Raising a new fund over the past two years has been hard. Raising a first-time fund has been even harder. And raising a first-time fund formed just before the Lehman Brothers meltdown has been harder still.
That’s the uphill battle faced by
It resumed fund-raising last year with a $100 million target, the firm recently held a $21 million first close from high-net-worth individuals. A source close to the situation says that fund-raising continues, although the source acknowledges that the target remains a long way off.
The Staley team is led by Renny Smith, a former Thomas H. Lee Partners investor who co-founded the firm’s venture arm called TH Lee Putnam Ventures. Other partners include Jay Crystal (a former associate with American Capital Strategies), Snantanu Dhaka (a former Jefferies analyst) and Amit Basak (who previously was with Insight Venture Partners and J.H. Whitney). —Dan Primack
Elbrus launches from Renaissance remnants
The group still has about $160 million in legacy dry powder to invest. Its principals include Dmitri Krukov, former managing partner of Renaissance Private Equity, Alexander Savin, former CEO of A1 Group, and Robert Thielen, founder and managing partner of Waterland Private Equity.
GEF seeks to raise $150M
HitecVision raises $429M
MVision served as placement agent.
Blackstone/GSO float debt fund