Fundraising

The US investment firm has purchased €35m of Abbey National’s existing LP interest in Hutton Collins’ debut mezzanine fund, as well as making an additional €40m commitment - taking the firm’s fundraising to €200m.

Noble Fund Management’s Noble Venture Finance I Limited Partnership fund will provide asset-backed finance to growth companies throughout the EU.

The Polish private equity firm has held a first close of its €300 million fifth fund, securing commitments from pension funds, insurance companies and financial institutions in the US and Western Europe.

The New York- and Cleveland, Ohio-based middle-market specialist beat its original fundraising target set in June 2003, raising almost double the capital of its previous fund.

After only four months of fundraising, the Palo Alto firm surpasses its original mark with its fifth fund, which will target venture capital investments in expansion, late-stage private and public technology companies.

Argantis, a new fund aiming to take advantage of opportunities in Germany’s Mittelstand, has announced a first closing of €100 million.

Non-US investors, and an emphasis on operations and succession planning lead to fundraising success.

Hungarian private equity firm Euroventures Capital has achieved a €31 million first closing of its new fund, Euroventures Hungary III Limited Partnership.

Figures published for Asian private equity activity in 2003 reveal that a record $17.5bn was invested while fundraising was up eleven percent at $3bn.

Cambridge, Massachusetts venture firm General Catalyst Partners has closed a fund, its second institutional investment vehicle.