This Week's Fund Closings

Dec 1 2005 | 9:56pm ET

• Palo Alto, Calif.-based Technology Crossover Ventures has closed its latest venture capital fund, TCV VI, with $1.4 billion in commitments. The firm, which specializes in providing growth capital to technology companies, now has $4.7 billion in assets under management.

Wellspring Capital Management, a New York-based private equity firm, has closed its Wellspring Capital Partners IV fund with $1 billion in commitments, bringing the firm's total assets under management to more than $2 billion. According to the firm, nearly 70% of the capital raised came from limited partners who participated in the firm's previous funds, including institutional investors in the U.S., Canada and Europe. Thirty percent of the fund was reserved for new investors. Wellspring is focused on making value-oriented, control investments in the middle market, principally in North America.

• New York- and London-based Investcorp Technology Ventures has closed its Investcorp Technology Ventures II fund with $300 million in total committed capital, including a commitment of more than $8 million from ITV's own team. The fund, which focuses on venture buyouts, corporate spinouts and growth capital in the domestic and Western European technology sectors, originally had a target of $250 million.

• Private equity firm The Blackstone Group has reportedly raised $500 million for its first distressed opportunities fund. The fund is being managed by John Dionne, formerly of the Bennett Restructuring Fund, a hedge fund specializing in distressed debt. Calls to the Blackstone Group were not returned by press time. According to media reports, the firm is also in the process of closing the world's largest buyout fund with $12.5 billion.

• Los Angeles-based Aurora Capital Group has reportedly closed its Aurora Equity Partners III fund with $900 million in commitments.

General Catalyst Partners, a Cambridge, Mass.-based private equity firm, is reportedly close to closing its fourth fund with at least $365 million. General Catalyst makes investments entrepreneurs and technical founders who are building the software solution and technology platform companies that will lead innovation and transform industries.


In Depth

Prominent Hedgie Renee Haugerud Embroiled in Ugly Child Custody Battle

Sep 10 2014 | 2:43pm ET

A high-profile hedge fund manager is caught up in a nasty child custody battle in...

Lifestyle

Full House’s Stamos To Play TV Hedge-Fund Manager

Sep 5 2014 | 4:43am ET

The life of a Connecticut hedge-fund billionaire is coming to the small screen.

Guest Contributor

The Cult of Loss Aversion: A Call to Rethink Risk in Global Macro Investing

Sep 4 2014 | 5:45am ET

In the wake of a traumatic loss, whether it is financial or personal, it is just...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

In search of the ‘new normal’ at the Fed

The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.