fundnotes 050905

Fund Notes Benchmark Capital has closed its second venture capital fund focused on Israel-based technology companies. The final capitalization was $250 million, which is up slightly from the $240 million Benchmark raised for its inaugural Israel vehicle in March 2001. That fund currently features 20 portfolio companies, and has achieved a handful of exits through M&A activity (including Intel Corp.?s pending buy of fabless semiconductor company Oplus Technologies Ltd. for $100 million). Menlo Park, Calif.-based Benchmark maintains an office in Herzliya Pituach, Israel, plus one in London for its European efforts.Littlejohn & Co., a Greenwich, Conn.-based private equity firm focused on the middle-markets, has closed its third fund with $650 million in limited partner commitments.Carmel Ventures, an Israel-based VC firm focused on the software and communications markets, has closed its second fund with $200 million. Limited partners include The Partners Group, DPartners, Pomona Capital, Citigroup, Siemens Venture Capital, Horsley Bridge International, JP Morgan Fleming, LGT Capital Partners, NY State/HarbourVest Partners, The Kauffman Foundation, Swiss Re, Wilshire Associates, Goldman Sachs and Grove Street Advisors clients ? the California Public Employees? Retirement System and the Oregon Public Employees? Retirement Fund.Sun Capital Partners, a Boca Raton, Fla.-based leveraged buyout firm, has closed its fourth fund with $1.5 billion in limited partner commitments.Huron Capital Partners, a Detroit-based private equity firm focused on the lower middle-markets, has closed its second fund with $185 million in aggregate commitments. Limited partners include the Dow Employees? Pension Plan, Cigna Investment Management and the DuPont Pension Trust. Huron?s first fund was capped at $72 million in 2000.Envest Holdings LLC, a Virginia Beach, Va., venture capital firm, has closed its second fund with more than $48 million in limited partner commitments. The fund, which was targeted at $40 million, will invest mostly in the Mid-Atlantic region. Envest manages about $90 million in assets. David Kaufman, founder and senior managing director, says that more than half of fund II was raised from repeat investors.Darby Overseas Investments Ltd. and Banco Bilbao Vizcaya Argentaria SA (NYSE: BBV) have closed their Darby-BBVA Latin America Private Equity Fund with $175 million in limited partner commitments.

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