Firms and Funds

Secondary brokers may be wary of HarbourVest Partners after the firm backed out of a signed deal, but investors aren't. The firm has surpassed its fundraising target on Dover Street VII, a vehicle designed to invest in LP stakes of private equity funds, according to sources familiar with the effort. HarbourVest began raising the fund in May with a $2 billion target, peHUB reported. The firm has secured commitments greater than $2 billion but has not set a final closing date for the fund. The firm has dry powder to invest in a market that has been flooded with

Dan Slack is stepping down as executive director of the Illinois State Universities Retirement System (SURS), in order to become chief executive of the Fire and Police Pension Association of Colorado. The news was first reported by Pensions & Investments. www.fppaco.org

Herkules Capital, a Norwegian firm previously known as Ferd Private Equity, has closed its third fund with NOK 6 billion ($890m) in capital commitments. Limited partners include Argentum, Ferd, Orkla, DnB NOR, Storebrand, Goldman Sachs and Indiana PERF.   PRESS RELEASE Herkules Capital (“Herkules”), the leading Norwegian Private Equity firm, formerly known as Ferd Private […]

(Reuters) – Private equity firm Carlyle Group warned a group of its investors that they were unlikely to see returns on their money soon, the Financial Times said. “You should expect very few distributions from us,” the paper quoted Bill Conway, Carlyle’s co-founder and chief investment officer, as saying during a conference call with more […]

TOKYO (Reuters) – Japanese pension funds plan to increase their investments in alternative assets while reducing domestic equities in their portfolios, to diversify after the subprime shock, JP Morgan Asset Management said on Wednesday. Pension funds also plan to increase allocations of domestic bonds to hedge against the risk of falling share prices, a survey […]

Lindsay Goldberg has raised $4.48 billion for Lindsay Goldberg III LP, according to a regulatory filing. The fund was reported to have a target between $4 billion and $5 billion. Raised with the help of placement agent Park Hill, the $4.48 billion total includes commitments to parallel funds raised with the help of Credit Suisse. […]

Vista Equity Partners has closed its third fund with $1.3 billion in capital commitments. The San Francisco-based firm focuses on mid-market opportunities in the enterprise software market.

SHANGHAI (Reuters) – The investment banking arm of China Construction Bank (601939.SS: Quote, Profile, Research, Stock Buzz) (0939.HK: Quote, Profile, Research, Stock Buzz) plans to launch a 5 billion yuan ($731.3 million) fund to focus on investments in the country’s rapidly growing heathcare sector, state media reported on Tuesday. Hong Kong-based CCB International is leading […]

Goodwin Procter LLP is opening an office in Hong Kong, which will be its first outside of the U.S. It will be led by partners Yash Rana and Brian McDaniel, who represent VC and PE firms that are raising funds and investing in Asian companies.

Lincolnshire Management, a New York-based middle market buyout shop, has blown its target out of the water on fundraising for Lincolnshire Equity Fund IV LP. The firm has raised $835 million, according to a regulatory filing, which does not indicate the fund has closed. The initial target, according to a filing from May 2008, was […]