Altus Capital Partners has held a $27.6 million closing on its SBIC fund, and now is eligible to apply for $55 million of additional capital from the Small Business Administration. The Westport, Conn.-based firm focuses on buyouts and recapitalizations.

The Carlyle Group has raised about $471 million for Carlyle Japan Partners, a new fund that will make pro-management buyout investments in Japan. The firm says that nearly 60% of the capital commitments came from Japanese institutions.

Torontoís Covington Capital closed its $48 million New Millennium Venture Fund Dec. 31, but may reopen it later. Launched in 2000, the fund is 60% invested. Since its inception, this Labour Sponsored Investment Fund has invested in 16 companies. New Millennium focuses on investments in new digital, wireless, consumer electronic technologies and e-commerce solution companies in Canada.