PE fund briefs, week of Jan. 14, 2008

Gryphon Investors raises $100M annex fund

San Francisco-based buyout firm Gryphon Investors has tapped its limited partners for a $100 million supplemental vehicle to Gryphon Partners III that should last the firm through the rest of the year.

The annex fund, closed earlier this month, adds to the $415 million fund that the middle-market firm raised in 2006.

Rather than fire up the machinery to raise a new vehicle, Gryphon Investors secured permission from a majority of its LPs to raise the annex fund. The firm wanted to complete deals without the distraction of launching a formal marketing campaign, according to President and Managing General Partner David Andrews. Andrews explains that Gryphon has lined up two deals, in the health care and food services sectors, which it expects to close in February, requiring equity from the main fund and the annex vehicle.

“We felt we had good momentum, and we wanted to remain fully focused,” Andrews said.

The firm has not set a target for fund IV, which the firm expects to begin marketing in about year. —Jeremy Harrell

NY firm closes inaugural fund

GenNx360 Capital Partners has closed its debut fund with more than $500 million in capital commitments. The New York-based firm plans to focus on underperforming B2B industrial companies with between $250 million and $1 billion in revenue.

General partners include Lloyd Trotter, who will retire next month as vice chairman of General Electric; Arthur Harper, former president and CEO of GE Equipment Services; and Ronald Blaylock, founder of Blaylock & Co.

Cadent Energy powers up with $231M

Cadent Energy Partners, a Rye Brook, N.Y.-based private equity firm focused on energy opportunities, has raised $231 million for its second fund, according to a regulatory filing. The firm raised $220 million for fund I in 2005.

Limited partners include CommonFund, University of Chicago and the Andrew W. Mellon Foundation.

Oakcrest sets sights on $150M

Oakcrest Capital Partners is targeting $150 million for its debut fund, according to LBO Wire. The small-cap buyout fund is based in Washington, D.C., and is run by former Oklahoma Congressman J.C. Watts and former Pacesetter Capital Group Partner Linda Roach.

Crestview cresting near target

Crestview has raised $1.7 billion billion for its second fund, Crestview Partners II, which is expected to close later this year with more than $2 billion. The New York-based middle-market firm raised less than $1 billion for its previous fund in 2004.

Limited partners include Princeton University and the South Carolina Retirement Systems.

Blum reaches $1B

Blum Capital Partners has held a $1 billion first close on Blum Strategic Partners IV, according to a regulatory filing. The firm raised $1.2 billion for fund III in 2005.

The San Francisco-based firm has an upper target of $2.4 billion for the fund, and is using Triago as its placement agent.