Pequot Ventures, the private equity arm of Pequot Capital Management which in October escaped censure over insider trading charges, has raised $183m (€138m) for its fourth private equity fund.

The fund, Pequot Private Equity Fund IV, is expected to have an initial close at $200m. The firm has teamed up with Erie Insurance Exchange and GE Pension Trust as limited Partners, according to a filing with the Securities and Exchange Commission.