Wheb Ventures, a European clean technology private equity firm, has completed the fourth closing of its second clean technology fund, Wheb Ventures Private Equity Fund 2 at GBP100.3m (EUR114m or USD153m). Wheb has so far attracted support from family offices and financial institutions and will hold the fund’s final closing at the end of May 2010.   The fund’s new commitments include one from HPE Environmental Innovation Fund, managed by Hermes. Hermes was selected to be one of the fund of funds managers of the UK Innovation Investment Fund which was established in January this year to invest in low

Sedgwick Claims Management Services, a US-based provider of insurance claims administration services, has agreed to be acquired by private equity firms Stone Point Capital and Hellman & Friedman for USD1.1bn (EUR816m). Sedgwick is currently controlled by US title insurer Fidelity National Financial, leveraged buyout specialist Thomas H. Lee Partners, Evercore Capital Partners and other shareholders. Fidelity National says it anticipates to book net proceeds of USD220m from the sale of its 32 per cent stake in Sedgwick. Bank of America Merrill Lynch and Barclays Capital have committed to provide financing for the deal.

GE Antares Capital, a unit of GE Capital, has served as administrative agent for a senior secured credit facility in conjunction with the acquisition of Caravan Trading by Sterling Foods, an existing portfolio company of TGF Management and Austin Ventures. Proceeds of the new facility were used to finance the acquisition, refinance Sterling’s existing senior credit facility and to provide for general ongoing working capital needs. GE Capital Markets served as lead arranger and sole bookrunner on the transaction. Founded in 1971, Sterling is a supplier of baked goods, as well as a provider of gourmet bakery items to the

Several private equity investors have acknowledged support for the Cloud Communications Alliance, a consortium of eight companies that aims to drive development and adoption of the first nationwide high-definition enterprise voice and data network in the IP cloud. The alliance was launched at the Cloud Computing Expo being held this week in New York City. “The same way the internet and ubiquitous broadband have created a boom in cloud computing, we are now seeing changes in the way enterprises communicate via cloud communications,” says Dennis Weibling, managing director of telecommunications firm Rally Capital. “Cloud communications is currently being served by

Base10 Capital Advisors has added private equity fundraising as an expansion of services to owners, developers and investors of mid-market commercial properties. The company says that by connecting clients with high net-worth sources of private equity fundraising, it fills a void that exists in the Western Canadian commercial real estate market. “Equity investors, whether existing partners or potential ones, have experienced some challenges and are now much more diligent in evaluating investment opportunities,” says Base 10’s managing director Bryan Slauko. “As a result, they are much more demanding with regard to ongoing transparency and reporting. Knowing what information to present

Providing entrepreneurs in developing countries access to financial services is crucial, Princess Máxima of the Netherlands has told the conference Be Social, Make Profit: Financing the Future of Developing Economies. At the conference, held to mark the 40th anniversary of Dutch entrepreneurial development bank FMO, Dutch Foreign Affairs Minister Maxime Verhagen emphasised that economic growth is essential in developing countries to ensure equal distribution of wealth. “Investing in infrastructure is important for economic growth in developing countries,” Verhagen said. He referred to the Infrastructure Development Fund set up by the Foreign Affairs Ministry and FMO, which focuses on higher-risk infrastructure

Omers Private Equity has agreed to acquire United States Infrastructure from funds affiliated with Kohlberg. United States Infrastructure is a provider of outsourced sub-surface utility locating services in the US. The company provides locating services across 20 states on behalf of over 400 telecom, electric, gas, cable and water utilities, including all major national and regional utilities throughout the Midwest, Southeast, Southwest and Northwest. "USIC is a great addition to our portfolio with its market-leading position, focus on quality of service, and history of innovation within its industry," says Paul Renaud (pictured), president and chief executive of Omers Private Equity.