Private Capital

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Khosla Ventures hires Google veteran Ben Ling

SAN FRANCISCO, May 23 - Khosla Ventures said on Thursday it is adding another new hire to its investment team: Ben Ling, who brings additional consumer-Internet expertise to Khosla, known for investing a substantial chunk of its portfolio in cleantech companies.

UPDATE 2-Apax Partners to take rue21 private in $1.1 bln deal

May 23 - Private equity firm Apax Partners LLP has agreed to acquire rue21 Inc for about $1.1 billion, attracted by the teen-apparel retailer's growth and cash flow and keen to add to a retail portfolio that includes Cole Haan and Takko Fashion.

Ride-share service Lyft raises $60 mln from venture capital firm

SAN FRANCISCO, May 23 - Ride-sharing service Lyft said it had raised $60 million from venture-capital firm Andreessen Horowitz, underscoring the growing appeal of services that tap into consumers' willingness to share goods and services for a fee.

China's GDC Technology plans $75 mln U.S. market debut

HONG KONG, May 23 - GDC Technology Ltd, a Chinese digital cinema equipment maker backed by private equity firm Carlyle Group, has applied for a listing on U.S. stock exchange Nasdaq of up to $75 million.

Former Chrysler, Fisker CEO launches venture fund with Penske

DETROIT, May 23 - Tom LaSorda, the former chief executive of Chrysler Group LLC and Fisker Automotive, is launching a venture capital fund with racing magnate Roger Penske to invest in technology startups.

E-commerce software maker ChannelAdvisor shares soar in debut

May 22 - Shares of cloud-based e-commerce software provider ChannelAdvisor Corp soared as much as 39 percent in their debut, as enterprise software makers continue to draw investor attention with their strong revenue models.

RLPC-CLO managers buy time with delayed draw tranches

LONDON, May 23 - High investor demand for scarce US leveraged loans is forcing managers of new Collateralised Loan Obligation (CLO) funds to include delayed draw tranches to buy time to build up leveraged loan portfolios and keep the issuance of new CLO funds on track.

Orkla, Royal Unibrew, Nordic vie for Heineken's Hartwall-sources

STOCKHOLM, May 23 - Norway's Orkla, Danish brewer Royal Unibrew and private equity firm Nordic Capital have proceeded to the second round of bidding for Heineken's Finnish division Hartwall, three people familiar with the matter said.

BRIEF-KKR sees $4.5 to $7 per share from cash carry

May 23 - KKR & Co LP in investor day: * Private equity co-head Alex Navab says its buyout funds could generate $4.5 to $7 of cash carry per share over time

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