When John Bichelmeyer’s mutual fund fell 48 percent in 2008, he decided his portfolio needed an upgrade. The Buffalo Emerging Opportunities Fund would still invest in small companies with the potential to become big ones. What it wouldn’t do is invest in businesses that were burning cash, or in biotechnology firms whose prospects were difficult to gauge, Bloomberg Markets magazine will report in its April issue.
Paragon Partners GmbH plans to finish raising money for a buyout fund focused on German- speaking Europe at about 400 million euros ($550 million), almost twice the size of its first effort, two people with knowledge of the situation said.
Gianni Versace SpA, the Italian fashion house that features Lady Gaga in its latest advertising campaign, agreed to sell a 20 percent stake to money-management firm Blackstone Group LP for 210 million euros ($287 million).