GPs
EUROPE - American Capital to acquire European Capital for USD 158m
European Capital has entered into an implementation agreement with majority owner American Capital that will see the latter acquire the 32.3% of shares it does not currently own for a total consideration of around USD 158m.
Duke Street's pensions hit
Calling on investors to pump money into a company no longer in a portfolio was unheard of - until recently. The financial downturn means the Regulator may strike again
UK - Tenon to launch fund management business
Accountancy firm Tenon Group Plc is to launch a new fund management business, Tenon Capital Management Ltd (TenonCap), which will in turn launch its maiden fund, T-Fund I LP. which will invest in distressed businesses.
EUROPE - 3i reports 40% drop in new investments
3i Plc has announced a year-on-year drop of almost 40% in new investments for the five months to 31st August, which fell to ТЃ622m in 2008 compared to more than ТЃ1bn for the same period in 2007.
GLOBAL - Bear Stearns Private Equity re-brands
Bear Stearns Private Equity Ltd will change its name to JP Morgan Private Equity Ltd (JPEL).
Q&A - Dr Henrik Fastrich, Orlando Management GmbH
Dr Henrik Fastrich is a managing partner at Orlando Management GmbH, which closed its Special Situations Venture Partners II fund (SSVP II) on EUR255m in November 2006. The fund focuses on complex spin-off situations or corporate carve-outs, succession...
CEE - Candover enters Eastern Europe
Buyout heavyweight Candover has reportedly launched a subsidiary to take advantage of the opportunities in New Europe.
EUROPE - Apollo and Lazard join forces
US buyout house Apollo Management and investment bank Lazard have announced a strategic partnership for private equity in Europe.
GLOBAL - Blackstone forms cleantech group
The Blackstone Group has formed a cleantech group, which will both make investments and advise Blackstone portfolio companies on renewable energy strategies.
WORLD - Blackstone opens Beijing office
The Blackstone Group will open a representative office in Beijing and has appointed Shan Fu, a former official with various economic bodies within the Chinese government, as its chief representative.
UK/US - Noble opens office in Texas
Noble Group has opened a subsidiary, Noble Corporate Advisory Inc, in Houston, Texas.
GLOBAL - KKR goes public
Kohlberg Kravis Roberts is going public in a transaction that will involve buying KKR Private Equity Investors, which was listed on Euronext Amsterdam two years ago, and listing the merged entity in New York.
Forgive us our sins
Investments in alcohol, gambling and pornography businesses are attractive, but tricky from a PR point of view. Nathan Williams investigates
UK/FRANCE - NBGI launches in Paris
NBGI Private Equity has opened a new office in Paris, which will be headed up by Didier Riebel and Laurent AllУЉgot.
EUROPE - Axa head calls for code on profits
The head of Axa Private Equity, Dominque Senequier, has called for Europe's private equity industry to draw up a voluntary code of conduct on how profit made from deals should be split among investors, managers and staff.
CEE – IDI launches IDI Emerging markets
IDI has launched IDI Emerging markets owith a target of EUR 216m.
EUROPE - Industri Kapital re-brands as IK Investment Partners
Industri Kapital has changed its name to IK Investment Partners (IK) to mark the evolution of the firmтs investment and geographic focus.
GLOBAL - Bear Stearns private equity arm to spin out
Bear Stearns Merchant Banking, the private equity arm of investment bank Bear Stearns, is to spin out into an independent company.
Q&A - Before the thaw
Stuart Hewer, new head of leveraged finance for Germany at RBS, admits that his pipeline is sluggish. But the worst of it is over and that a recovery should be expected in early 2009. Mareen Goebel reports
EUROPE - Mezz cashes in on new markets
One manтs loss is another manтs gain and nowhere is this clearer than in the subordinated debt market right now. Anecdotal evidence suggests the layer is set for its headiest days yet, with mezzanine now accounting for up to 2x EBITDA on average in a...
SPAIN – Iame launches Brand Capital
Iame Capital Riesgo has launched Brand Capital Made in Spain (BCS), a EUR 500m fund designed to invest in the Spanish fashion, jewellery, and leather sectors.
FINLAND/RUSSIA - CapMan buys Russian private equity firm
CapMan has acquired Russian private equity firm Norum and will take over ownership of Norum Russia Fund III, which is currently in the fundraising process. The intial purchase price is EUR 3.4m, which will increase as the fund size increases.
CEE – Private equity houses withdraw from Euromedic auction
Five of the nine private equity houses that had shown interest in Warburg Pincus-owned Hungarian healthcare group Euromedic have reportedly declined raising first round bids in the auction process, which is being led by Rothschild.