Ken MacFadyen

Another Asian strategy 2006-01-25 Ken MacFadyen <P>It only took a couple of  high-profile homeruns to get Western venture firms high on Asia. <FONT color=#99926b>Draper Fisher Jurvetson</FONT>’s (DFJ) winning bet on internet search engine <FONT color=#99926b>Baidu </FONT>and <

Texas Pacific Group and its Asian affiliate Newbridge Capital have poached General Electric veteran Steven Schneider to serve as a Hong Kong-based operating partner for both firms.

Fund-of-funds manager Adams Street Partners is raising a separate co-investment fund dedicated exclusively to buyouts. The new vehicle has a cap of $250m.

Lime Rock has closed on $450m for its inaugural Lime Rock Resources buyout fund. The new vehicle joins a growing class of energy funds to get capitalised in 2005.

Advent International and Highland Capital have nabbed a 48 percent stake in lululemon athletica, a maker of women’s athletic wear. The pair invested $93 million in the company.

NGP Energy Capital Management announced the close of three funds, which combined took in $1.7 billion in limited partner commitments.

Accel-KKR has realized its second exit with the $121 million sale of CRS Retail Systems to Epicor Software. The sale gives the firm an almost 3x return on its invested equity.

Kohlberg Kravis Roberts has tapped outgoing Flextronics CEO Michael Marks to join the firm. Marks’ hiring will coincide with the departures of long-time KKR execs Edward Gilhuly and Scott Stuart, who announced their intention to leave the firm in September.

Michael Farello, the former vice president of US consumer marketing and eBusiness at Dell, has joined Greenwich-based Catterton Partners as a partner.

Gemstar-TV Guide has unloaded in-flight catalogue company SkyMall in a $52 million sale to ZelnickMedia Corp., Spire Capital Partners and Greenspun Media Group.