Fundraising

With the second investment from Carlyle Asia Partners III - which has so far garnered $2.1 billion in commitments - the firm has become the latest buyout group to target China's dairy sector.

Private equity infrastructure funds have long used different structures than their traditional private equity peers.The asset class provides some intriguing examples of the benefits and drawbacks of some innovative models, among them the open-end fund structure.

Funds committed in 2007 ‘have to be sensibly reduced in 2009’, according to the new head of the European buyout house, Lionel Zinsou.

Blackstone’s chairman has told the SEC a firm like his would never have reached its level of success, which directly benefits pensioners, without placement agents.

The secondaries firms have established a £170m fund to acquire assets from 3i that will be managed by DFJ Esprit's nascent secondaries arm, Encore Ventures.

Michael Ricciardi, Enrique Cuan and Alan Pardee will lead the 24-strong team for Mercury Capital, which will raise private equity, private equity real estate and infrastructure funds globally.

A California political ethics commission is investigating CalPERS board member Charles Valdes, who received $38,600 in campaign donations linked to Alfred Villalobos' placement firm.

The placement agent has appointed Sheng Lu to head its new Shanghai office.

The group has continued its push into China, setting up a trust company joint venture that will enable it to offer RMB-denominated products in addition to arranging debt and equity financing in the country.

Emerging markets giant Actis is adjusting to life after the closing of its $2.9bn third fund by building up its IR and communications teams.