Goldman whittles $1 bln from Volcker Rule portfolio: Buyouts

Goldman Sachs Group trimmed $1 billion in the first half of the year from alternative funds subject to the Volcker Rule, bringing the total figure down to $8 billion, according to recent comments by the marquee investment bank and private equity fund manager.


Vector, Cerium Technology recapitalize Allegro Development Corp.

Vector Capital and Cerium Technology have recapitalized Allegro Development Corporation, a software provider for power and gas utilities, refiners, producers, traders and energy consumers. David Fishman, a managing director with Vector, will join Allegro’s board of directors. Jason Liu is joining Allegro as interim chief executive officer.


Method Advisors hires former Harvard endowment private equity official

Private equity advisory firm Method Advisors has hired Orlando Mendoza as a partner working out of the Boston office. Mendoza, who came from Twin Focus Equity Partners, where he led the private equity global advisory practice, will focus on co-investments, fund investments and business development. Prior to Twin Focus, Mendoza worked at Harvard Management Company on the private equity portfolio.


New Capital Partners hits $232 mln hard cap on Fund III

New Capital Partners has closed its third fund, New Capital Partners Private Equity Fund III, on the $232 million hard cap. Fund III beat its $200 million original target. The Birmingham, Alabama-based firm launched fundraising in March, 2014. Lazard worked as placement agent on the fundraising.


peHUB First Read

To end your week, First Read has advice for interns from a group of tech luminaries, President Obama lashes out against inversions and SecondMarket founder Barry Silbert is stepping down as CEO to focus on bitcoin.


Riverwood invests up to $45 mln in water technology company

Riverwood Capital has invested up to $45 million in Underground Solutions, Inc., a water and wastewater infrastructure technology business. The transaction includes initial funding of $30 million in the company’s Series C preferred stock, with an option for an additional $15 million investment. A portion of the investment will be used to acquire Process Solutions, Inc., which developed and sells two water technologies.

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