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Weekly Deals and Funds Roundup: 21 September 200521/09/2005. Source: AltAssets. 
 A selection of the latest deals and funds news from across the globe - essential reading for those who need to keep up-to-date with the industry's key developments.
This weekly roundup provides an update on deals and fund activity that did not feature as separate stories in AltAssets' daily news service.
DEALS
UK mid-market private equity investment firm Bowmark Capital has completed two investments in the school travel sector. The first investment is the £22m buy-out of Norwich, UK-based Kingswood Educational Group, a provider of educational activity and adventure trips for schools. The second deal is the acquisition of Equity Limited by Bowmark's portfolio company, The School Travel Group, for £6m. Bowmark supports management teams undertaking buy-outs, buy-ins, roll-outs, build-ups and expansion financings in the business services; leisure; healthcare; and media and IT services sectors. Its investment team focuses on UK companies, typically with an enterprise value of £10-50m.
Wachovia Capital Partners, the private equity and mezzanine investing practice of Wachovia Corporation, has acquired the George E. Fern Company, and separately, has completed an equity investment in Champion Exposition Services. Both companies provide products and services to tradeshow management companies and exhibitors. Financial details of the transactions have not been disclosed. Wachovia Capital Partners currently manages in excess of $750m of direct investments.
UK mid-market private equity firm Gresham has provided a financing package of £31m for Jackson Lloyd to support its future growth. Jackson Lloyd is a provider of maintenance services to local authorities and housing associations in the North West of England. Gresham is backing Bill Lloyd, the existing CEO and the current management team. All senior management have bought into the equity. Gresham focuses on management buy-outs from its offices in London, Birmingham and Manchester.
UK mid-market private equity firm Dunedin Capital Partners has backed the management buy-out of Shropshire,UK-based Practice Plan Group, a provider of independent payment schemes to dental practices. Dunedin provides equity finance for management buy-outs and management buy-ins with a transaction size of £10-50m. The firm invests in established companies, in these sectors: construction and building materials, consumer products and services, financial services, healthcare, leisure, specialist manufacturing and support services.
FUNDS
Menlo Park, California-headquartered early-stage venture capital firm Formative Ventures has closed its first institutional fund, Formative Ventures Emerging Technology Fund, on $77.5m. Harvard Management Company, which manages the university's endowment, serves as the anchor limited partner for the fund. Other limited partners include the University of Virginia Investment Management Company, the University of Pittsburgh and GKM Newport Generation Funds. In total, 13 institutional investors contributed to the Formative Ventures Emerging Technology Fund. The fund will invest in early-stage technology companies in areas such as communications, wireless and internet solutions. Formative Ventures was founded in 2000.
The Ohio Public Employees Retirement System has launched a new regional investment programme. Acting as a fund of funds, the $50m Ohio PERS/CSFB Ohio-Midwest Fund will be managed by Credit Suisse First Boston. It will invest primarily in private equity funds which focus in whole or in part on making investments in Ohio and the Midwest region.
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