Fundraising Updates: Pimco, Chart Capital, American PE Partners

Culled from regulatory filings, here are some recent private equity fundraising updates, not reported elsewhere.

Emerald Hill Capital Partners, an Asian-focused fund of funds, has raised at least $155 million toward its $300 million target for its second fund. The fund received a commitment $60 million commitment from Utimco. Emerald Hill was founded in 2005 by Eugene Choung, former director of Private Equity for the University of Chicago Endowment, and David Spencer, formerly of GE Capital.

Greyrock Capital Group, a Chicago-based mezzanine and equity investor, has raised at least $73 million from nine investors toward GCG Investors II. The fund, formed in March 2007, has a $250 million target. The firm has invested in three companies from fund two already: Paragon Products, Novolyte Technologies, and Andrews International.

Pacific Investment Management Company, or Pimco, is in the market with its second distressed mortgage fund. The fund, called PIMCO Distressed Mortgage Fund II LP, has a target of $3 billion, and has gathered at least $224.2 million in commitments to date. The fund was created in September 2008. Pimco’s first distressed mortgage fund invested in mortgage-backed securities, asset-backed securities and collateralized debt obligations. UPDATE: We’ve posted the results of PIMCO’s first distressed mortgage fund, which perhaps explain why it’s second isn’t gathering commitments at a breakneck pace…

American Private Equity Partners III, a private equity fund-of-funds, has raised $18 million toward its $250 million target. The firm is using Foreside Fund Services as its placement agent. The fund is managed by American Private Equity Management. Its prior effort had $145.7 million in commitments. In the past, the firm has committed to firms like Castle Harlan Partners, Evercore Capital Partners, and Fremont Partners.

Chart Capital Partners, a New York private equity fund, is in the market seeking at least $250 million for its second fund. It’s closed on $41 million from six investors to date. The fund was formed in 2008. The firm, a part of Chart Group, is led by Lehman Brothers alum Christopher Brady. According to its website, Chart Capital “specializes in making growth-oriented structured equity and control investments in smaller middle market companies. Chart Capital targets US-based niche market leaders generally producing revenue of $15-100 million.”

Square Mile Partners, based in Conn., is in the market for $1.2 billion for its third real estate fund. The firm has accumulated at least $253 million to date from 23 investors. It’s last fund closed in October of 2007 with $561 million in commitments. Park Hill is the firm’s placement agent.

Mount Yale Capital Group, a Minneapolis-based asset manager that operates a private equity fund-of-funds program, has raised at least $114.8 million toward a $250 million target for its first and only private equity-focused fund. The fund was formed in 2005.