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Fund Notes 02/07/05

Doughty Hanson & Co., a U.K.-based private equity firm, has closed its fourth fund with about $2.07 billion in commitments, including about $113 million from the general partner. The firm originally targeted $3.9 billion, but later scaled back its expectations. Participating limited partners include Partners Group, HarbourVest Partners, J.P. Morgan Asset Management, the University of Texas Investment Management Co., the State of Michigan Retirement System, Morley Fund Management, Ilmarinen Insurance and Verizon Investment Management.

Expansion Capital Partners, a San Francisco-based VC firm focused on companies in the clean technology sector, held a first close on its second fund, with over $20 million in capital commitments. The fund is being marketed with a $50 million target capitalization.

Sterling Group Partners II LP of Houston, Texas, has filed to raise $450 million for a private equity fund. At the time of its SEC filing, the fund had already raised more than $170 million from 14 investors.

Prism Venture Partners of Westwood, Mass. is raising its fifth fund with a $400 million target, and already has secured more than $103 million in limited partner commitments, according to a regulatory filing.

Basso Private Opportunity Fund LP of Stamford, Conn., has filed to raise $50 million. At the time of its SEC filing, the fund had already raised $10.7 million from 12 investors. Chester Square Partners is listed as an investor in the fund. The fund plans to invest in privately placed equity as well as in publicly traded equity and securities.

VenGrowth Capital Partners has held a first closing on a new $32 million mezzanine fund. Limited partners include The Business Development Bank of Canada, BMO Nesbitt Equity Partners and The Canadian Medical Protective Association.

Monitor MBG ESC LP of Cambridge, Mass., raised an additional $1.7 million from 23 accredited investors. This brings the total amount raised to $3.7 million. In a separate filing, Monitor Coinvestors II LP raised an additional $6 million from 20 investors bringing the total to $10.3 million. Both funds plan to invest in private and public equity funds and pooled investment vehicles.

SISU Capital Private Equity Fund A LP of London has filed to raise $259 million through a private placement of limited partnership interests. At the time of its SEC filing, the fund had already raised $57 million from six accredited investors. The fund plans to acquire control equity positions in mid-market companies across Europe.

Southern Cross Latin America Private Equity LP raised an additional $41 million from four investors. This brings the total amount raised to more than $217 million out of a targeted $250 million. In May 2004, the fund reported that it had raised $176.2 million.

LLR Partners of Philadelphia has closed its second fund with $360 million in limited partner commitments. The firm will maintain its focus on middle-market companies primarily based in the Mid-Atlantic region. www.llrpartners.com