Term Sheet — Monday, March 2

• On its way: TPG Capital is expected to inform limited partners that it has held around a $6.5 billion first close on its seventh flagship private equity fund. This figure includes both a rollover of an interim bridge fund and part of a general partner commitment that could eventually total $400 million. The fund continues to target $8 billion with a $10 billion hard cap, having formally kicked off the process last October.

Even though TPG isn't yet at the final close, this is a huge success. There has been talk for years about how TPG might have major troubles raising this fund, due to some recent performance troubles caused by big busts like TXU and Washington Mutual. But it seems that Bonderman, Coulter and company managed to persuade many LPs that they have learned from their past mistakes and righted the ship. Also worth noting that TPG is said to be planning a big first close for its latest growth equity fund within the next few weeks. TPG declined comment, via a spokesman.

• Answer Key: Last week I asked you to name the VC-backed security company that recently filed confidential IPO docs with the SEC. Your hint was that the company is not based in Silicon Valley.

The answer was Burlington, Mass.-based Veracode, which is expected to publicly file its S-1 documents shortly with plans to price sometime in May. The company raised its most recent round of funding last September at a post-money valuation of around $450 million, but the post-IPO market cap is expected to be around two times higher. Veracode declined comment, via a spokeswoman.

THE BIG DEAL

• NXP Semiconductors NV (Nasdaq: NXPI) has agreed to acquire rival chipmaker Freescale Semiconductor Ltd. (NYSE: FSL) in a deal that would value the combined company at more than $40 billion. Freescale shareholders include The Blackstone Group (16.01% stake), TPG Capital (16.01%), The Carlyle Group (16.01%) and Permira (16.01%). Read more.

VENTURE CAPITAL DEALS

• Chiasma Inc., a developer of octreotide capsules for acromegaly, has raised $70 million in Series E funding. Rock Springs Capital and Sofinnova Ventures were joined by return backers MPM Capital, F2 Capital, 7 Med Health Ventures, Abingworth and ARCH Venture Partners. Also participating was an unidentified “blue chip public investment fund.” The company has offices in Israel and Massachusetts. www.chiasmapharma.com

• Kobalt Music Group, a UK-based music royalties collection platform, has raised $60 million in new VC funding. Google Ventures led the round, and was joined by return backer MSD Capital. Last year, the company raised $140 million from firms like MSD Capital and Balderton Capital. www.kobaltmusic.com

• Outfittery, a German curated clothes shopping service for men, has raised $20 million in new VC funding. Northzone Ventures led the round, and was joined by return backers Highland Capital Partners, Holtzbrinck Ventures and Mangrove Capital Partners. Read more.

• SOLS, a New York–based provider of 3D printing and custom mass manufacturing, has raised $11.1 million in Series B funding. Tenaya Capital and Melo7 Tech Partners were joined by return backers Founders Fund and Lux Capital. www.sols.com

• Grofers, an Indian express delivery marketplace, has raised $10 million in Series A funding. Tiger Global was joined by return backer Sequoia Capital. www.grofers.com

PRIVATE EQUITY DEALS

• Blue Wolf Capital Partners has acquired a majority stake in North American Rescue LLC, a Greenville, S.C.–based provider of tactical medical products like tourniquets, chest seals and decompression needles. No financial terms were disclosed. www.narescue.com

• Cressey & Co. has acquired a majority stake in Dental Services Group, a Minneapolis–based dental lab network. Sellers include The Edgewater Funds and Boulder Capital. No financial terms were disclosed. www.dentalservices.net

• Cyprium Partners has sold Atis Group, a Canadian window and door manufacturer, to a consortium that includes Fonds de solidarite FTQ, Capital regional et cooperative Desjardins and Fondaction CSN. No financial terms were disclosed. www.atisgroup.ca

• eResearchTechnology Inc., a Philadelphia–based portfolio company of Genstar Capital, has agreed to acquire PHT Corp., a Boston–based provider of mobile apps for clinical research. No financial terms were disclosed. www.phtcorp.com

• Genstar Capital has sponsored a recapitalization of existing portfolio company NetSmart, a Great River, N.Y.-based provider of behavioral health IT solutions. The deal included a $250 million senior credit facility. www.ntst.com

• KKR has completed its previously-announced deal whereby it acquired an 85.05% stake in the DJ equipment business of Pioneer Corp. (Tokyo: 6773) for approximately $550 million. www.kkr.com

• PSI Services LLC, a Burbank, Calif.–based provider of professional testing services, has raised an undisclosed amount of private equity funding from Waud Capital Partners. www.psionline.com

• Sabre Industries Inc., an Alvarado, Texas-based portfolio company of Kohlberg & Co., has acquired FWT, a Fort Worth, Texas-based manufacturer of steel structures for the electricity transmission and distribution industry, from Satori Capital. No financial terms were disclosed. www.fwtllc.com

• Safe Fleet Investments, a Belton, Mo.–based portfolio company of The Sterling Group, has acquired Elkhart Brass, an Elkhart, Ind.–based maker of fire-fighting and fire protection equipment. No financial terms were disclosed. www.safefleetsolutions.com

• Spectrum Equity has made a “significant investment” in Definitive Healthcare, a Framingham, Mass.-based provider of data, intelligence, and analytics on the healthcare provider market. www.definitivehc.com

• TowerBrook Capital Partners is in “advanced talks” to acquire women’s clothing retailer J. Jill from Golden Gate Capital for more than $400 million, according to Reuters. Read more.

