Fundraising

First Reserve, which recently opened offices in Asia, has announced the closing of the largest energy-specific global fund ever raised, at $7.8bn. CEO Bill Macaulay told PEO that investor demand could have made the fund "much larger."

The Japan-focused private equity house has acquired OCC Corporation, a cable systems company, from the IRCJ, the state-backed corporate rescue organisation.

Kibo Technology Advancing Capital, a Korean venture capital firm funded mostly by the Korean government agencies, has raised $36 million for two funds this week.

Bear Stearns Merchant Banking will place an increasing focus on financial services companies as it seeks to differentiate itself from other ‘captive’ models.

BTS Investment Advisors, a Swiss private equity advisor, has raised $80 million for expansion capital investments in India.

The firm is reportedly set to hire Ralph Reynolds from Deutsche Bank to lead a new hedge fund trading stocks and bonds.

The Canada Investment Fund for Africa, to be managed by emerging markets-focused firms Actis and Cordiant, will target mid-market opportunities across Africa.

Permira, a European buyout firm, has bought All3Media, maker of UK television programmes Richard and Judy and Formula One, from Bridgepoint for £320m.

The Chicago-based private equity real estate firm has joined with The Preiss Company to build new off-campus student housing at the University of North Carolina, Charlotte.

The fledgling private equity real estate company has closed Benson Elliot Real Estate Partners II on €335m.