Washington, D.C.-based private equity firm
As previously reported, Perseus VIII is targeted at $600 million, similar to the amount that the firm raised for its previous fund in 2007.
Dave Davis, senior managing director, says that firm has begun fund-raising, but he wouldn’t disclose any details of its progress. PE Week reported in early October that the firm was firm planning to hold a first close on fund VIII during the fourth quarter.
Investors in fund VII include the New Mexico Educational Retirement Board, the North Carolina Retirement System, the Massachusetts-based Public Employee Retirement Administration Commission and the University of California, according to public documents.
A source familiar with the situation previously said that all, or almost all, investors in fund VII are expected to re-up for the new vehicle.
The firm is known for investing in a mix of industries, including software, computer hardware, energy, pharmaceuticals and retail commerce, such as tennis shoe maker Converse Inc.
Perseus made five investments this year with a $3.2 million average investment per company, compared to last year where the firm made eight investments with a $6.5 million average investment, according to Thomson Reuters (Publisher of PE Week).
Perseus has invested in growth equity companies as part of fund VII. It recently backed in-flight-entertainment provider Lumexis, and footwear company Established Brands International, says Davis. —Martha Sanchez-Avila and Ari Nathanson
Pantheon plugging away on secondaries fund
Pantheon’s fund, Pantheon Global Secondary Fund IV, has a target of $4.75 billion, according to a regulatory filing. However, an April report from Probitas Partners pits the fund’s target at $3.75 billion. Pantheon raised $2 billion in commitments for its previous fund, a 2006 vintage.
Pantheon isn’t the only secondary fund that is experience slow fund-raising progress this year.
Hudson wraps up cleantech fund
C.P. Eaton Partners served as lead placement agent for the fund, and was assisted by Credit Suisse and Poalim Ventures Ltd.
Investment areas that interest Hudson Clean Energy Partners are wind, solar, biomass, energy efficiency and energy storage. The fund would look at grid-scale energy storage as well as automotive applications, says John Cavalier, managing partner.
The late stage expansion growth capital fund intends to invest about $50 million to $150 million on average in one transaction. It typically does not invest in early stage companies.
The fund is looking to invest in about 10 to 12 cleantech companies over the next couple of years.
The Teaneck, N.J.-based firm was founded by Managing Partner Neil Auerbach in 2006. Prior to launching the new firm, Auerbach was a partner at Goldman Sachs, where he co-founded the financial giant’s U.S. alternative energy investment business. —Reuters