Fundraising

US investment bank Lehman Brothers has closed its fifth venture fund on $365 million.

The California pension has made its largest private equity commitment yet disclosed to Carlyle’s fifth US buyout fund, which has a target of as much as $17 billion.

Praesidian’s second fund has closed on $236 million and will continue the firm's focus on mezzanine debt for the middle market.

Recent disclosure of the US pension fund's $75 million allocation to a Carlyle-backed hedge fund has provided information as to the fund's structure and mandate.

Darwin Private Equity has held a second close of its debut fund just three months after launching with the backing of City grandee Lord Jacob Rothschild and his RIT Capital Partners trust.

The private equity firm is reportedly planning its first India dedicated real estate fund, targeting investors from the US, Europe and Asia.

Navis Capital Partners, the Asia-focussed buyout firm, has closed a fund more than triple the size of its previous fund, as the continent’s buyout firms prosper.

The UK private equity arm of Barclays Capital has closed its third European fund, having raising the entire capital from existing investors.

US pension giant CalPERS has launched a €400 million, Europe-focussed buyout initiative, to be managed by the private equity division of Scotland-based investment manager Standard Life Investments Group.

Noble Fund Managers has held the first close of its venture debt fund.