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Palo Alto, Calif.-based Technology Crossover Ventures has promoted David Yuan to the post of general partner. Yuan was previously a principal at the firm. He joined Technology Crossover in 2005, and focuses on software, Internet and information services investments. Yuan worked previously at JPMorgan Partners. Formed in 1995, Technology Crossover has $7.7 billion in capital under management.

Australian property firm Lend Lease has launched a 220 million pound ($345.9 million) fund to invest in healthcare, education and accommodation projects across the U.K., Reuters reported.

Buyout shop Kohlberg Kravis Roberts & Co. may increase its $1.7 billion bid for Australian fund manager Perpetual, Reuters reported, adding that the firm had recently received new financial data on the company. Any increase would be small, and “well below 10%,” Reuters said.

Beverage company Diageco is in early talks to buy Turkish spirits company Mey Icki, Reuters reported. The value of the deal could reach as high as $2.5 billion, Reuters said. Mey Icki is owned by private equity firm TPG Capital, which had been exploring an initial public offering for the company. An acquisition could provide an alternative to the IPO. The private equity firm bought Mey Icki for about $800 million in 2006, Reuters said.

Bain Capital, CVC Capital Partners, and financial firm Orix Corp. have been short-listed as bidders for Japanese supermarket chain Seijo Ishii Ltd, Reuters reported. The company, which has been valued at roughly 30 billion yen ($358 million), is owned by buyout shop Advantage Partners. Final bids are due early next year, Reuters said.

A consortium of private equity firms is the preferred bidder for Nigeria’s Afribank, Reuters reported. Names of the buyout shops were not released, though Reuters said Fidelity Bank was the reserve bidder. Afribank was one of nine lenders rescued in a $4 billion bailout last year, Reuters said.

Stonington Partners plans to exit its 17.6% stake in for-profit education company Lincoln Educational Services, selling the 3.9 million shares it holds in the company, Reuters reported. West Orange, New Jersey-based Lincoln said it would not be receiving any proceeds from the sale, Reuters said.

Private equity firm Roark Capital Group will buy nutrition company Atkins Nutritionals Holdings, the company behind the popular low-carbohydrate diet program, for an undisclosed amount. No terms of the deal were released. Roark is buying the company from North Castle Partners, a private equity shop specializing on health-focused consumer companies. Atkins was formed in 1989, and is based in Denver, Colo. Roark Capital is based in Atlanta.

Chinese baby products retailer Red Baby, and Chinese financial guarantee company Uni-Power are both planning for initial public offerings next year, Reuters reported. Both are backed by U.S. venture capital firm New Enterprise Associates. NEA, which manages more than $11 billion, has poured nearly $300 million in more than 20 Chinese companies, Reuters said. The firm expects as many as three of those companies to go public in the next year.

Private equity firms are moving into east Africa, Reuters reports, with 26 private equity and venture capital firms actively working in the region. One firm, Catalyst Principal Partners, will launch a $100 million east Africa fund in January, focusing on opportunities in Kenya, Uganda, Tanzania, Rwanda, Democratic Republic of Congo, Ethiopia and Zambia. The firm will invest in the consumer, services and industrial sectors, Reuters said.