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China-focused buyout shop Lunar Capital is paying $100 million for a controlling stake in Chinese baby products maker Yeehoo Group Ltd., Reuters reported Wednesday. The company has more than 650 stores across 138 of China's cities, Reuters wrote.

Cambridge, Mass.-based Flagship Ventures has closed its new fund, Flagship Ventures Fund IV L.P., with $270 million in commitments. The firm said it exceeded a $250 million target, and saw participation from pension funds, foundations, fund-of-funds, corporations and individuals. The early-stage investment firm was formed in 2000. It’s previous fund closed in 2007 with $235 million.

Insight Venture Partners has named Richard Wells and Alex Crisses managing directors. Crisses, a 10-year veteran at Insight, previously worked as an analyst at Credit Suisse First Boston. Wells joined Insight in 2005, after working at Technology Crossover Ventures, Veritas Software and Paciolan Systems. Insight is based in New York.

Buyout firm PAI Partners is selling a 25.7% stake in Danish food ingredients maker Chr. Hansen for roughly 560 million euros ($715.56 million), Reuters reported Wednesday. The buyer is Novo A/S.

Founders of private equity firm Carlyle Group have had a great payday as a result of the firm's record performance in 2011 and are set to gain even more as it prepares for an initial public offering, Reuters reported Tuesday. The billionaire founders, William Conway, Daniel D'Aniello and David Rubenstein, received $134 million each in cash distributions and $3.8 million in executive compensation, according to regulatory filings.

ABRY Partners has put an undisclosed amount of financing into NSM Insurance Group. Terms of the deal were not released. NSM Insurance provides development, implementation and underwriting of niche insurance programs.

Seattle-based early stage investor Madrona Venture Group has promoted Scott Jacobson, Len Jordan and Tim Porter to Managing Director. Jacobson joined Madrona in 2007 and serves on the boards of Indochino, Teachstreet, and Yieldex. Jordan joined Madrona in January 2010 and serves on the boards of Cedexis, MaxPoint Interactive and Zapd. Porter joined Madrona in 2006. He is on the boards of Appature, Corensic, Mobilisafe and AppFog. Madrona is currently investing out of its $250 million Fund IV that was raised in 2008.

Bessemer Venture Partners has promoted Abhijeet Muzumdar and Sarah Tavel to vice president. Muzumdar works in the firm’s Mumbai office, and focuses on Internet and technology start-ups and financial services companies. Tavel is based out of Bessemer's Menlo Park, Calif., office and focuses on the software and Internet sectors. She has worked on investments in Pinterest, Metalogix, Yodle and Onestop, among others.

KPS Capital Partners announced Tuesday that it has acquired The Bosch Group’s automotive foundation brakes business: Bosch Foundation Brakes. Terms of the deal were not released. Bosch Foundation Brakes is based in France and makes automotive foundation brakes and foundation brake components.

India's ASK Property Investment Advisors is close to raising 10 billion rupees ($192 million) for a new investment fund, Reuters reported Tuesday. The fund would focus on property projects in five Indian cities, Reuters wrote. ASK has fully invested the first fund, which raised 3.4 billion rupees in 2009.