IPOs

• RainDance Technologies Inc., a Billerica, Mass.-based developer of microdroplet-based solutions for single molecule and single cell analysis, has filed for a $60 million IPO. It plans to trade on the Nasdaq under ticker symbol RAIN, with BofA Merrill Lynch listed as left-lead underwriter. The company reports a $2.7 million net loss in 2014 on $30.5 million in revenue, compared to a $3.3 million net loss on $17 million in revenue for the year-earlier period. Shareholders include Mohr Davidow Ventures (34.4% pre-IPO stake), Quaker BioVentures (18.5), Alloy Ventures (13.3%), Acadia Woods Partners (8%), Northgate Capital (6.1%), GE Ventures, Myriad Genetics and Sectoral Asset Management. www.raindancetech.com

• Wood Mackenzie, a UK-based energy analytics group owned by Hellman & Friedman, is prepping an IPO that could value the company north of $3 billion, according to the FT. Lazard is serving as lead advisor. Read more.

EXITS

• BelHealth Investment Partners has retain Cain Brothers & Co. to find a buyer for Linden Care LLC, a Syosset, N.Y.-based concierge pharmacy service, according to Dow Jones. www.lindencare.com

• Leonard Green & Partners has agreed to sell Scitor Corp., a Reston, Va.–based provider of services to the intelligence community, to Science Application International Corp. (NYSE: SAIC) for $790 million in cash. www.scitorcorporation.com

• Visa Inc. (NYSE: V) has agreed to acquire TrialPay, a Mountain View, Calif.-based transactional advertising platform. No financial terms were disclosed for the deal, which is expected to close in Q3. TrialPay had raised around $56 million in VC funding, from firms like Visa, Battery Ventures, Index Ventures, Greylock Partners, T. Rowe Price, DAG Ventures, DFJ Growth and QuestMark Partners. Read more.

• Vue Entertainment is prepping a takeover bid for Nordic Cinema Group, a Nordic movie theater chain currently owned by Ratos AB, according to The Sunday Times. www.nordiccinemagroup.com

OTHER DEALS

• Hewlett-Packard (NYSE: HPQ) has agreed to acquire wireless network infrastructure company Aruba Networks (Nasdaq: ARUN) for approximately $3 billion (including assumed debt). Read more.

• Masco Corp. (NYSE: MAS) has acquired Endless Pools Inc., an Aston, Penn.-based maker of counter-current swimming pools. No financial terms were disclosed. Sperry, Mitchell & Co. managed the process. www.endlesspools.com

• Ola, an India-based taxi e-hail company, has acquired smaller rival TaxiForSure for approximately $200 million. Ola has raised over $200 million in VC funding from firms like SoftBank Capital, Sequoia Capital, Steadview Capital, Matrix Partners India and Tiger Global Management. TaxiForSure backers include Accel Partners, Helion Venture Partners and Blume Ventures. Read more.

FIRMS & FUNDS

• Georgian Partners, a Canadian VC firm, is nearing a final close on its second fund that is expected to approach its C$170 million hard cap, according to peHUB. Read more.

• Irving Place Capital is in talks to restructure its $2.7 billion third fund, via a stapled secondary led by Coller Capital. Bloomberg reports that Coller would buy out the fund’s LPs, and then provide capital for new investment. Coller’s partners on the deal may include the Abu Dhabi Investment Authority. Read more.

MOVING IN, UP, ON & OUT

• Craig Farr is stepping down as head of KKR’s credit and capital markets group, as first reported by Bloomberg. He will transition into an advisory role. Adam Smith will take over capital markets, while Nat Zilkha and Alan Burke will co-lead credit. Read more.

• Remy Durand has joined Frazier Healthcare as a senior associate. He previously spent two years with GE Ventures. www.frazierhealthcare.com

• GMT Communications Partners, a European private equity firm, has made three promotions: Natalie Tydeman to senior partner, Vikram Krishna to partner and Francois Stoessel to principal. www.gmtpartners.com

• Jason Jerista has joined LLR Partners as an investor relations manager, after having previously served as director of investor relations with Verdis Investment Management. In other LLR Partners news, the firm has promoted Jack Slye to partner. Slye leads LLR’s investments in the education and healthcare sectors, and joined the firm in 2010 from Sterling Partners. www.llrpartners.com

• Jeremy Rabe and Livia Masnaghetti have joined Advent International as an operating partner and industry advisor, respectively. Both will focus on investments in the global loyalty and marketing services sectors. Rabe previously was CEO of Premier Loyalty & Marketing, a joint venture of Aeromexico and AIMIA, while Masnaghetti advised Aeroplan on its IPO and the spinoff from Air Canada. www.adventinternational.com

• Owen Sullivan has joined Baird Capital as an operating partner. He previously was president of specialty brands for ManpowerGroup. www.bairdcapital.com

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