Summer Street Capital Partners has closed its second fund with $197 million in capital commitments. The Buffalo, N.Y.-based firm focuses on small-market buyout and growth equity opportunities. Champlain Advisors served as fund placement agent. www.summerstreetcapital.com
Orlando Italy, a Milan-based private equity firm focused on special situations opportunities, has closed its inaugural fund with Euro 180 million in capital commitments. MVision Private Equity Advisers served as fund placement agent. www.orlandofund.com
Morgan Stanley is considering a sale of its South Korean asset management unit, according to Reuters. The deal could be worth up to $220 million, with possible bidders including ING Group. www.morganstanley.com
Akin Gump Strauss Hauer & Feld has hired two private equity/investment fund attorneys in its Dubai office. They are: Chris Sioufi, partner, who previously was general counsel and chief compliance officer of Bahrain-based Unicorn Investment Bank; and Samer Amro, senior associate, who previously worked at a different Dubai-based law firm. www.akingump.com
LumaSense Technologies Inc., a Santa Clara, Calif.
Bill Ringo has joined Sofinnova Ventures as an executive-in-residence, focused on the life sciences market. He is the former president and CEO of Abgenix Inc., which was sold to Amgen last year for $2.7 billion. www.sofinnova.com
VideoNEXT Network Solutions Inc., a Chantilly, Va.-based provider of video security management solutions, has raised $5.4 million in Series B funding. Delta Private Equity Partners led the deal, and was joined by return backers Newlight Associates and Longstreet Partners. www.videonext.com
Avid Radiopharmaceuticals Inc., a Philadelphia-based molecular imaging company, has raised $26 million in Series C funding. Safeguard Scienfitics and AllianceBernstein co-led the deal, and were joined by BioAdvance, Lilly Ventures, Pfizer and RK Venture Group. The company previously had raised around $9.4 million in total VC funding. www.avidrp.com
Kinaxo Biotechnologies, a German provider of selectivity profiles to drug and biotech companies, has raised an undisclosed amount of first-round venture funding. Mountain Partners AG and KfW co-led the deal, and were joined by seed backers High-Tech Gr
Asmacure, a Quebec City-based pharma startup focused on asthma, has raised US$9 million in Series A funding. Participants included Domain Associates, Fonds Bio-Innovation and Qu