North America

Thompson Street closes Fund IV on $640m

The fund beat its $600m hard-cap and will seek investments in founder-led middle market companies in North America in the business services, health care services and engineered products sectors.

Blackstone closes Fund VII on $18bn

The fund exceeded its $17.5bn hard-cap with commitments from more than 250 LPs and $500m from the firm and its employees. It will begin investing in the first quarter of 2016.

TorQuest reaps 5x return on sale of Array Marketing to Carlyle

TorQuest Partners scored a 5x return on total invested capital in the sale of its interest in Array Marketing to Carlyle Group, representing a 61 percent internal rate of return, TorQuest said. Carlyle earlier this week took a majority stake for an undisclosed amount in Array, a Canadian provider of in-store merchandising systems to high-end cosmetic brands.

Oregon to commit to KKR Fund XII

KKR’s 12th flagship fund, KKR Americas Fund XII, will offer management fee waivers to investors committing prior to first close, and fee discounts on large commitments. The Oregon Investment Council is looking to invest up to $500m to the fund.

Mass PRIT sees highest PE return among US pensions

Out of 155 US pension funds, the Massachusetts Pension Reserves Investment Trust Fund generated the highest returns from its private equity investments over a 10-year period, according to a PEGCC annual ranking of pension funds.

Carnelian’s debut fund closes on hard cap

Carnelian Energy Capital closed its inaugural fund on its hard cap of $400m, which will go towards the lower and middle market energy sector.

Bridges hires third partner for US team

Miller will focus on the operational side for the firm in the US.

General Atlantic promotes new MD and three principals

The firm announced new appointments in its London, New York and Mumbai offices.

Constitution Capital hires two associates

John Drago, previously at EY, and Christopher Faucher, previously at McGladrey, join the investment team as associates.

Hamilton Lane sees more volatility ahead

The fund of funds manager expects global growth across all markets in the coming months to be lower and the pressure is on LPs to make sound fund selections, says Hamilton Lane chief investment officer Erik Hirsch.