Industry
Pamplona to leverage OGF purchase with €635m debt package
The recently announced buyout of French funeral services operator OGF by Pamplona will be financed by a €635m debt package, according to media reports.
Lion's Picard issues €480m floating rate note
Picard Surgelés, a French portfolio company of Lion Capital, has issued a €480m floating rate note to refinance part of its debt.
SJ Berwin-King & Wood merger gets green light, creates $1bn global giant
SJ Berwin has sealed its merger with Asia-Pacific giant King & Wood Mallesons (KWM), creating a $1bn (£657m) firm, with the SJ Berwin name set to disappear after a transitional period.
Alternative lenders outpace Business Bank
The UK government’s Business Bank has dished out only £300m in SME loans since inception, compared with £345m provided by alternative lenders in short-term secured loans.
Umbrella services: Q&A with Lawson Conner
This month saw the foundation of the UK Compliance and Regulatory Association (UKCRA). Alice Murray speaks to regulatory services business Lawson Conner, one of the founding members, about how the new entity can guide the asset class through the complex...
Wonga controversy highlights need for stronger reporting
Wonga controversy
Bridgepoint asks for extension on 2008 fund
Bridgepoint has asked investors in the €4.8bn Bridgepoint Europe IV (BE IV) vehicle for a 12-month extension of the fund’s investment period, which was due to end in November this year.
Swedish courts to rule on internal loan interest rates
The Swedish Supreme Administrative Court, HFD, may give clearance on the investigation into internal loan interest rates this autumn.
Mid-cap valuations remain stable as dealflow stagnates
Mid-cap valuations
United Internet Ventures acquires 25% stake in Open-Xchange
United Internet Ventures (UIV), the corporate venture arm of United Internet, has taken part in a $20m investment in German email services provider Open-Xchange.
100% Italian-backed B4 boosts small-cap segment
There’s a new kid on the block in Italian private equity: launched in mid-2012, B4 Investimenti began operational activity in September last year, completed its maiden investment in July and is well on the way to closing its first fund. Amy King reports
Special Report: AIFMD
Special Report: AIFMD
Refinancings drive activity in loan market
Portfolio company refinancings accounted for 63% of loans issued across Europe in the first half of this year, while M&A activity made up just 32% of the total.
CVC hits €10.5bn hard-cap
CVC Capital Partners has closed its sixth fund, CVC Capital Partners VI, on €10.5bn.
Fund managers in AIFMD staffing spree
Up to 58% of AIFMs are either employing or are considering employing additional back-office staff to help compliance preparations for the impending AIFM directive, according to a survey conducted by Kneip.
Dunedin fund surpasses target to reach £300m final close
Dunedin has closed its latest vehicle on £300m, comfortably surpassing its £250m target.
Private equity on the road to recovery
Following a month of stellar exits, an uptick in buyouts and a record number of fundraisings, there is reason to believe private equity markets are turning a corner. Kimberly Romaine reports.
Funds-of-funds falling out of favour?
Funds-of-funds
3i continues exit run
Listed private equity group 3i has reported £195m's worth of exits over the last quarter through the sale of Civica and the US listing of Quintiles – but made no new investments.
3i bonuses to spark shareholder revolt
Ahead of 3i’s annual meeting on Thursday, shareholder lobby group PIRC is urging stakeholders to vote against the listed firm’s executive bonuses.
AIFMD adopted in Luxembourg
The AIFM directive has been adopted by the Luxembourg Parliament and will officially come into effect in the country’s law system on 16 July.
SEC lifts fund advertising ban
The Securities and Exchange Commission (SEC) has removed the prohibition on general solicitation and advertising for VC firms and PE houses when raising private funds in the US.
Markit moves into buyout valuations
Financial information services company Markit has launched Markit Portfolio Valuations – Private Equity, an independent valuation service for growth and buyout equity investments.
Listed funds' share prices jump 25%
Average listed private equity company share prices have risen 25% over the last year, and by 72% over the last three years, according to data published by the Association of Investment Companies (AIC).