Secondaries
Lack of distributions continues to fuel secondaries
Exit woes fuel secondaries
Doughty Hanson acquires USP Hospitales for €355m
Doughty Hanson has acquired Spanish hospitals operator USP Hospitales from Barclays and Royal Bank of Scotland for €355m, 9x the firm's forecast EBITDA for 2012.
Main Capital sells Actuera to Waterland Private Equity
Main Capital has sold its majority stake in Dutch business software developer Actuera to Waterland Private Equity.
Hermes Fund Managers acquires Hermes GPE
Hermes Fund Managers and Hermes GPE's management have bought an interest in Hermes GPE from a subsidiary of the Henderson group.
Coller buys Crédit Agricole PE unit and funds
Coller Capital has agreed to acquire fund manager Crédit Agricole Private Equity (CAPE) from Crédit Agricole, as well as the bank's interests in the funds it manages.
Falling listed fund valuations hint at secondaries boom in 2012
Listed private equity funds are suffering from lower valuations in 2011. This is likely to have broader implications for investors in private equity funds looking to divest, and the secondary specialists hungry for deals. Diana Petrowicz investigates.
Vision acquires Speyside Equity portfolio
Secondaries investor Vision Capital has acquired a two-company portfolio from Philadelphia-based private equity group Speyside Equity.
Madrid’s local government to sell stake in CRM
Madrid’s local government is to sell its 49% stake in private equity fund Capital Riesgo Madrid (CRM) on the secondaries market.
Secondaries activity to carry on in Q4
Driven by banks and the resurgence of other LPs coming to the market, secondaries activity is likely to remain steady in the coming months. The recent market turmoil is however starting to impact pricing. Greg Gille reports
AXA Private Equity and LGT in €620m secondaries deal
AXA Private Equity and LGT Capital Partners have bought a €620m portfolio of LP interests in European buyout funds from HSH Nordbank AG.
JPEL buys Arch Cru portfolio for £56.5m
J.P. Morgan's Private Equity fund of funds (JPEL) has snapped up 38 investments from the former Arch Cru portfolios in a deal worth £56.5m.
Secondary players dominate Italy’s foreign LP base
Italian GPs ought to be doing more to attract foreign investors at the fundraising stage, as many of the country's overseas-based LPs are secondary players. Susannah Birkwood finds out whether this and other local trends are about to change.
CDC to sell PE portfolio
France's Caisse des Dépôts et Consignations (CDC) is planning the sale of a €180m private equity fund portfolio, according to media reports.
AXA PE buys $740m portfolio from Barclays
AXA Private Equity has acquired a $740m portfolio of 22 limited partnership interests in private equity buyout funds and a number of stakes in co-investment vehicles from Barclays.
Electra strengthens relationship with Steadfast
Electra Partners has announced two new investments that strengthen the relationship with German investment partner Steadfast Capital GmbH.
PIP in $40m secondaries deal
Pantheon International Participations PLC (PIP), Pantheon’s quoted private equity fund-of-funds investment trust, has committed $40m to buy a portfolio of 25 buyout global funds with more than 400 portfolio companies.
AXA pays $1.7bn for Citi’s 207 LP stakes
Large transactions continue to drive the market, fueling suspicion that this year’s total will surpass last year’s record $20bn. Kimberly Romaine reports
Vision Capital acquires portfolio from Banco Popolare
Vision Capital has acquired a portfolio of assets from Italian retail bank Banco Popolare.
Easter sees double secondaries deals
The Easter weekend has seen major developments in the secondaries market, with both HarbourVest and Eurazeo attempting to expand their presence through acquisitions. John Bakie reports
Verdane Capital acquires Eqvitec’s Fund III
Secondary specialist Verdane Capital has acquired Eqvitec Technology Fund III from Eqvitec.
Coller to buy €500m secondaries portfolio from Crédit Agricole
Coller Capital is in talks with Crédit Agricole to buy €500m worth of stakes in buyout funds, according to media reports.
Electra buys Riverside's Sentinel in SBO
Electra Partners has acquired Sentinel Performance Solutions from Riverside in a £43m secondary buyout.
Secondaries in primary position
Secondaries activity breaks $20bn barrier for the first time.
Linpac offloads five assets to Chamonix
Direct secondaries specialist Chamonix Private Equity has completed the institutional buyout of five non-core businesses from Linpac Group.