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peHUB First Read

This morning’s First Read brings you news of AnaCap’s Fund III, the launch of female outfit Aspect Ventures, a ‘one and done’ for Draper Fisher Jurvetson and an inaugural debt fund for Neuberger Berman.

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peHUB First Read

Take a break this morning with the latest news links and discover all about Warburg Pincus’ energy fund plans, Neuberger Berman’s penchant for Latin American deals, why MassPrim is topping the PE performance charts and Pinterest doing it again with its Series E.

GrandTetons

Wyoming Earmarks $600M for PE, Snubs Cheyenne Capital

The Wyoming Loan and Investment Board plans to invest $600 million into three separate managed accounts over the next three to five years, with Hamilton Lane and Neuberger Berman each managing $200 million separate accounts. PE shop Cheyenne Capital, which currently manages a separate account for Wyoming, was said to not meet the state’s new requirements due to its size.

Kasser Joins Neuberger Berman

Susan Kasser has joined Neuberger Berman as an MD and head of private debt at Neuberger Berman Alternatives. Kasser joined Neuberger Berman in March and is based in New York. Most recently, Kasser was with the Carlyle Group, where she was a founding member of Carlyle Mezzanine Partners.

A full moon rises behind the Empire State Building and the Chrysler Building over the skyline of Manhattan in New York

New York City Makes Mammoth $1.1B In PE Commitments

The New York City Retirement Systems, the $127 billion group of municipal pensions overseen by the city comptroller’s office, made an impressive $1.1 billion in commitments to five private equity funds in the first quarter, according to Stephanie Hoo, a senior press officer. According to sister magazine, Buyouts, the funds are managed by The Carlyle Group, Platinum Equity…

3i Invests in Brazilian Eyewear Retailer

A consortium led by 3i Group has agreed to acquire Óticas Carol, a Brazilian eyewear retailer from Brazilian entrepreneur Marcos Amaro. As part of the transaction, OC CEO Ronaldo Pereira will significantly increase his equity stake in the company. Institutional investors Neuberger Berman and Siguler Guff are co-investing alongside 3i in the transaction, which is expected to close by the end of March. The combined equity investment amounts to R$108 million (£36.4 million).

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Dyal Capital, PE Fund Buying Hedge Firm Stakes, Tops Target

In 2010, Neuberger Berman, the big money manager spun out from the now-bankrupt Lehman Brothers, took a big gamble when it launched a new type of fund that would blur the lines between private equity and hedge funds by purchasing minority stakes in high performing hedge fund managers. More than two years later, the verdict is in…

Neuberger Berman Inks $720M for Fund-of-Funds

Neuberger Berman Group has raised $720 million for its NB Crossroads 2010 Fund, which will focus on investing in private equity funds and co-investments alongside buyout shops. Neuberger Berman has offices in New York, Dallas, London and Hong Kong.

New Director of Comms for Carlyle

The Carlyle Group has appointed Randall Whitestone as principal and director of communications for the Americas. Whitestone, with more than 25 years of experience in corporate communications and financial journalism, comes to Carlyle from Neuberger Berman where he served as global head of corporate communications. He is based in New York.

This Week’s Top 10 Hub Posts Focus on Companies Stuck in IPO Pipeline, FoF Fundraising Slowdown and ‘Googorola’

It’s time to catch up on the stories and slideshows your colleagues found most compelling on peHUB this week. Here are the top 10 posts that garnered the most pageviews from regular readers from Aug. 15 to Aug. 19. Market turmoil was top of mind for our readers, with a top 10 list of PE-backed companies stuck in the IPO pipeline scoring the most pageviews. Other hot topics included a slowdown in fundraising for funds-of-funds, “Googorola” and performance data.

1. Top 10 PE-Backed Companies Waiting To Go Public – by Luisa Beltran
2. Fundraising Gets Even Slower for Funds-of-Funds – by Lawrence Aragon
3. Colorado PERA Top-10 Performing Funds Since 1982 (subscribers only) – by David Toll
4. Six Buzzworthy Emerging Managers – by Bernard Vaughan
5. A Slowdown for Most Active VC Firms in July (subscribers only) – by Alastair Goldfisher
6. Welcome to the Family, Motorola! – by Jonathan Marino
7. Gap Between Top And Bottom Performing Private Equity Funds Widens; Comparison By Vintage Year – by Mark Boslet
8. With Motorola Mobile’s Sale, Quattrone’s Qatalyst Scores Largest Deal Ever – by Luisa Beltran
9. And the Winner of the Google/Motorola Naming Contest Is … – by Lawrence Aragon
10. Neuberger’s Dyal Fund Blurs Line Between PE and Hedge Funds – by Gregory Roth

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Neuberger’s Dyal Fund Blurs Line Between PE and Hedge Funds

The boundaries keep getting blurred between private equity funds and hedge funds, as one of the world’s largest money managers, Neuberger Berman, has raised most of its $1 billion target for its new Dyal Capital Partners private equity fund, which plans to take minority stakes in prominent hedge fund firms.

According to a person familiar with the fund, Dyal so far has raised more than $600 million toward its goal. Dyal began raising money in July 2010, and there is a good possibility that the fund will be able to close by the end of 2011, the person said.

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