This Week's Fund Closings

Jan 13 2006 | 8:30pm ET

• Private equity firm Aisling Capital has closed it its life sciences fund, Aisling Capital II, With $550 million in commitments.  The New York-headquartered Aisling, which has $1 billion in assets under management, was spun-out of Perseus-Soros Management. Aisling will invest primarily in life science companies that are developing biopharmaceutical products and creating businesses based on advanced life science technologies. Dennis Purcell, senior managing director of Aisling, said in a release, "we continue to believe that opportunities exist in all areas of the life sciences industry and will implement a strategy similar to the first fund."

• New York-Based Abbott Capital Management has closed its fifth private equity fund-of-funds with over $850 million in commitments. The new fund will invest in venture capital, buyout and special situation partnerships in the U.S. and other developed markets.

• Virginia-based private equity firm Quad-C Management has closed its seventh private equity fund with $850 million in commitments, according to a regulatory filing. The firm, which invests in companies with market capitalizations between $50 million and $500 million, closed its previous fund at $650 million.

Lightspeed Venture Partners, which provides seed and early-stage venture capital to technology companies, has closed its seventh fund with $475 million in commitments, $75 million above its target. The fund's closing brings the firm's total capital under management to $1.3 billion. New investors with Lightspeed include the regents of the University of California and several international limited partners such as GIC Special Investments of Singapore. Returning investors include Bessemer Trust, Alfred L. DuPont Trust, Horsley Bridge Partners, Pantheon Ventures, and the Partners Group.


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Editor's Note