Fundraising

UK fund-of-funds CDC has invested R100 million in Vantage Mezzanine Fund, the first mezzanine fund to be raised in South Africa. The fund is expected to close this August on about R600 million.

NanoDimension has raised €45 million for a dedicated nanotech venture fund, which has already made its first investment.

Industri Kapital, a Nordic buyout firm that is preparing to hit the fundraising trail, has taken advantage of the red-hot market for European housebuilders by selling Swedish-based Prevesta for €204 million. The sale will generate a return of more than ten times IK’s initial investment.

August Equity and Rutland Partners are relinquishing control of their listed trusts to New Star Asset Management, as the UK-based group looks to invest in private equity through a new fund of funds vehicle.

The listed Paris-based private equity group has wrapped up €500m in commitments for its first vehicle for third-party investors.

US and UK buyout firm Hellman & Friedman has bought Kronos, a provider of human capital management solutions, in a deal valued at about $1.8 billion.

SGAM Alternative Investments has held a first close of its North Africa fund on €100m, halfway towards its target size of €200m.

Axiom Asia has achieved a final close on an Asia-focused fund-of-funds, raising $440 million in less than a year since it set up. Asia Alternatives and Emerald Hill are also raising their first Asia-dedicated fund-of-funds.

3i has beaten heavyweight opposition to land its first deal in central and eastern Europe, and is aiming high after launching a new team dedicated to the region.

GS Vintage Fund IV, a fund of the company’s asset management private equity group, will focus on the secondaries market.