Iris Dorbian

Law firm Davis Polk has added Michael S. Hong as a partner in its investment management group. Hong will focus on private equity fund formation. Previously, Hong worked at Paul, Weiss, Rifkind, Wharton & Garrison LLP where he was a partner in their private funds group.

Loftware Inc, a portfolio company of Riverside Partners, has acquired UK-based Gap Systems, a provider of SaaS-based artwork management solutions. No financial terms were disclosed.

Paya, a portfolio company of GTCR, has named Mike Vaughn as chief operating officer. Previously, he was the vice president of operations for Total Merchant Services. Reston, Virginia-based Paya is a provider of integrated payment processing and business solutions.

An Energy Capital Partners-led consortium has acquired Calpine for $15.25 per share. Other co-investors include Access Industries and Canada Pension Plan Investment Board. As a result of the closing of this deal, Calpine will stop trading on the New York Stock Exchange prior to the opening of the market on March 9, 2018. Lazard was financial adviser to Calpine while Barclays Capital Inc did likewise for Energy Capital Partners. Calpine is a generator of electricity from natural gas and geothermal resources.

The Carlyle Group has raised over $5 billion for its eighth real estate fund, according to SEC filings. No target was listed on the document.

Miller Environmental Services, which is backed by Trinity Hunt Partners, has acquired Belco Industrial Services, a provider of specialty industrial services in Texas and Louisiana.

U.S. private equity firm TA Associates has closed its previously announced investment in Itasca, Illinois-based Flexera, a software supply chain company, according to a blog post on the latter's site. No financial terms were disclosed. Ontario Teachers' Pension Plan, which acquired a majority stake in Flexera from U.S. private equity firm Thoma Bravo in 2011, will be working in partnership with TA Associates to continue to grow Flexera.

ORIX Capital Partners has appointed Scott Phillips as director of operations. Previously, Phillips worked at TE Connectivity where he was a senior manager.

Battery Ventures has acquired Kennebunk, Maine-based Plixer, a provider of network traffic analytics. No financial terms were disclosed. In addition to the funding, Battery Ventures' Russell Fleischer, Jordan Welu and Sabrina Chiasson are joining Plixer's board. And, Plixer has appointed Jeff Lindholm as CEO.

Ardian Real Estate has agreed to acquire two office buildings in Paris. No financial terms were disclosed. The first deal is for an office building in the 8th district of Paris, near the Parc Monceau while the second is for the headquarters of radio station Europe 1.