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Weekly Deals and Funds Roundup: 11 June 200811/06/2008. 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.
The Pennsylvania State Employees' Retirement System (SERS) has made commitments to six private equity and venture capital firms. These include up to €25m to Avenue Europe Special Situations Fund, up to $30m to Dover Street VII, up to $10m to Guggenheim Technology Ventures I, up to $15m to Vista Equity Partners Fund III, up to $25m to Great Hill Equity Partners IV and $30m to H.I.G. Bayside Debt & LBO Fund II. Established in 1923, SERS manages retirement plans for the state of Pennsylvania's public employees. The firm has assets of more than $34bn.
Online gaming business Turbine has raised $40m in equity financing, led by expansion stage venture capital firm GGV Capital and Time Warner Investments, alongside existing investors Highland Capital Partners, Polaris Venture Partners, Tudor Ventures and Columbia Capital. Turbine has created online games including The Lord of the Rings Online: Shadows of Angmar, Dungeons & Dragons Online and Asheron's Call. GGV manages over $1bn from its offices in Silicon Valley, Shanghai and Singapore, targeting investments in IT, services and healthcare, and the consumer growth sector in China.
Online banking firm Yodlee has completed a $35m financing round, led by Bank of America. Existing Yodlee investors, including Warburg Pincus, Accel Partners and Institutional Venture Partners also participated in the financing. Yodlee operates in the US, Europe and India and is headquartered in California.
Motilal Oswal Venture Capital Advisors has invested INR600m ($14m) in Indian dairy company Parag Milk Foods. Motilal Oswal Venture is a wholly owned subsidiary of financial services group Motilal Oswal Financial Services. The firm closed its $125m fund for India, the India Business Excellence Fund (IBEF), in December 2007. IBEF focuses on providing growth capital to SMEs, typically in the range of between $5m and $15m, across all sectors.
US medical device company Sinexus has completed a $20m Series B financing round, led by life sciences venture capital firm PTV Sciences along with existing venture investors Kleiner Perkins Caufield & Byers and U.S. Venture Partners. As part of the financing round, PTV Sciences managing director Evan Melrose will join the Sinexus board of directors. PTV Sciences operates out of offices in Austin and Houston, Texas.
New York-based private equity firm Charterhouse Group has partnered with Highlander Partners and MTS Health Investors to acquire healthcare services business Chamberlin Edmonds & Associates. Following the transaction, Charterhouse operating partner Christopher J Garcia will take up the position as chairman of the board of directors of CEA. The company serves as patient advocates and provides eligibility determination services for hospitals, governments and managed care organisations throughout the US. Charterhouse focused on sectors including healthcare services, business services and consumer products and services.
US auto finance company Sixth Gear Solutions has received $250m in equity commitments from a group of private equity investors led by Warburg Pincus. The company also received $750m in long-term debt facilities. Warburg Pincus has more than $35bn of assets under management. The firm invests in sectors including financial services, consumer and retail, industrial, healthcare, energy, real estate and technology, media and telecommunications.
Healthcare-focused private equity firm Galen Partners has sold medical products company Specialized Health Products International to C.R. Bard, for $68.4m in cash. The firm originally made the investment from its Galen III fund. In July of last year, the firm closed its fifth fund, Galen Partners V, on $250m.
Chicago-based private equity management firm Beecken Petty O'Keefe & Company has acquired clinical contract management company Sterling Healthcare from Resurgence Asset Management. Financial terms were not disclosed. Beecken Petty O'Keefe & Company targets investments in mid-market buy-out transactions, recapitalisations and growth platforms in the healthcare industry.
The Riverside Company has acquired AICAT, a German technology-oriented consulting and engineering service, as an add-on to IndustrieHansa Engineering and Consulting, a business division of Riverside platform company Advanced Information Systems Group. AIS Group was acquired in December 2006 with equity from Riverside Europe Fund III.
Hopewell Ventures, a Chicago-based venture capital fund, has closed on its lead investment in Helios Coatings's $4m preferred equity financing. Also investing is G.C. Andersen Partners of New York City. Helios Coatings is a Canton, Ohio-based provider of OEM-approved, environmentally responsible metallic coatings for the automotive industry.
BayTech Venture Capital of Munich led a $3m financing round by Ads-Click, a Swiss contextual and mobile advertising provider. The funds will be used for technology enhancement and to support the company's international expansion, according to a statement. BayTech invests in early or expansion stage companies in the technology and life sciences sectors in Western Europe, with a special focus on Germany, Switzerland and France.
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