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Weekly Deals and Funds Roundup: 18 October 200618/10/2006. 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
Advent International has concluded an agreement with FleetCor, whereby FleetCor acquires CCS Ceská spolecnost pro platebni karty through a cash and share transaction. The transaction enables Advent to return funds to its investors while also becoming a shareholder in Fleetcor, alongside Bain Capital and Summit Partners. Advent acquired CCS, a provider of fuel cards and related fleet services for business in the Czech and Slovak Republics, in October 2005.
Main Capital II and senior management have together acquired 100 per cent of Actuera in an MBO transaction. Actuera is a Dutch specialist in software solutions for pension funds and major insurance companies. The company has 75 employees.
Baird Capital Partners, the US-based buy-out fund affiliate of investment firm Robert W. Baird & Co., has completed the sale of its equity interest in Berbee Information Networks Corporation to CDW Corporation. In March of 2000 BCP led a $17.5m preferred stock investment in Berbee.
3i has taken a 40 per cent stake in Empruntis.com, an independent online broker of financial products including mortgages, personal loans and insurance, for €32m. A year after investing in SeLoger.com, a specialist in online real estate listing services, 3i is continuing its strategy of supporting internet companies by investing in Empruntis alongside the company's founding managers.
Mid-market private equity firm Inflexion Private Equity has led the £24m MBO of Parasol, an employment services company. With Inflexion's investment, the company intends to enhance the quality and breadth of its services.
Oxford Capital Partners has completed a follow-on investment in Helveta, the Oxford-based creator of the TracElite timber traceability solution. Oxford Capital Partners has invested £430k in a £2m funding round which included new investor Close Ventures and a number of other investors.
FUNDS
London-based private equity firm Kelso Place Asset Management has closed its third fund with total commitments of £100m. The Kelso Place UK Special Situations Fund has been raised from its two principals and two family offices, all of whom are investors in previous Kelso Place funds. The fund's investment criteria, which largely mirror those of Kelso Place's two earlier funds, is to make a small number of long-term investments in UK-based businesses, in any sector, where it believes its active approach of working alongside existing management teams can create significant value. Its preferred investment targets are turnarounds, non-core subsidiaries, and development capital opportunities.
The California Public Employees' Retirement System has announced a $500m investment vehicle for the second phase of the California Initiative Program. It will be managed by Hamilton Lane, a long-time CalPERS partner. It is the first of several new investment vehicles that the System's Alternative Investment Management (AIM) Program will roll out in the coming months under a strategic realignment that began this year, according to a statement. The California Initiative Program was begun in 2001 to invest in companies in underserved urban and rural markets - primarily in California - that have historically had limited access to institutional equity capital. The programme's original allocation of $475m has been fully committed to 130 companies.
Copyright © 2006 AltAssets
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