Suzanne Weinstock
The technology-focused affiliate of venture firm Accel Partners and mega-buyout firm Kohlberg Kravis Roberts has closed its third fund with commitments from all existing limited partners.
Interim president and chief executive of the Canadian pension manager, Richard Guay, will officially assume the positions he stepped into last May in addition to his responsibilities as chief investment officer.
The middle market specialist has raised $2.3bn from family offices and endowments for its fifth fund, which has more than double the life of a standard fund, demonstrating the firm has the capital 'to put their money where their mouth is and be long-term investors'.
The First Chicago Equity Capital spin-out has acquired the MedSystems business of Ohio-based Cardinal Health. Cardinal last year sold a unit to The Blackstone Group for $3.3bn.
The fund of funds arm of UK insurer Standard Life has held a fourth close for its latest European fundraising effort. The firm is targeting a March 2009 final close less than two years after the close of its €900m predecessor.
TPG, Kohlberg Kravis Roberts and Goldman Sachs have sold a minority stake in the electricity distribution arm of portfolio company Energy Future Holdings, formerly TXU. The sale is the first since the record $45bn buyout closed in October 2007.
The mid-market private equity arm of UK bank Barclays has gained shareholder approval for the €15.50 per share buyout of Munich-based IT distributor Computerlinks.
The Carlyle Group affiliate as well as US Renewables Group and Rustic Canyon Partners have provided $42m in financing to ThermaSource for equipment acquisition and services development. The consortium invested $20m in the company in February.
Publicly listed Brazilian private equity firm GP Investments has begun fundraising for its fifth private equity fund, less than one year after closing the previous fund on $1.3bn. The firm plans to target both public and private investments.
The information technology- and life sciences- focused venture capital firm has closed its 10th fund, with the goal of investing in approximately 60 early-stage US companies.