Thayer Hidden Creek, a Washington, DC, and Minneapolis-based lower middle market private equity firm, is raising its second fund. Thayer Hidden Creek Partners II, L.P. has a target of $350 million. The fund has raised $84.8 million from 10 investors to date. Berchwood Partners is listed as a placement agent to the fund.
Baird Capital Partners is raising its fifth buyout fund. The fund was formed in 2008, and its target is listed as $376.2 million. The firm has closed on $130 million as of February 8. Thomas Capital Group, Inc. and Robert W. Baird & Co. itself have been listed as placement agents to the fund.
Rockland Capital is raising a fund called Rockland Power Partners LP. The vehicle was formed in 2008 and has collected $100.4 million in commitments from 19 investors as of February 9. The fund has a $500 million target. Berchwood Partners is serving as the firm’s placement agent. Rockland, based in Houston and New York, was formed in 2003 to acquire and develop selected investment opportunities in the North American and European power and energy infrastructure markets.
Snow Phipps has held a first close on its second fund with $308 million in commitments. The firm entered the market with fund two in October, with a target of $700 million, only a slight jump from its $620 million debut vehicle. Raymond James, Guggenheim Securities and Credit Suisse are listed as placement agents. The New York-based firm was founded in 2005 and invests in middle-market companies in the specialty franchising, basic and process industries, apparel and luxury retail, media technology, specialty finance, IT services and telecommunications equipment and industrial components sectors. See previous peHUB coverage here.
Northern Trust Private Equity Fund, the funds of funds vehicle from asset manager Northern Trust, is raising its fourth fund. The firm seeks $400 million, and has gathered $25 million from 20 investors. The fund requires its investors, who include high net worth individuals, to have a net worth greater than $1.5 million and entities must have investments greater than $5.0 million.
Maranon Capital is more than halfway to its target for Maranon Mezzanine Fund LP, the firm’s first mezzanine vehicle. Chicago-based Maranon launched the vehicle in 2009, seeking $250 million in commitments. In July 2009, the firm held a first close on $93 million; this month the firm held a second close on $180 million in commitments. The firm planned to hold a final close in fall 2009, according to a previous Buyouts story. Mallory Capital Group was listed as a placement agent. The firm was formed in 2007 by Tom Gregory and Ian Larkin, both of whom previously worked together at business development company American Capital Strategies Ltd. In total, the shop has nine investment professionals. See prior coverage here.
DAG Ventures, a venture capital fund based in Palo Alto, Calif., has raised just under $500 million for its fourth venture capital fund, according to a two SEC filings. A fund called DAG Ventures IV-QP, L.P. has gathered $451.825 million in commitments from 75 investors. A parallel fund reported $47.75 million in commitments from 12 investors. Mercury Capital Advisors is listed as the firm’s placement agent. The firm invests in life sciences, information technologies and energy technologies companies. See full story here.