Fundraising

Intermediate Capital Group has held the first closing of its new fund at €650 million, while a six-month interim report shows record gains on investments of £93.3 million.

The global property investment group is fundraising on four other fronts as part of its ambition to invest €4.5bn in Europe.

Investors have informally approved the increase which should mean Coller Capital closes the largest secondaries fund early next year, eclipsing rival Lexington Partners.

Danish investment firm Sparinvest has closed its fund of funds on $640m, which will invest in property vehicles around the world.

German special situations manager has closed its second fund without breaking into a sweat, while Jon Moulton’s distressed debt fund underlines appetite for turnaround deals.

Europe’s biggest quoted private equity business has held the final close on its €5bn buyout fund, the largest pool of capital focused on the European mid-market.

Partners Group, a Swiss alternative asset manager, has invested €40m ($51 million) from its €400m fund Partners Group Global Opportunities, following months of rampant activity.

ING Real Estate has closed its first China-focused opportunity fund on $350m with plans to focus on residential developments in primary and secondary cities.

NBK Capital, an investment and merchant banking subsidiary of the National Bank of Kuwait, has raised $200 million for a new private equity fund it hopes to close before the year is over.

Benchmark Capital Europe has raised $550 million for its third fund without having sold a portfolio company from its previous fund.