Hicks, Muse, Tate & Furst, the Dallas based private equity firm has completed the first closing of its fifth fund and separately appointed Eric Neuman a partner of the firm.

The fund, named Hicks, Muse, Tate & Furst Equity Fund V, has so far raised $1.2bn (€1.3bn) from a group of US institutional and private investors. A final closing of the fund is scheduled for mid 2001.