Ken MacFadyen

Connecticut-based Portfolio Advisors wrapped up its third fund of funds, bringing in $661 million in commitments for a vehicle that lets LPs ‘customise’.

As more and more generalist firms target its space, San Francisco’s Energy Investors Funds strengthened its toehold in the power sector, closing on $750 million for its latest fund.

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

The Gores Group completed its purchase of Avure Technologies, acquiring the maker of high pressure presses from Flow International in a $15.3 million deal.

Former US vice presidential candidate Nat Goldhaber has raised $125m for the debut fund from Claremont Creek Ventures. Harvard Management and the Regents of the University of California are among the fund’s backers.

New York-based Castle Harlan has appointed Gary Appel as its new vice chairman. Appel is part of the DLJ fraternity and had previously worked alongside John Castle for a roughly eight-year span.

JF Lehman & Co. and Norwest Equity Partners are pursuing an infrastructure deal in Hawaii, acquiring two catamaran ferries in a $235m transaction as the initial step toward building the state’s first inter-island ferry service.

Warburg Pincus’ Targa Resources has completed its $2.45bn acquisition of Dynegy’s midstream services business. Hurricane Katrina-related damage to two of the company’s natural gas processing plants had threatened the transaction.

Chicago-based Lake Capital held an $800m close on its latest fund, representing a 60 percent increase over its inaugural, service-industry vehicle raised just three years earlier.

Welsh Carson Anderson & Stowe recapitalised Titan Worldwide, investing in a deal that will allow existing investor Catterton Partners to cash out of its five year investment.