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Darwin Ventures Adds Jay Bhatti, Zach Heilman

San Francisco-based Darwin Ventures has named Jay Bhatti to the post of general partner, and added Zach Heilman as lead engineering manager. Bhatti previously co-founded people search engine Spock.com. Heilman was previously the lead front-end engineer at Spock.com. Heilman and Bhatti will be based in New York City.

Harrah’s Files For $500M IPO

Harrah’s Entertainment, which is owned by private equity firms TPG Capital and Apollo Management, will raise about $500 million in an initial public offering, Reuters reported. The company plans to sell 31.25 million shares, or 9.3% of the company, at $15 to $17 each. The company will also change its name to Caesars Entertainment.

GT Solar Pays $203M To Buy Back Shares From PE Firms

Publicly traded GT Solar International said that it will pay $203 million to buy back 26.5 million shares held by its private equity investors, which include Oaktree Capital Management. The company will pay $7.66 per share, a 13% discount to the company’s close on Friday. Following the close of the deal, Oaktree Capital will own about 9.4 percent stake in the company.

Avon Sells Japanese Business to TPG Capital in $90M Deal

Avon Products will sell its Avon Japan business to private equity firm TPG Capital for 7.3 billion yen ($90 million) in cash. Avon currently owns 74.67% of the Japan business unit, and TPG plans to launch a tender offer in Japan for all outstanding shares of Avon Japan. Avon Japan represents less than 2% of New York-based Avon’s total sales, the company said.

Infinity Group Raises $33 Million For Life Science Fund

Tel Aviv-based Infinity Group has raised $33 million for a China-focused life science fund. The firm launched its fund – Tianjin Israel Life Science Fund – with Chinese investors Tianjin Venture Capital, Tianjin Economic and Technological Development Zone, Tianjin Mingxuan Investment and Tianjin Tianying Venture Capital Management.

Tesco, Dairy Farm Enter Race For Carrefour Asian Assets

Britain's Tesco and Singapore's Dairy Farm have put in second-round bids for the Southeast Asian assets of French retailer Carrefour, Reuters reported. The supermarket operator is selling its businesses in Malaysia, Singapore and Thailand. Reuters previously reported that private equity fund Navis Capital and Japanese retailer Aeon would bid for some of the assets.

Ashland Will Sell Business Unit For $930 Million

Chemical company Ashland said it would sell its distribution business to TPG Capital for $930 million, Reuters reported. The unit - which distributes chemicals, plastics, and other materials across North America and Europe - accounted for more than 38% of Ashland’s fourth quarter revenue. The company is selling the business unit, however, as it shifts its focus to higher-margin specialty chemicals, Reuters reported. Ashland is based in Covington, Kentucky.

VC-backed Vascular Pathways Names Eugene Starr CEO

Medical device maker Vascular Pathways, which recently inked $14 million in venture capital, has named Eugene Starr president and chief executive. Starr worked previously as chief executive of medical device company Venetec International, and earlier as president of Conmed’s electrosurgery division. Vascular Pathways also announced that it would move its company headquarters to Naples, Fla. The company is backed by CHL Medical Partners, Ascension Health Ventures, MVM Life Science Partners and Arcus Ventures.

Doughty Hanson Pays $725.6M For British Cinema Chain

Buyout shop Doughty Hanson plans to buy Britain’s Vue Entertainment for 450 million pounds ($725.6 million), Reuters reported, citing an article in Monday’s Financial Times. The founders of Vue Entertainment – which runs Britain’s largest cinema chain – own 51% of the company. Private equity firm Coller Capital and New York-based hedge fund Och-Ziff own the remaining shares, which they both plan to sell to London-based Doughty Hanson, Reuters reported.

As Valuations Rise, China Private Equity Executives Retire

Amid increased competition and rising valuations, some executives in China’s private equity market are stepping out of the game. Benjamin Cheng, a China partner with London-based private equity shop Actis, will retire after seven years at the firm, Reuters reported. Cheng’s retirement comes shortly after the Financial Times reported that two of the three founders of Beijing-based Hopu Investments planned to retire as the firm winds down investments, Reuters said.