Private Equity
Fund-raising news about Forbion Capital Partners, Octopus Investments, Barclays Private Equity, Verdane Capital Advisors, Montagu and a successor fund to Italy’s Valiance
4 min read · 01 October 2010
1 min read · 21 September 2010
1 min read · 21 September 2010
Partners Group closed its largest dedicated direct investment program, Partners Group Direct Investments 2009 at its €650 million hard cap. The Zug, Switzerland-based private markets investment manager said the program attracted investors worldwide. Investors include sovereign wealth funds, endowments, corporate and public pension plans, insurance companies, family offices and selected entrepreneurs.
3 min read · 21 September 2010
Third Rock Ventures LLC has raised $426 million for a second fund earmarked for life sciences companies. The firm, which raised a debut fund of $378 million back in 2007, also announced several personnel changes, including the promotion of Alexis Borisy from entrepreneur-in-residence to partner.
3 min read · 13 September 2010
What sort of houses do successful VC and PE execs live in? Really nice ones that are very expensive. An arbitration case sheds light on the lengths Jeff Drazan, the head of Bertram Capital, went to build a house in Woodside, Calif. Drazan co-founded Sierra Ventures and helped it raise eight funds before founding Bertram Capital in 2006. This past February, Drazan and his wife Stacy, had to fork over $5.75 million to Vance Brown Inc., a contractor, in a dispute over construction to the Woodside home, according to a story in The Alamanac. The Drazan’s ended up spending $18 million on the house, which initially was slated to cost $11.3 milllion. The Drazan's made "thousands and thousands and thousands" of alterations when constructing their new home and refused to pay for many of them, says Gregg Dulik, an attorney with Sedgwick, Detert, Moran and Arnold, who represented Vance Brown.
3 min read · 10 September 2010
Clairvest Group Inc. sold Casino Marina del Sol, Latin Gaming Chile S.A. and Latin Gaming Osorno S.A. at original cost to a Chile Holdings for $15.9 million and a 35.6 percent stake in the new holding company. Additionally, Clairvest Equity Partners III LP sold its investment in Casino Marina del Sol to Chile Holdings at cost and received a 40.9 percent in the holding company.
2 min read · 09 September 2010
Sixty-six percent of Canadian respondents expect their industry to contract over the next five years, according to the 2010 Global Venture Capital Survey by Deloitte, Canada's Venture Capital & Private Equity Association and other industry associations. However, a majority of VCs in China, India and Brazil are more optimistic and anticipate growth in the number of venture firms in their countries over the same period.
5 min read · 07 September 2010
Forbion Capital Partners, a Netherlands-based venture capital firm that invests in the life science sector, held the final closings of FCF I Co-Invest Fund and of FCF II. It raised a total of more than €190 million ($240 million). Forbion Capital invests in private companies developing novel drugs, medical devices and diagnostics for high- or even unmet medical needs.
3 min read · 03 September 2010
GI Dynamics signs agreement for Elemental Healthcare to distribute its EndoBarrier Gastrointestinal Liner in England, Wales, Scotland, Northern Ireland and Ireland. GI Dynamics is a Lexington, Mass.-based company that develops endoscopic treatments for type 2 diabetes and obesity. It is backed by Advanced Technology Ventures, Catalyst Health Ventures, Cutlass Capital, Domain Associates, Johnson & Johnson Development Corp., Medtronic Inc., and Polaris Venture Partners.
4 min read · 01 September 2010
