Industrial Opportunity Partners has closed its debut fund with $185 million in capital commitments. The Evanston, Ill.-based firm focuses on middle-market manufacturing and distribution businesses, typically with revenues between $30 million and $300 million. Park Hill Group served as fund placement agent. www.iopfund.com
Alinda Capital Partners has closed its debut infrastructure fund with $3 billion in capital commitments. C.P. Eaton served as placement agent. Alinda was formed last year by a team led by Chris Beale, former global head of project finance at Citigroup. Other senior managers include: Phil Dyk, former president of Ahlstrom Capital; Sanjay Khettry, former […]
Colin Maltby has decided to retire as head of investments for BP Pension Fund, after a seven-year run. He will be succeeded by Tony Pike. In other BP news, Vicky Wilson has been hired as head of private equity, a new position. She previously spent time with both the British Airways and Shell Pension Funds. […]
Luminescent Technologies Inc., a Palo Alto, Calif.-based provider of lithography-enhancement products to the semiconductor industry, has raised $9 million in fourth-round funding. Adams Capital Management led the deal, and was joined by return backer Sevin Rosen Funds. www.luminescent.com
Intelect Medical Inc., a Cleveland-based developer of implantable neuromodulation systems for brain injury recovery, has raised $7 million in Series B funding from Boston Scientific Corp. and Greatbatch Inc. It was founded two years ago as a Cleveland Clinic spinout, and raised $3 million in Series A funding from BIomec Inc. www.intelectmedical.com
The Carlyle Group, Clayton, Dubilier & Rice and Merrill Lynch have priced their secondary sale of 45 million shares of Hertz Global Holdings Inc. (NYSE: HTZ), at $22.25 per share. The $1 billion deal is expected to close Monday, and reduces the firms' combined stake in Hertz from 71.59% to 55.45 percent. www.hertz.com
Versatile Processing Inc., a portfolio company of Dorman Industries LLC and Merit Capital Partners, has acquired Dulin Metals Co., a provider of mill processing, toll management and precious metal representation. No financial terms were disclosed. Dulin Metals was advised on the deal by RSM EquiCo Capital Markets. www.versatileprocessing.com
CDC, a fund-of-funds owned by the UK government, has retained Morgan Stanley to advise it on a possible sale or IPO, according to The Times of London. The report says that an IPO could value CDC as high as
William Price, co-founder of TPG, has joined the advisory board of Presidio Financial Partners, a San Francisco-based wealth management firm. www.presidiofp.com
SonicWall Inc. (Nasdaq: SNWL) has agreed to acquire Aventail Corp., a Seattle