Private equity firm 3i has celebrated PCD Stores’ successful initial public offering on the Hong Kong Stock Exchange. The company is a rapidly growing department store group in China with an emphasis on high-end luxury products. PCD Stores offered 1.5 billion shares under the global offering, raising USD377m (HKD2.925bn) before

Artfact, an online live auction marketplace, has closed on USD13m of growth capital financing provided by Boston-based Commonwealth Capital Ventures and Ascent Venture Partners. Simultaneously, Artfact has merged with Auctionzip, the world’s largest directory of live auction listings. In addition to facilitating the merger, the growth capital funding will be

LDC, a UK mid-market private equity house, is supporting one of the new Formula One racing teams led by Manor Motorsport and WR Technology, which will compete for the first time in the 2010 FIA Formula One World Championship.  The investment is consistent with LDC’s core investment principles of seeking

State Street has been selected by Illinois-based Calamos Investments to provide custody, fund administration and securities lending services to Calamos’ collective fund structures. The funds include open and closed end mutual funds, Dublin Ucits and private funds exceeding USD21bn in assets. With this consolidation, State Street now provides full back-office

Venture capital firms have agreed to sell LifeSize Communications, a US-based provider of high definition video communications products, to Logitech International, a Switzerland-based manufacturer of computer peripherals. Venture capital firms include Tenaya Capital, Austin Ventures, Norwest Venture Partners, Redpoint Ventures, Sutter Hill Ventures and Pinnacle Ventures. Logitech will acquire LifeSize

Three portfolio companies managed by Carlyle Asia Growth Capital Partners have completed their initial public offerings in Hong Kong and in New York, raising a combined total of nearly USD780m in gross proceeds. China Forestry, Kaisa Group and Concord Medical Services have all seen active trading.   Wayne Tsou (pictured),

F&C Private Equity, the private equity fund of funds division of F&C Asset Management, has completed the first close at EUR30m of the Aurora Fund, a new fund specialising in acquiring secondary interests in predominantly European private equity funds. Investors in the Aurora Fund include UK and Dutch pension funds.

Michael Kim, a partner at Rustic Canyon Partners, has formed Cendana Capital, a fund of funds investing in private equity. Based in San Francisco, Cendana Capital will pursue a tactical and opportunistic strategy, which will include non-traditional private equity and venture capital investments. Cendana Capital is forming at a time

Munich venture capital firm Target Partners has made an early round investment in Hetras, an Austrian-based developer of hotel management software. Hetras will use the funds to complete development and launch of the first internet-based management and reservation system for international hotel chains.   Software technology in hotel chains traditionally