GPs
EUROPE – 3i Group acquires 3i Quoted
3i Quoted Private Equity today agreed to be acquired by 3i Group in a deal that values 3i QPEP at £355.2m. The acquisition will be effected through a solvent liquidation of QPEP, allowing 3i to acquire the 55% stake in 3i QPEP it did not already own.
EUROPE - 3i sells stake in Infrastructure
Listed private equity firm 3i has reduced its stake in its infrastructure fund to a third after selling 77 million shares. The placing raised £61m towards the £2bn debt pile the investor has accrued; half of which is due in the next three years.
EUROPE – Activist shareholder mulls 3i QPE takeover
AIM-listed investment group Crystal Amber has taken a stake in 3i's Quoted Private Equity and is reported to be in talks with management and 3i regarding delisting the fund.
EUROPE - Clemens Vedder branches out into private equity
Clemens Vedder's Goldsmith Investments has launched a private equity fund targeting EUR 700m to EUR 1bn of assets.
EUROPE - Baugur to collapse
Baugur is set to go into administration after its main banker, Landsbanki, ended restructuring talks with the once-prolific Icelandic investor.
Permira's plight
Permira is letting its investors scale back. Reactions are mixed
UK - SVG caps commitments and launches £200m rights issue
SVG Capital Plc has announced that it will take up the offer from Permira, its primary investee fund manager, to cap commitments to Permira IV at 60% and simultaneously launch a partially underwritten rights issue and placing to raise £200m.
60 seconds - Henri Isnard - ARCIS
Francois Rowell meets the co-founder and managing partner of Anglo-French investor ARCIS, to ask how the credit crunch has affected the secondaries market. ARCIS have just closed their fourth fund on EUR354m
Follow the leader - again
Permira is letting its investors scale back. The move is wise, as it benefits many, and is first to market
UK/FRANCE - Apax sued over profit split
Apax Partners co-founder Maurice Tchenio is sueing the firm in a dispute over how profits and fees were split on deals in Europe since 2001.
EUROPE - Antin Infrastructure Partners launch announced
Antin Infrastructure Partners, a new fund management business focusing on the infrastructure space and affiliate of BNP Paribas Asset Management, announced its launch this morning at a briefing in London.
UK - SVG attempts to scale back payments
SVG Capital has been reported as talking to Permira, of which it is the largest single investor, regarding a scaling back of future payments.
EUROPE - CVCs remain optimistic
Corporate Venture Capitalists (CVCs) remain optimistic about investment activity in Europe according to a survey published by Ernst & Young, with respondents anticipating that Europe will be the second most important market globally over the next 24 months,...
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 £622m in 2008 compared to more than £1bn 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.