CVC Capital Partners, a Luxembourg-based LBO firm has hired Zhu Wei as a managing director to head its newly opened Beijing office. Zhu was previously a managing director heading Goldman Sach's Shanghai investment banking team. Firm Web site
Advent Venture Partners has hired Mike Chalfen to its technology team. Previously Chalfen was a partner on Apax Partners's European team.
Bank of Ireland Corporate Banking hired Richard Michalik as managing director of US leveraged finance and Pat Laughlin as managing director and head of US health care. The hires hail from National City Bank and ABM Amso/LaSalle bank, respectively. They'll be based in Bank of Ireland's newly opened Chicago office.
Los Angeles Fire and Police Pensions is preparing to commit $20 million to two secondaries funds managed by Landmark Equity Partners and ARCIS Group, according to LBO Wire. Landmark Equity is seeking $2 billion for its U.S. mid-market-focused fund, while ARCIS Group is seeking $550 million for its European vehicle.
Contra Cost County Employees' Retirement System has committed $50 million to funds-of-funds manager Adams Street Partners's 2009 program, according to LBO Wire. Adams Street expects to raise as much as $2.1 billion for the 2009 effort.
San Diego City Employees' Retirement System will allocate approximately $250 million $5 billion in assets to private equity investments.
Longitude Capital, a California-based life sciences venture firm, launched its first fund, Longitude Venture Partners, L.P. The fund raised $325 million, surpassing its $250 million target.
Shuaa Partners, Dubai-based private equity firm, has raised $165 million for a first close on Shuaa Hospitality Fund I. The firm is a subsidiary of Shuaa Capital PSC.
CVC Capital Partners has opened an office in Beijing. The Luxembourg-based LBO firm manages more than $46 billion worth of private equity funds. Firm Web site
Relativity Capital is targeting $300 million for its first fund, slated to close by the end of the year, according to Buyouts. The Washington, D.C.-based firm was founded by vets of Carlyle Group and Cerberus Capital in 2006 and has made two investments. Investors include Michigan 21st Century Investment Fund and the Philadelphia Pension Fund.