The Carlyle Group and MHI Hospitality Corp. (AMEX: MDH) have entered into a joint venture to source, underwrite, acquire, develop and operate hotel assets and/or hotel portfolios.Carlyle has committed up to $100 million in equity capital, while Perseus Realty Capital acted as agent and arranger. Under terms of the agreement, MHI will identify potential investment […]
The Indiana Public Employees' Retirement Fund has made the following fund commitments: $50 million to Silver Lake Partners III, $20 million to Technology Partners Fund VIII, $8.5 million to Horsley Bridge Growth VII, $50 million to Lehman Brothers Fund XVIII, and $30 million to Oaktree Capital Management Opportunities Fund VII. www.in.gov/perf
Andrew Braccia has joined Accel Partners, as first reported yesterday by VentureBeat. He previously was with Yahoo as vice president of consumer web search. www.accel.com
Mohan Kharbanda has joined Baird Venture Partners' business services team as an entrepreneur-in-residence. He previously was a vice president with Apple Computer, where he led a team focused on establishing offshore operations in India and Eastern Europe. www.bairdprivateequity.com
Citigroup executives are said to fear the possibility that hedge funds may call for the break-up of the group. Observers have dismissed the reports that say that hedge funds could push for the break-up of the bank, valued at $260 billion, in a similar scenario to those that pushed for the fragmentation of Dutch bank […]
RoyaltyShare, a San Diego-based provider of digital royalty solutions to the entertainment industry, has raised $5 million in Series B funding led by Trident Capital. RoyaltyShare also said that it is in discussions with potential strategic investors, and may raise additional funds as part of the round. www.royaltyshare.com
ReVision Optics Inc., a Lake Forest, Calif.-based maker of implantable products to correct and maintain vision, has raised $25 million in Series D funding. Domain Associates led the deal, and was joined by return backers Canaan Partners and InterWest Partners. ReVision previously had raised around $15 million since 2004. www.revisionoptics.com
Neocleus Inc., an Israel-based developer of online access security management solutions, has raised $5 million in first-round funding. Battery Ventures and Gemini Israel Funds co-led the deal, which was first reported by Globes Online. Battery and Gemini participated in a $700,000 seed round for Neocleus last year. www.neocleus.com
Nataxis and White Mountains Insurance Group Ltd. have formed Pentelia Capital Management, a Bermuda-based asset management company focused on the insurance risk securitization market. PCM's initial fund is capitalized with $600 million, and will invest in a diversified portfolio of life and non-life insurance-linked assets, including adverse mortality bonds, weather derivatives, terrorism insurance, life settlements, […]
Yahoo Inc. has acquired Right Media Inc., a New York-based online advertising marketplace, for $680 million in stock and cash. Yahoo had originally acquired a 20% ownership in Right Media, by leading a $45 million Series B round last fall that also included existing Right Media shareholder Redpoint Ventures. www.yahoo.com www.rightmedia.com