Industry
Federated Investors buys Hermes from BT Pension Scheme
Vendor BT Pension Scheme will retain a 29.5% stake in the manager after the deal
CEE exit activity picks up in Q1 as buyouts drop
First quarter saw a significant drop in both buyout volume and aggregate value in the region, though the number of exits is up, year-on-year
France's Pragma Capital rebrands, eyes new fund launch
Pragma, which underwent a succession plan in 2016, will now be known as Sparring Capital
Nordic buyout market soars in Q1
Acquisitions in the region reached the highest aggregate value ever recorded in the first quarter of the year
Axa Strategic Ventures rebrands to Axa Venture Partners
Rebrand reflects approach of establishing partnerships with portfolio companies and VC investors
Norway's government steers sovereign wealth fund away from PE
Investing in unlisted assets poses challenges to cost effectiveness and transparency, ministry says
Benelux's biotech and pharma buyouts market in rude health
Buyout houses are becoming more attracted to assets in the Benelux biotech and pharma spaces, typically the preserve of venture capital investors
DLA Piper hires Vandenbussche and Pinkham
Law firm hires partner Vandenbussche and senior counsel Pinkham to strengthen PE arm
European Commission launches VentureEU
VentureEU is a venture capital funding programme backed by тЌ410m in fresh funding from the EU
C5 appoints Cooke as managing partner
In his new role, Cooke will take responsibility for all aspects of fundraising and IR
Apax opens Milan office, appoints Revel-Sillamoni as head
Francesco Revel-Sillamoni will lead the new office with the support of senior adviser Francesco Panfilo
Japanese insurance companies eye DACH funds
Insurance companies in Japan are considering increasing their exposure to European funds, with DACH GPs most likely to benefit
European fundraises off to healthy start in 2018
Number of fund closes and aggregate capital raised in Q1 is roughly on par with the same period last year, but short of the strong start to 2016
EdRip completes spinout from Edmond de Rothschild
Fully independent French firm with €2bn in AUM will operate under the name Andera Partners
Ontario Teachers' chief investment officer Graven Larsen resigns
Graven Larsen joined Ontario Teachers' in February 2016 and led the fund's global investment programme
Iris hires Capnamic principal to expand Berlin team
Berlin team expansion will continue with further appointments in the coming months
GCP promotes Shaw to partner
Shaw joined GCP in April 2012 and was previously an investment director at the firm
French VC fundraising shifts towards sector specialisation
A number of specialist VC funds have held first or final closes in recent months, bringing distinct advantages and risks in equal measure
BC's Bott to retire
Charlie Bott joined the GP in 2009 and recently oversaw the raise of BC European Capital X
Highland Europe hires Tardy-Joubert as advisory partner
Tardy-Joubert was previously founder and head of Qatalyst Partners' European practice
Point Nine hires in-house general counsel
Hire will allow Point Nine to execute faster on investments and save money on external legal costs
Consumer uncertainty sees retail feeling the pinch
PE-backed retailers are increasingly following casual dining chains in showing signs of struggling under the downturn in UK consumer confidence
Eversheds hires Karwacki from Squire Patton Boggs
Michal Karwacki will be working as a partner in the law firm’s corporate practice group
US pension fund seeks manager for $120m mandate
City of Fresno Retirement Systems, a $3bn pension fund, will invest $120m over three to four years