Firms and Funds

The Carlyle Group is raising up to $75 million for its fourth Latin American real estate fund, according to a regulatory filing. It already has secured around $10 million. www.carlyle.com

Tudor Capital, the private equity affiliate of energy-focused bank Tudor, Pickering, Holt & Co., is raising up to $250 million for a new fund, according to a regulatory filing. It already has secured over $50 million in capital commitments. www.tudorpickering.com

Vision Capital has closed its seventh fund with €680m of capital, suggesting that investors believe that 2009 will kick off a boom in the private equity secondaries market. Vision Capital Partners VII raised almost twice as much money as the firm’s sixth vehicle, which closed in 2006. The fund acquires mature positions in private equity […]

The $154 billion New York State Common Retirement Fund has concluded its long search for managers of its private equity emerging manager program. The state plans to allocate $350 million to Parish Capital Advisors, $250 million of which will be for co-investment opportunities and $100 million for fund investments. Bank of America’s Banc of America […]

NEW YORK (Reuters) – The economy could be facing a very tough two year road ahead, a senior adviser at buyout giant Kohlberg Kravis Roberts & Co said on Friday, adding that KKR would probably hang onto its portfolio companies for a year more than the seven year average due to the credit crisis. George […]

LONDON (Reuters) – Henderson Group (HGGH.L) scooped rivals to buy New Star Asset Management (NSAM.L) as New Star’s creditor banks sought a quick-fire deal and stomached a more than 100 million pound loss on loans to the business. Henderson would become the UK’s fifth-largest retail asset manager after the deal, and its shares rose more […]

Conventional wisdom says that the so-called “sin stocks” are counter-cyclical: When times get tough, people turn to vices like smoking, booze and porn. I’m skeptical of that theory, but plenty believe it wholeheartedly. There are PE firms that invest in alcohol, gaming, casino companies–there’s even a wine-focused mezzanine fund–but rarely do you see a firm […]

(Reuters) – Financial buy-out firm Resolution (RSL.L) skipped dividends after posting a 700,000 pound ($987,700) loss for the last quarter of 2008, but said it would continue to acquire businesses. The loss for the period from Oct. 9 to Dec. 31 related to initial operating expenses, Resolution said, after it raised 660 million pounds in […]

3i Infrastructure Plc (3IN.L), one of the funds vying to buy Gatwick airport, said on Friday it was well-placed to make new investments, and had bought more junior debt since Oct 1. 3i Infrastructure also said Cressida Hogg had been appointed managing partner of infrastructure at 3i Group Plc (III.L), the British private equity firm […]

Last year, buyout and mezzanine funds officially raised $264.512 billion, according to the most recent Buyouts data. But how much of that went to emerging managers raising a first-time fund? So I sliced down the 2008 fundraising spreadsheet to show just the first-time funds. It’s a bit of a rough cut, but I’ve determined that, […]