InterWest Partners

The Menlo Park, California-based IT and life sciences early-stage investor has announced the launch of its ninth fund, which closed in less than two months.

The pension has to ask funds it invested in before 2017 if it can make their fees and expenses public, and almost half said no.

The San Francisco-based private equity firm is acquiring engagement marketing software provider Marketo for $1.79bn out of Vista Equity Partners Fund VI, which is targeting $8bn.

The Boston-based venture firm has bolstered its Silicon Valley office with the appointment of Victor Westerlind as a general partner. RockPort closed its third cleantech fund last June on $453m, slightly above its hard cap.

The US pension has made commitments to private equity and real estate funds including $79m to Charterhouse Capital’s ninth European buyout fund and $9 million to a sidecar vehicle associated with Battery Ventures’ eighth fund.

Four private equity firms will sell computer component maker Sierra Logic—which received just $5.25 million in first-round financing four years ago—to high-tech manufacturer Emulex in a deal reportedly valued at $180m.

Abbott Capital Management held an $805m close on its fifth private equity fund of funds, surpassing a $750m target.

Venture capitalists last year raised 170 funds totalling $17.6bn, $3.4bn more than the previous two years combined, while buyout and mezzanine funds attracted $45.8bn in 103 funds.