SAN FRANCISCO — Hellman & Friedman closed the $3.5 billion Hellman & Friedman Capital Partners V. Most of the fund's investors also invested in Hellman & Friedman's previous funds, said Brian Powers, chief executive officer. Among the investors in the fund are the $161 billion California Public Employees' System, Sacramento; $80.7 billion New York State Teachers' Retirement System, Albany; and US$26 billion Ontario Municipal Employees Retirement System, Toronto.
Hellman & Friedman closes its $3.5 billion Capital Partners V
SACRAMENTO, Calif. — American River Ventures closed the $100 million American River Ventures I, an early stage information-technology venture capital fund. The $161 billion California Public Employees' Retirement System, Sacramento, is one of the investors in the fund.
BOSTON — ArcLight Energy Partners closed the $1.6 billion ArcLight Energy Partners Fund II, said Daniel R. Revers, ArcLight Capital Partners managing partner. Investors in the fund include the $161 billion California Public Employees' Retirement System, Sacramento; C$140 billion (US$104 billion) Caisse de Depot et Placement du Quebec, Montreal; and University of Texas Investment Management Co., which runs assets for the $11 billion University of Texas system.
BOSTON — Less than 25% of private equity partnerships that raised money in 2000 remained active in the business in 2003, according to a report by Mercer Investment Consulting. Also, the amount of capital raised by general partners in 2002 and 2003 was less than half that raised in the two previous years, the study showed.
In 2003, venture capital firms raised 113 funds with total assets of $10.8 billion, and buyout firms raised 73 funds with total assets of $26.7 billion. In 2000, venture capital firms raised 629 funds with assets of $105.4 billion, and buyout firms raised 158 funds with assets of $76.5 billion.
For the year ended Dec. 31, venture capital returned an average of 8.1%, and buyouts, 9.1%; private equity overall returned 18.3%.