Blackstone’s Strategic Partners racks up $11.1 bln for eighth secondary fund


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Strategic Partners, Blackstone’s secondary private equity platform, closed its eighth fund on more than $11.1 billion.

Strategic Partners VIII L.P.’s investors include pension funds, sovereign wealth funds, financial institutions, endowments, foundations, family offices and high-net worth individuals from over 30 countries.

In January 2017, Strategic Partners closed its seventh fund on $7.5 billion, generating an IRR since inception of 53.80 percent as of September 30, according to California State Teachers’ Retirement System.

Strategic Partners has raised over $43 billion since 2000, Blackstone said.

 

WILsquare Capital raises $190 mln for second fund


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St. Louis-based WILsquare Capital, a private equity firm focused on acquiring lower-middle market businesses in the Midwest and Southern U.S., closed its oversubscribed second fund at $190 million, beating its $150 million target. The fund’s investors included endowments, foundations, fund of funds and family offices. Winston & Strawn LLP provided legal counsel to WILsquare Capital on the fund.

PRESS RELEASE

ST. LOUIS–(BUSINESS WIRE)–WILsquare Capital, a lower-middle market private equity firm, announced today that it held a final close on WILsquare Capital Partners Fund II, L.P. at $190 million. The fund’s $150 million target was significantly oversubscribed within three months of fundraising.

Managing Partner Bill Willhite commented, “We are pleased with the quick response received from investors, which we believe is indicative of the quality investments and strategies deployed since we began WILsquare Capital. Fund II received significant support from existing Fund I investors and includes a substantial

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Research Bridge Partners launch seed fund


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Research Bridge Partners has launched a seed fund that will invest in university spinouts. The target was not specified.

PRESS RELEASE

AUSTIN, Texas, July 16, 2019 /PRNewswire/ — Research Bridge Partners—a not-for-profit that enhances the societal and economic returns on America’s investment in research universities by bridging mid-continent university innovators and commercialization resources nationally—has launched a program-related investment (PRI) seed fund to invest in promising university spinouts.

Over the past five years, 75 percent of federal research funding has gone to institutions outside of California, Massachusetts and New York, while nearly 80 percent of venture investment went to companies located in those three states.

“Silicon Valley’s unique capabilities and culture are a powerful engine for new company creation and scaling, but it’s essential that the benefits of that engine not accrue only a handful of zip codes. That’s why I’m excited to work with Research Bridge Partners to enable researchers

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Bow River closes software growth equity fund at $160 mn


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Bow River Capital has raised $160 million for its software growth equity fund. The fund will seek to make equity investments between $5 million and $15 million. Perkins Coie LLP provided fund formation counsel.

PRESS RELEASE

DENVER, July 15, 2019 /PRNewswire/ — Bow River Capital (“Bow River”), announces the closing of its Bow River Capital 2019 Software Growth Equity Fund above its target and was oversubscribed. The strategy of the fund will provide first institutional capital and closely partner with management teams to drive transformational market positioning and growth in two core industry verticals: Software as a Service (SaaS) and technology-enabled business information services.
Bow River received strong support from numerous seasoned industry executives, CEOs, and technology founders who invested in the fund, along with its loyal investor base. The team of investment professionals has deep domain expertise scaling software companies, and will seek to make equity investments between $5

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Palladium closes $1.56 bln for fifth fund


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New York City-based Palladium Equity Partners LLC, a middle-market private equity firm, has raised $1.56 billion for its fifth fund.

Palladium Equity Partners V LP’s investors include corporate and public pension plans, family offices, funds of funds and insurance companies. Simpson Thacher advised Palladium in PEP V’s formation and fundraising.

So far, the fund has made undisclosed investments in three companies: Spice World, a supplier of garlic and other spices under the Spice World brand; Kymera International, a global specialty materials company; and Quirch Foods, a distributor and exporter of protein and U.S.-based Hispanic food products.

In April 2014, Palladium closed its fourth fund at $1.14 billion, generating an IRR of 15.30 percent, according to the California State Teachers’ Retirement System, as of Sept. 30, 2018.

Founded in 1997, Palladium is currently managing more than $3 billion in assets.

Carlyle raises $2.2 bln for global infrastructure opportunity fund


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The Carlyle Group has closed its global infrastructure opportunity fund at $2.2 billion. Carlyle Global Infrastructure Opportunity Fund invests in infrastructure assets in OECD countries.

PRESS RELEASE

WASHINGTON, DC – Global investment firm The Carlyle Group (NASDAQ: CG) today announced the final close of the Carlyle Global Infrastructure Opportunity Fund (‘CGI’), a $2.2 billion fund that invests in infrastructure assets in OECD countries. It focuses predominantly on projects in transport and logistics, energy and power infrastructure and water and agriculture infrastructure.

