Matt Levin

The publicly listed private equity firm, battered by the public markets, has increased the stake the Chinese sovereign wealth fund can own in the firm from 9.99 percent to 12.5 percent.

The Kline Hawkes spin-out, which will target lower mid- market companies with revenues of $2m to $25m, closed the fund amid a difficult fundraising environment for new firms.

The private equity firm has sold its stake in electronics manufacturer ATech elektronica, generating an 18 percent return for investors.

The Beverly Hills-based private equity firm has acquired the magazine, which has more than 20 million weekly readers, from media technology company Macrovision Solutions. OpenGate founder and chairman Andrew Nikou formerly managed Platinum Equity's European portfolio.

ComVest Investment Partners has withdrawn its offer for the Kentucky-based IT firm, roughly six months after Charlesbank Capital balked on the take-private.

African fundraising soared to unprecedented heights in the first six months of 2008, but the second half of the year may not be as rosy, writes Matt Levin.

The Africa-focused firm has purchased $28m in common shares and convertible notes of West African lender Financial BC.

The investment bank has appointed Christopher Cooke, most recently at UK hedge fund CQS, as a managing director. Greenhill hired five members of Lehman Brothers' placement team in May to launch its own fundraising division.

Azure Capital Partners, Crosspoint Venture Partners, GRP Partners and others had invested roughly $270m in the online payment system since 2001.

The mid-market specialist has purchased Southern California-based Andrews International, which provides uniformed security and investigatory services to a range of industries. DFW, Meridian Venture Partners and Theo Capital Partners purchased the company in 2004.