GPs
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 Allégot.
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.
ITALY - Clessidra in talks with MPS over asset management unit
Clessidra and FRM Holdings Ltd are in talks with MPS over the acquisition of a 66% stake in MPS's Asset Management unit.
CEE – IDI launches IDI Emerging markets
IDI has launched IDI Emerging markets owith a target of EUR 216m.
UK - First Reserve launches Torus
First Reserve Corporation, the US-based firm focused on investing in energy related businesses, has provided USD 720m to back the launch of Torus Insurance.
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 firm’s 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 man’s loss is another man’s 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...
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.
Survival of the fittest
Consolidation will continue as VCT firms without experience and scale get swallowed up, says Mark Wignall at Matrix Private Equity Partners
CEE – Kala Capital launched in Georgia
Kala Capital, a new closed fund dedicated to investments in Georgia, has been launched by former Georgian Prime Minister, Zurab Nogaideli, and former captain of the Georgian national football team and Italy’s AC Milan player, Kakha Kaladze.
ITALY – New private equity operator Sator gets green light
Sator, the private equity and asset management company led by Matteo Arpe has been granted the go-ahead to begin fundraising in May.
UK - Aberdeen continues VCT consolidation
Aberdeen Asset Managers has been appointed fund manager to the Gateway VCT, the latest in a series of consolidation moves in the VCT segment.
ITALY – Cape to back new investment firm
Listed vehicle Cape LIVE will invest EUR 5m in DVR&C, an investment firm still in formation which will be structured as a private equity fund.
Europe - 3i abandons early-stage investments
3i Group is abandoning early-stage investments in start-up companies.
Q&A - GPs
Recently undertaken fundraising efforts have proven encouraging for both established houses such as Investindustrial and N+1 and newcomers such as Magnum. GPs are adapting, offering investors alternatives through which to add value to portfolios. Francinia...