North America

Great Hill Partners closes Fund IV on $1.1bn

The Boston-based private equity firm reached its target but reportedly fell shy of its hard cap of $1.25bn.

Tokio Marine trims private equity allocation

The investment advisory wing of Japan’s Tokio Marine & Nichido Fire Insurance cites declining opportunities in the asset class as the main reason for reducing its allocation.

Levant Capital invests $30m in US-based power provider

The funding will help APR Energy scale up its operations in the Gulf region and North Africa.

LaSalle named global PERE firm of year

LaSalle Investment Management has been voted global firm of the year in the 2008 Global PERE Awards. Colony’s Richard Saltzman takes North American industry figure of the year, while Citi Property Investors win European firm of the year. MGPA take a raft of awards for their Asia operations.

LaSalle proceeds with 'caution' in Asia

The Chicago-based fund manager is targeting its $3bn Asia fund mainly in Japan and China. LaSalle, which has invested 20% of the fund, says it is in no hurry to make more investments in 2009.

American Capital asks investors for reverse stock split

The Nasdaq-listed business development company wants to reduce the number of outstanding shares to boost its stock price.

Washington State commits $94m to KKR annex fund

The commitment to KKR E2 Investors will be offset by a $94m reduction in WSIB’s $700m committed to KKR European Fund III. The US pension also committed $150m to TA Associates' 11th fund, reportedly targeting $4bn.

Zell admits $8bn Tribune LBO was 'mistake'

Sam Zell has said he'd been too optimistic about the Chicago-based media company, which in December collapsed under a $13bn debt load. Zell stressed the need to find a new business model for newspapers, likening a potential Tribune merger to asking another company if it wants to 'get vaccinated with a live virus'.

Asian investors back US stem cell company

A consortium led by RimAsia Capital Partners has invested $11m in NeoStem to help the company expand its activities in China. RimAsia's Eric Wei sees 'huge market potential' for stem cell therapies in the country.

Edwards takes over as LaSalle’s core fund chief in Asia

David Edwards, head of research for LaSalle Investment Management in Asia, is to take charge of the firm’s open-ended Asia Property Fund. Kenneth Tsang takes over Edwards’ former role.