PE fund briefs, week of Oct. 15, 2007

CDR plans eighth fund

Clayton Dubilier & Rice

plans to begin raising its eighth fund later this year, according to Private Equity Insider. The firm will target between $6 billion and $7 billion. It closed its previously fund with $4 billion last year, and later added a $550 million co-investment vehicle.

ACS closes fund II

American Capital Strategies

has closed its second private equity fund with $585 million in capital commitments. AIG served as cornerstone limited partner, and was joined by Landmark Partners, Paul Capital Partners, Lehman Brothers Secondary Opportunities Fund and SVG Advisers Ltd. The fund will use $488 million to purchase American Capital’s equity investments in 80 portfolio companies, while the remaining $97 million will be used for follow-on investments in those portfolio companies.

Behrman targets $1B

Behrman Capital

is targeting $1 billion for its fourth fund, according to a regulatory filing. The New York-based buyout firm previously raised $1.2 billion for its third fund in 2001, and already has secured more than $137 million for its new effort.

Homeland security firm launches

Egis Capital Partners has launched as a private equity firm focused on small-cap companies in the commercial security and homeland defense industry. Its principals are former Apax Partner Robert Chefitz, USBX founder and CEO John Mack and former Andersen Partner Joseph Falkenstein.

Guggenheim soars with $737M

Chicago-based Guggenheim Partners has closed its second fund, Guggenheim Aviation Investment Fund II, with $737 million in capital commitments. The firm acquires new and used aircraft, and then leases them to passenger and freight airlines.

LLR to raise $600M

LLR Partners

is raising $600 million for its third fund, according to LBO Wire. The Philadelphia-based firm focuses on lower-middle-market opportunities in the Mid-Atlantic region, and closed its second fund in 2005 with $360 million.

Warburg inches closes to $12B

Warburg Pincus

has held a $9 billion first close for its 10th fund, according to LBO Wire. The New York-based firm is targeting $12 billion, and began fund-raising in past March.