This Week's Fund Closings

Dec 22 2005 | 10:01pm ET

Loomis Sayles has held a soft close of the Consumer Discretionary Hedge Fund, its first hedge fund offering, with $240 million. Once the fund reaches $300 million, only existing investors will be allowed to invest. Investments, the funds will invest in short-term notes backed by hard assets.

• Private equity firm JLL Partners has closed its fifth JLL Partners Fund with $1.5 billion in commitments. Investors in the fund include large universities, endowments, corporate pension funds, state and union pension plans, family offices and fund-of-funds. Credit Suisse First Boston acted as financial advisor and arranged for the private placement of the limited partnership interests.

Rustic Canyon / Fontis Partners has held a fist close of its private equity fund with $70 million in commitments and aims to raise a total of $150 million in financing. The fund will provide growth capital to cash-flow positive companies with annual sales of $10-70 million that serve the Hispanic and Asian markets in the Western United States. Initial investors include CalPERS, the Banc of America California Community Venture Fund, CalSTRS/Banc of America Capital Access Fund, The New Mexico State Investment Council and Wells Fargo Bank.

• Chicago-based private equity firm Wynnchurch Capital has closed its Wynnchurch Capital Partners II fund with $350 million in commitments, exceeding its original target by $50 million. The fund will invest in middle market companies in the Western U.S. and Canada. Investors in the fund include Goldman Sachs, the Credit Suisse First Boston Customized Fund Investment Group, Caisse de depot et placement du Quebec, The Local Government Pensions Institution (of Finland), Power Corporation of Canada, Grove Street Advisors, General Electric Pension Trust and Nordea Investment Management. The firm's first fund closed in 2000 with $163 million in commitments. Wynnchurch Capital now has $500 million in assets under management.


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Editor's Note