European fund of funds manager ACG Private Equity said that it has strengthened its secondary practice by integrating the activities of BEX Capital, a secondary investment firm specializing in the acquisition of positions in private equity funds. The firm also appointed Benjamin Revillon as managing director.
Alterra Capital Holdings, which is backed by Stone Point Capital, has formed another sidecar. New Point V, which also has funding from Stone Point, has raised about $210 million to invest in the property catastrophe collateralized reinsurance marketplace. Stone Point is making the investment through its private equity fund, Trident V LP, with capital commitments from sponsors and additional investors of approximately $210 million for New Point V. Alterra provides specialty insurance and reinsurance products to create additional capacity for the property catastrophe collateralized reinsurance marketplace.
Buyout shop American Securities said it has closed its sixth fund, American Securities Partners VI LP, with total capital commitments of $3.64 billion. The fund comes in higher than the firm’s previous $2.33 billion fifth fund. American Securities is based in New York with an office in Shanghai.
AXA Private Equity has raised $8 billion for two of its funds, Reuters reported. Demand for the fundraising was from pension funds, government agencies and family offices in North America, the Middle East and Asia, according to Reuters. Of the total money raised, $7.1 billion was for AXA Private Equity’s secondary fund of funds and $900 million for its primary fund of funds, the group said.
The Carlyle Group, the world’s second largest alternative asset manager, has clinched $2 billion for its latest U.S. private equity fund, a fifth of its fundraising target, a person familiar with the matter told Reuters. Carlyle Partners VI, the firm’s sixth flagship U.S. private equity fund, which has a target of $10 billion, reached a fundraising close after launching in January, Reuters reported. Carlyle declined to comment.
Chinese investment company Fosun International is to form a strategic partnership with the Danish private equity investment firm Axcel to identify business opportunities in China and Europe, Reuters reported. The partnership agreement was to be signed during a visit to Denmark by Chinese President Hu Jintao, Axcel said—one of many Sino-Danish deals set to be rubber stamped.
Mid-market Canadian buyout firm Fulcrum Capital Partners has reached a final close on its fourth private equity fund, bringing committed capital to C$193 million. Fund IV comprises seven institutional investors including continued support from existing and new institutional investors. Fulcrum’s previous private equity fund was raised in 2005 and had capital commitments of C$140 million.
Kohlberg Kravis Roberts & Co. has raised more than $3 billion for its second Asia fund, according to a securities filing, Reuters reported. Of that amount, $2.76 billion came from U.S. and non-U.S. investors, while $250 million has been committed by its general partners, Reuters wrote.
Partners Group has closed its global real estate 2011 program at more than $800 million. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Munich, Dubai, Singapore, Beijing, Seoul, Tokyo and Sydney