PE Week Wire — 7/11/06

The Blackstone Group has closed its fifth general fund with $15.6 billion in capital commitments. It is the largest private equity fund ever raised, and it already has committed to deals like VNU, Michaels Stores, Cendant's Travelport unit, Encore Medical Corp., Center Parcs, Emcure Pharmaceuticals Ltd. and Deutsche Telekom. Blackstone affiliate Park Hill Group assisted in the fund-raising.

Synta Pharmaceuticals Corp., a Lexington, Mass.-based small-molecule drug company, has raised $40 million in fifth-round funding. A regulatory filing refers to the securities as Series A convertible preferred stock, with Caxton Corp. and Luxor Capital Partners listed as significant shareholders. SunAmerica Ventures also participated. Synta has raised over $230 million in total VC funding since its 2001 inception.

Intelsat Ltd. has completed its acquisition of fellow satellite company PanAmSat Holdings Corp. The deal was originally announced last year, and was valued at $6.4 billion (including assumed and refinanced debt). Intelsat had been acquired in a $5 billion going-private transaction in early 2005 by Apax Partners, Apollo Management, Madison Dearborn Partners and Permira. PanAmSat priced a $900 million IPO in March 2005 at $18 per share, with significant shareholders including Kohlberg Kravis Roberts & Co., The Carlyle Group and Providence Equity Partners.

    VC Deals

Add Life Medical Institute Ltd. (a.k.a. Sterling), a Gujarat, India-based hospital group, has raised $15.5 million in growth capital funding from Actis.

CallMiner, a Cape Coral, Fla.