Los Angeles-based buyout firm
The firm entered the market with FS Equity Partners VI last year, targeting to raise $1.75 billion. But in the past 12 months, Freeman & Spogli has yet to hit the halfway point.
The firm raised $1 billion for its previous fund, which closed in 2003.
Freeman Spogli’s sixth fund has received a $40 million commitment from School Employees Retirement System of Ohio and additional investments from the Florida State Board of Administration and the Massachusetts Pension Reserves Investment Management Board.
The firm, based in Los Angeles, was founded in 1983 as Riordan Freeman & Spogli by Richard Riordan, who later became mayor of Los Angeles, Bradford Freeman and Ronald Spogli. —Erin Griffith
Aureos raises $381M for new Africa fund
Private equity firm
The London-based firm aims to make initial investments of up to $10 million in businesses that have potential to expand across Africa within two to three years, Aureos said in a statement.
The firm has already invested about $120 million in 10 companies, including an East African milk production firm, a Nigerian biscuit manufacturer and a cement company in Senegal, it said.
Aureos says it has $1.2 billion under management in over 50 emerging markets in Asia, Africa and Latin America, through 16 regional private equity funds. —Carolyn Cohn, Reuters
Invision Capital raising debut fund
Invision’s principals include Robert Castillo, founder partner of Valor Equity Partners; Thomas Harrison, co-founder of Diamond Creek Capital; and John Devaney, also a co-founder of Diamond Creek Capital.
The firm already has secured more than $15 million in commitments.
MicroVest closes fund
J.P. Morgan Securities Inc. acted as a placement agent, and one of its affiliates was a lead investor. In addition to J.P. Morgan, investors include the International Finance Corp., CARE USA, Kinnevick New Ventures AB, The Prudential Insurance Company of America, Christian Super Pyt, Ltd. and Mennonite Economic Development Associates.
Clarity sets clear path for $650M
Triton spears over $3B
The firm raised about $1.4 billion for its second fund, which closed in 2006.
Merlin looks to hook $75M
Insight raises $525M
The firm raised $250 million for its first fund, which closed in 2005.
Oaktree targets $800M
Oaktree Capital Management
is raising its third energy fund, according to a regulatory filing. The firm is targeting $800 million with a hard cap of $1 billion.
It’s the firm’s first energy-focused effort without its former partner, GFI Energy Ventures, which sold its franchise to Oaktree, according to LBO Wire.