Firms and Funds

(Reuters) – Former Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) Chief Executive Sanford Weill is in talks to launch a private equity fund that would invest in beaten-down financial companies and assets, the Wall Street Journal reported. Weill has in recent weeks reached out to potential investors, including sovereign-wealth funds, outlining his strategy and […]

Invesco is raising up to $500 million for its fifth international private equity fund-of-funds, according to a regulatory filing. www.invesco.com

Baird Capital Partners is raising upwards of $400 million for its fifth fund, according to a regulatory filing. The Milwaukee-based firm closed its fourth fund in 2006 with $300 million. www.rwbaird.com

Most private equity pros believe that if you do right by your LPs today, then they’ll do right by you when it comes time to raise the next fund. It’s a sensible equation, but is also subject to a giant sinkhole: What if there isn’t going to be a next fund? That seems to be […]

The Indiana Public Employees’ Retirement Fund has increased its private equity target allocation from 8% to 10%, according to LBO Wire. The system manages approximately $15.7 billion, and had a 4.2% exposure to private equity as of June 30. www.in.gov/perf

Mid-market buyout firm Stone Arch Capital LLC is nearing a final close on its second fund, peHUB has learned. Peter Grant, a partner with Minneapolis-based Stone Arch, said that the fund has nearly $170 million in capital commitments, and hopes to hold a final close on its $200 million target by year-end. “We’re hopeful right now but […]

Beechbook Capital, an London-based investment firm founded in May 2008, has received a commitment of US$75m to its mezzanine fund Beechbrook Mezzanine I. The cornerstone investment was commited by FRM Capital Advisors (FCA), the hedge fund seeding business of Financial Risk Management. Beechbrook will seek to raise further capital ahead of a second closing of the […]

Opportunities in the distressed debt and special situations sector are such that buyout chief Jon Moulton is considering raising another fund to target the space, just eighteen months after raising a previous vehicle. According to a report in the Financial Times, Moulton, through his private equity firm Alchemy Partners, is considering raising £1bn for distressed […]

A UK buyout fund backed by Kaupthing, the recently-nationalised Icelandic bank, has been taken over by administrators, according to The Daily Telegraph. Administrators Smith & Williamson have appointed per centE Investors as the new fund managers of KCPII Master fund. per CentE will now be in control of the fund’s portfolio of companies which includes a 22% […]

Intermediate Capital Group, a UK-based listed mezzanine and leveraged loan firm, has closed its second Asia-Pacific fund with $1 billion in capital commitments.