CGI has closed or announced several projects in the United States, including:
Terminal One at New York’s JFK Airport,
Lone Star Ports Harbor Island Crude Export Terminal, designed to be the first U.S. onshore export terminal to service fully-laden Very Large Crude Carriers, located in Texas, and
Crimson Midstream Holdings, a provider of crude oil transportation and storage services in California, Louisiana and offshore Gulf of

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YL Ventures raises $120 mln for fourth fund


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Silicon Valley-based YL Ventures has closed its fourth fund at $120 million. YL Ventures invests in Israeli cybersecurity startups.

PRESS RELEASE

SAN FRANCISCO & TEL AVIV, Israel–(BUSINESS WIRE)–YL Ventures, the Silicon Valley venture capital firm specializing in seed-stage investing in Israeli cybersecurity startups, today announced it has closed its fourth fund with $120 million of committed capital. YLV IV was significantly oversubscribed, and closed with a combination of current YLV investors and select new ones. Fund IV brings the total capital under YLV management to $260 million.

The YLV IV strategy will be consistent with that of previous funds, aiming to build a concentrated portfolio of top-tier seed stage cybersecurity companies out of Israel. Generally investing in only 2-3 teams each year, YLV IV will target a total of 10 companies, allowing the firm to maintain its dedication to true value-add investing. YL Ventures leads seed investment rounds with multimillion

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Great Hill raises $2.5 bln for seventh buyout fund


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Boston-based Great Hill Partners, a private equity firm, has closed its seventh oversubscribed buyout fund at a hard cap of $2.5 billion, beating its $2 billion target.

Great Hill Equity Partners VII started fundraising this past February.

The fund will target growing middle-market companies. Its investors include public and private pensions, sovereign wealth funds, endowments and foundations, insurance companies, healthcare systems, institutional fund managers, family offices and high-net worth individuals.

In February 2017, Great Hill raised $1.5 billion for its sixth private equity fund, beating its $1.25 billion target. No performance data was available on the fund.

Latham & Watkins LLP advised Great Hill on the fund formation.

According to the firm, Great Hill has raised $7.7 billion in commitments since its inception.

Maniv Mobility racks up $100 mln for second fund: Reuters


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Maniv Mobility, an Israeli venture firm focused on mobility tech, has raised $100 million for its second fund, reported Reuters. The investors in Maniv’s fund include Alliance Ventures, the strategic venture capital arm of Renault-Nissan-Mitsubishi, Aptiv, BMW i Ventures, Hyundai Motor Group, Lear Corp, LG Electronics, Shell Ventures and Valeo.

 

YPF Ventures launches


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YPF, a Latin American energy company, has launched YPF Ventures, a corporate venture fund. So far, YPF Ventures has made undisclosed investments in Sustentator, an Argentine distributed solar generation company and Bird Technologies, a provider of urban micro-mobility. Managing Director Tomas Ocampo is leading YPF Ventures.

PRESS RELEASE

SAN FRANCISCO, July 8, 2019 /PRNewswire/ — YPF today announced the launch of YPF Ventures, a corporate venture capital fund that will expand YPF’s influence into emerging energy businesses. YPF is one of Latin America’s largest energy companies with $15B in revenue and 21 thousand employees.

YPF Ventures is distinct from other corporate energy venture funds in that it combines a typical early stage venture capital fund with a growth equity vehicle. This second vehicle helps innovative energy companies in the US expand into Latin America by leveraging YPF’s role as an energy leader with a significant retail footprint

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Prospect Hill wraps up sophomore fund at $380 mln


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Prospect Hill Growth Partners has closed its second fund at $380 million, beating its $300 million target. Investors in the Prospect Hill Growth Fund II LP include public and corporate pension funds, insurance companies, financial institutions and family offices. Proskauer Rose LLP served as fund counsel while Asante Capital Group LLC was global fundraising adviser.

PRESS RELEASE

WALTHAM, Mass.–(BUSINESS WIRE)–Prospect Hill Growth Partners (“Prospect Hill”) announced the closing of Prospect Hill Growth Fund II, L.P. (“PHG II”) with total commitments of $380 million exceeding the $300 million target and the prior Prospect Hill fund. Investors committed to Prospect Hill’s new fund include public and corporate pension funds, insurance companies, financial institutions and family offices, and are represented across major global investor markets with 54% from the U.S., 31% from Canada, and 15% from Europe.

PHG II expects to make control equity investments of between $25 million

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