Industry
Adara launches second fund
Adara Venture Partners has started the fundraising process for its second fund, Adara Ventures II, with a target of $40m, according to a Form D filing with the US Securities and Exchange Commission (SEC).
Texas retirement fund commits €40m to Nordic Capital VIII
The Texas County & District Retirement System (TCDRS) has committed €40m to Nordic Capital's latest vehicle.
KKR dives into maritime debt void
KKR has established Maritime Finance Company, a new business focused on the lending gap in the European shipping market.
Goldman to become Duke Street investor
Goldman Sachs is to invest around €100m in Duke Street and is also considering acquiring secondary stakes in the GP's 2007 fund.
EQT to appeal tax decision
As expected, EQT Partners will appeal the Swedish tax authority's decision to tax carried interest as income, presenting some of the firm's staff with a SEK 670m tax bill.
Confidence in European venture remains low, says survey
GPs still display low confidence in European venture, according to a new survey by Deloitte and the US's National Venture Capital Association (NVCA).
Alliance Venture and Springfondet merge
Norwegian early-stage investment firms Alliance Venture and Springfondet have merged to form Alliance Venture Spring.
Italy: The state as entrepreneur
State support
SS&C GlobeOp opens new Luxembourg office
Connecticut-headquartered fund administrator SS&C GlobeOp has opened a new office in Luxembourg.
EQT loses battle in income tax war
EQT and a number of its employees will receive a tax bill of SEK 670m, according to Swedish newspaper Dagens Industri.
Ratos reports SEK 820m net profit for H1
Listed private equity firm Ratos made an SEK 820m profit before tax for the first half of 2013, compared with an SEK 16m loss in H1 2012.
GP churn boosts IRR
Further to initial findings announced in 2011, additional research by Capital Dynamics and London Business School’s Coller Institute of Private Equity has concluded that higher team turnover in buyout houses improves overall performance.
TEP seeks €100m for new fund
Time Equity Partners (TEP) has launched its second venture capital fund and is seeking to raise €100m, having already collected two thirds of its target, according to reports in the French press.
Exit focus: Italy's Ambienta reaps three-digit IRR
Exit focus: Tower Light
Exit focus: Italy's Ambienta reaps three-digit IRR
Exit focus: Tower Light
SVG enjoys 23% NAV boost in H1
SVG Capital has reported a 23% uplift in net asset value (NAV) in its half-year results, with shares now trading at 480p.
Sector focus: oil & gas still draws PE interest
To kick-start our new sector focus series, Ellie Pullen looks at private equity’s turbulent relationship with the oil and gas sector, and how events such as the Deepwater Horizon spill in 2010 have shaped investments in this space
Sweden mulls ban on PE ownership of schools
A new legislation proposal will aim to ban private equity firms from owning independent schools in Sweden, according to education minister Jan Björklund.
FCA calls for AIFMD applications by January 2014
The FCA has advised firms managing alternative investment funds (AIFs) to submit applications by no later than 22 January 2014, ahead of the official 21 July 2014 deadline.
Insuring deals: another layer of fees or vital protection?
Insuring deals
Grosvenor Capital acquires Credit Suisse’s PE FoF division
US-based fund of hedge funds Grosvenor Capital Management (GCM) has acquired the fund-of-private-equity-funds division of Credit Suisse, Customised Fund Investment Group (CFIG).
European venture: patience rewarded
Patience rewarded