Fundraising

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.

Dubai-based Abraaj Capital has secured one-quarter of its targeted fund size at the first close of its infrastructure and growth capital fund.

The London-based firm has closed its largest fund to date after receiving commitments of nearly €900m, almost three times the size of its previous vehicle.

GSR Ventures, an affiliate of Silicon Valley-based venture capital firm Mayfield, has raised $200 million for its second China-focused fund, less than a year after closing its debut fund.

The middle market buyout shop has increased by $200m its third fund, which closed in May 2005 on $650m.

Investcorp raises over $500m from investors in six months and is preparing to raise a dedicated private equity fund.

Abingworth has closed a record £300 million fund, which will target life sciences investments in Europe and North America.

SIDBI Venture Capital and Clearstone Venture are investing a combined $6.5 million into a mobile device designing and manufacturing startup, DGB Microsystems. The startup’s founder and associates are putting in $2 million of their own money.

The Private Equity Foundation, a new initiative designed to help the industry co-ordinate its charitable giving, launched in London last night.