Novak Biddle Venture Partners has closed its fifth fund with $227 million in capital commitments. Returning limited partners include Common Fund, FLAG Venture Partners, Verizon, ATP Private Equity Partners, Howard Hughes Medical Institute, Indiana University, Northern Trust, Notre Dame, Park Street, Silicon Valley Bank, the State Retirement Plans of Virginia and North Carolina, University of […]
HSBC reportedly is considering a re-launch of its direct private equity business, according to Private Equity Online. The bank spun out Montagu Private Equity three years ago.
Ethos Private Equity of South Africa has closed its fifth fund with around $750 million in capital commitments. www.ethos.org.za
Morgan Stanley has agreed to acquire a minority stake in hedge fund manager Avenue Capital Group. No financial terms were disclosed, but Bloomberg reports that Morgan Stanley paid around $280 million for just under 20% of Avenue, which has $12 billion in assets.
Morgan Keegan of Memphis, Tenn. is raising a $50 million private equity fund-of-fund, according to a regulatory filing. www.morgankeegan.com
Novak Biddle Venture Partners has promoted four professionals to general partner: Philip Bronner, Andrea Kaufman, Tom Scholl and CFO Joy Binford. The firm also hired Janet Yang as a principal. She previously worked with a China-based IT company and San Francisco-based VC firm Draper Richards. www.novakbiddle.com
Names of those working on Highland Capital's retail fund — being run by Tom Stemberg — continue to trickle out. On Friday it was Ted Phillip, and today it's former Staples exec Todd Krasnow (who will help on a part-time basis).
NovImmune SA, a Geneva, Switzerland-based drug company focused on immune-related diseases, inflammation and organ transplantation, has raised CHF 58 million (approx. $46m) in Series B funding. BZ Bank and several of its clients led the deal, and was joined by Pictet Private Equity and return backers Lombard Odier Darier Hentsch, Novartis Venture Fund and Aravis […]
3V Transaction Services Ltd., a UK
Medecision Inc., a Wayne, Pa.-based provider of medical management solutions to healthcare payers and regional health information organizations, has set its proposed IPO terms to 5.5 million common shares being offered at between $14 and $16 per share. It plans to trade on the Nasdaq under ticker symbol MEDE, with Cowen & Co. and Wachovia […]