Dubai-based distressed specialist HBG Holdings has held a second close on $120 million for its Middle East and South Asia-focussed fund. It is expected to close this year with commitments ‘north of $200 million’, more than double its initial target.
Private equity investment behemoth AlpInvest has recruited a trio of secondaries specialists to strengthen its teams in New York and Amsterdam.
Alpha Associates, the central and eastern European fund manager, has held the final close of its second fund, which is already 40 percent committed.
The €40 billion private equity investor has more than doubled its mezzanine mandate from its former pension fund parents, expanding its remit to include Europe and opening its London office.
Trade buyer Towergate has bought IT company Open International from Montagu Private Equity, led by Chris Masterson, indicating trade sales are still viable as an exit route.
The US alternative assets group has sold a further 7.5 percent stake in itself to a strategic investor, valuing David Rubenstein's firm at $20 billion. It sold 5.5 percent to CalPERS in 2000.
US pension giant CalPERS has launched a €400 million, Europe-focussed buyout initiative, to be managed by the private equity division of Scotland-based investment manager Standard Life Investments Group.
US- and Japan-focussed venture firm Globespan Capital has closed its fifth fund on $380 million.
African buyout firm Venture Partners Botswana has fully invested its first fund and it is looking to raise €150m for its second. The fund recently bought a stake in US insurer AON’s Botswana arm.
CalSTRS may follow in the steps of crosstown rival CalPERS, selling portions of its portfolio through the secondary market. Last month its board approved this – and two other – significant policy changes.
Apollo will reportedly become the second major alternative asset manager to list a portion of its management company on Goldman’s private exchange. The private float is expected to follow sales of minority stakes to Abu Dhabi and possibly CalPERS.
Dubai International Capital is restructuring its business to create a specific private equity arm as it looks to expand the company and its buyout arm over the next two years.
Earlier this week, two of the largest US pensions announced their investment gains for the last fiscal year—including another year of strong returns from property.
Hermes Private Equity has secured a £300m commitment for a new direct private equity fund from the BT Pension Scheme.
Litorina Kapital has bought Securia Systems, a personal insurance and protection company that has enjoyed 90 percent sales growth over the last two years.