Patria Investimentos SA, which is partly owned by the Blackstone Group, has been out fundraising for its fourth fund which is red hot, sources say. The pool, Patria Private Equity Fund IV LP, recently hit a first close, three persons say. Two sources say the size of the pool ranges from $1 billion to $1.25 billion. In April, peHUB reported that the fund was pegged at $900 million but could easily smash that target.
The Ontario Teachers' Pension Plan is planning to increase its majority stakes in two Chilean water utilities: Essbio S.A. and Esval S.A., Reuters reported. The government is auctioning off its stakes in both utilities. Following the auction, the government will hold 5% of each. Teachers' currently owns about 51.1% of Essbio and 69.8% of Esval, Reuters wrote.
Ayelet Investments has acquired publicly traded Conmed Healthcare Management, a provider of correctional facility healthcare services, for $3.85 per share in cash, or approximately $57.2 million. Financing for the deal comes from Ayelet and from Los Angeles-based private equity firm Levine Leichtman Capital Partners. The deal is expected to close during the third quarter.
Citrix Systems has acquired of Cloud.com, a venture-backed maker of software infrastructure platforms for cloud providers. Terms of the deal were not released. Cloud.com provides a cloud computing infrastructure similar to Amazon's EC2 web service. By scooping up the company, Citrix will offer its users the ability to run cloud-computing software more easily, and to move more tasks to the data center. Cloud.com previously raised more than $11 million in venture capital from investors Index Ventures, Redpoint Ventures and Nexus Venture Partners.
(Reuters) – When people worry about valuations, Eric Schmidt likes to remind them about Google Inc. The Internet search provider made its stock debut in 2004 at $85 a share, a price tag many at the time thought outlandish. Seven years on, that number has swelled to north of $500 and Google is the fourth-largest […]
Universum Development has acquired career networking platform Doostang, the company announced Tuesday. Doostang, based in Palo Alto, Calif., had raised venture funding from Shasta Ventures and Tugboat Ventures and individual investors. Formed in 2005, the company targets young business professionals and has about 900,000 members, it says. Terms of the deal were not released.
Weld North Holdings, a partnership between former Kaplan Chief Jonathan Grayer and buyout shop Kohlberg Kravis Roberts & Co., has closed its first deal: the acquisition of e-learning company e2020 Inc. Terms of the deal were not released. Sari Factor, managing director for education at Weld North, will become CEO of e2020, the firm said. The company, formed in 1998, provides online courses for K-12 students through a software-as-a-service model. The courses can be used for anything from advanced placement to so-called “credit recovery,” to help students who have fallen behind with course credits.
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Olympus Capital Holdings Asia, a middle market private equity firm, is leading a group of investors paying $45 million for a “sizable minority stake” in China's Huaxia Dairy Farm Ltd., Reuters reported. The firm will put $30 million into the dairy producer, with European dairy company Mueller Milch Management investing $10 million. Existing shareholders in Huaxia Dairy will supply another $5 million. The company, which runs own of China’s largest dairy farms, will use the money for general working capital and expansion, Reuters wrote.
Gordon "Rusty" Johnson has joined Rodman & Renshaw Capital Group, a unit of Rodman & Renshaw, as an MD in healthcare investment banking. Johnson was most recently an MD of healthcare investment banking at Piper Jaffray.