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Yunfeng Capital, the private-equity firm co-founded by Chinese billionaire Jack Ma, raised $2.5 billion for its latest investment pool, according to filings with the Securities and Exchange Commission. The $2.5 billion raised for the main vehicle, Yunfeng Fund III LP, and a companion feeder fund matches the listed offering amount, although an Aug. 3 SEC filing doesn’t state whether the fund held a final close. The Hong Kong firm didn’t respond to a request for comment. Yunfeng was established...

KKR & Co. has disbanded its Africa deal team because it couldn’t find enough big companies to buy. Four KKR executives and an adviser who explored African opportunities have left the firm, according to KKR and former staff. The departures come less than four years after the New York-based firm made its only investment on the continent in Afriflora, the world’s largest rose farm, in Ethiopia. KKR’s withdrawal illustrates the challenges facing large Western private-equity firms, which have...