Fundraising

The well established Kirkland, Washington-based early-stage venture capital firm has closed its largest fund to date.

Sun European Partners, the European arm of Sun Capital Partners, has bought metal manufacturer Manoir Industries for an undisclosed amount.

The firm will combine the two companies—Backyard Adventures and Leisure Time Products—into one: Backyard Leisure.

London-based Europa Capital has held a first close of €100m on its new fund targeting property in Eastern and Southeastern Europe, which is being headed up by former EBRD pro Tim Norman.

Atlanta-based Noble Investment Groups had closed its third hospitality-focused private equity fund on $310m.

Orlando Italy, an offshoot of the German turnaround specialist set to close a debut €200 million fund, has bought troubled Italian sports label Sergio Tacchini.

Orchid Asia, a China-focused growth capital provider, has made three times its money in paper gains from the listing of a portfolio company in Hong Kong on 1 February.

CDC Group, the UK government-backed fund of funds, has made a $20 million commitment to Lombard Asia III, an expansion capital fund that will focus on South Asia and Greater China.

Liverpool has become the third English football club to come under US ownership, after accepting a £470 million takeover bid from US private equity veteran Tom Hicks and compatriot George Gillett. The deal will help the club finance a new stadium.

3i will look to raise £1.3 billion by floating an infrastructure fund on the London Stock Exchange, which will acquire 3i’s current portfolio of assets in the sector.