Fundraising

Troubled insurance broker Marsh & McLennan announced its MMC Capital private equity unit is to become independent.

Morgan Stanley Alternative Investment Partners’ second vehicle will make commitments to US and European buyout, global venture and special situation partnerships.

Atlanta-based Roark Capital enters the institutional private equity world with its first fund, raising $413m in just six months.

Index Ventures is the latest European VC investor to raise a new vehicle, closing its fourth fund on €300m.

Baring Vostok Private Equity Fund III has closed ahead of an original $350 million target and will invest in businesses in Russia, Ukraine and the former Soviet Union.

The Chicago private equity firm has closed its fifth buyout fund on $1.3bn, completing its fundraising in approximately six months.

The midmarket buyout firm has closed its oversubscribed fifth global private equity fund with commitments from 86 international investors.

The Paris-based firm has announced a final close of €500 million for its AXA LBO Fund III.

The venture capital arm of Finnish mobile phone manufacturer Nokia has changed its name to BlueRun Ventures and announced a first close of its third venture fund on $350m.

46-year-old former Benchmark Capital executive Eric Archambeau has joined the Munich-based VC as a general partner.