Firms and Funds

CitySocialising.com raises £260,000

What happens when even your creditor doesn’t want your assets? Troubled fund-of-funds manager HRJ Capital is in the process of finding out. Back in December, it was revealed that HRJ was unable to repay a $68.9 million warehouse loan from Silicon Valley Bank, which has essentially been used to “fund” certain outgoing LP commitments. SVB […]

The secondary market may be stalled until year-end numbers are out, but that hasn’t dampened interest in the asset class. Aside from firms starting new secondary intermediary practices left and right, many of the largest legacy buyers are in the market with new funds. Notably, one (Landmark) is raising a dedicated “secondary-lite” fund. Here’s the latest, according to sources and SEC filings: Landmark Partners (1) The Connecticut-based firm is raising Landmark Equity Partners XIV. The effort has a $2 billion target (a $2.3 billion hard cap, according to an SEC filing). Formed in May of 2008, the fund had gathered $590.15 million in commitments from 37 investors as of

Freeman Spogli & Co., a Los Angeles-based middle-market buyout firm, is raising up to $1.75 billion for its sixth fund, according to a regulatory filing. It already has secured around $250 million in commitments. www.freemanspogli.com

BOSTON (Reuters) – Hedge funds of funds, the middlemen that pension funds and endowments often use to create alternative portfolios, lost roughly one-third of their assets last year, according to new data released on Tuesday. The industry’s largest funds of funds, managing more than $1 billion, now jointly control $744 billion in assets, according to […]

3i, a global private equity firm, is understood to have launched the sale of a number of portfolio interests that could raise between £300m and £400m for the London-listed business. The Wall Street Journal reported that Campbell Lutyens, 3i’s traditional adviser, has contacted key players in the secondaries market regarding a number of European venture […]

NEW YORK (Reuters) – Barclays Plc (BARC.L) agreed on Monday to acquire the Bear Wagner Specialists LLC operations from JPMorgan Chase & Co (JPM.N), a move that will leave the New York Stock Exchange with five designated market makers. The terms were not disclosed by NYSE Euronext (NYX.PA) (NYX.N), which announced the transaction. The Wall […]

Cleantech funds take heed: There is new money in the market. Boston-based HarbourVest Partners is launching a cleantech fund-of-funds. The vehicle currently is in the market with a target of around $150 million, a source familiar with the situation told peHUB. HarbourVest has held at least one close on $95.5 million in commitments and has […]

News of a potential wind-down from UK buyout firm Candover raises the question of what exactly that situation would entail. A run-off means the firm won’t raise new funds and basically manage its existing companies till they can be sold. Clearly it’s difficult to retain talent at a firm with no prospects of raising a new fund. In today’s job market, that may be less the case, but it hasn’t been at smaller firms like J.W. Childs and Willis Stein. Both firms, which haven’t shown much evidence of future fundraising efforts, have seen top talent exit. So if Candover begins losing managers, it would seem to follow that the best move is to sell off as many of the companies as possible. It’s all very hypothetical at this point, but is Candover’s portfolio up for grabs? Would there be buyers for the companies? Take a look at exactly what those funds include below.

Southampton-based company receives VC backing