UK private shop HgCapital said it has raised 300 million Euros ($395 million) for a fund earmarked to finance renewable power projects across Europe, Dow Jones reports. Backers of the fund include Dutch pension fund PGGM and the California State Teachers’ Retirement System. Portfolio companies in the Renewable Power Partners Fund include Wind Direct, developer of wind farms in the U.K. www.hgcapital.com
MatlinPatterson, best known for investments in troubled companies, plans to set up a joint venture with Chinese TV-maker Sichuan Changhong Electric Co. to make plasma displays, according to Dow Jones. The firm plans to invest $40 million for a 17.78% stake in the joint venture through two units of MatlinPatterson Global Opportunities Partners II—Mavericks Investment Holding Ltd. and Cloudbreak Investment Holding Ltd. Sichuan Changhong, together with one of its divisions, plans to invest $185 million for an 82.22% stake. www.matlinpatterson.com
Bus-maker Neoplan USA Corp. plans to sell its parts division and then shut down under a Chapter 11 plan approved by a bankruptcy court last week, according to Dow Jones. Willis Stein & Partners, the Chicago buyout shop, acquired the company from its German owners in 1998. Neoplan filed for Chapter 11 bankruptcy in Wilmington, Del. in August, listing assets of $13.7 million and debts of $59 million. www.neoplanusa.com www.willisstein.com
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