acted as fund counsel.

Minneapolis-based Värde Partners has raised $2 billion in the final close of its latest fund focused on distressed and credit-oriented investments. Most of the pool’s LPs backed the firm’s previous funds.