Industry
UK spin-offs are undersold – report
Corporate spin-offs could result in bargains for private equity buyers as many firms selling non-core units are focused on a speedy cash injection rather than long-term strategic objectives, according to research from Ernst & Young.
Germany quiets down in Q4
After a substantial increase in deal activity in Q3, the German private equity market grew quieter again towards the end of 2012.
Sponsored video: Bribery Act threat still looms
Bribery Act
KPMG survey highlights importance of management expertise in buyouts
A survey conducted by KPMG and Directorbank shows that businesses look for management expertise when selecting a private equity backer.
ABN Amro paid €20m compensation to AAC Capital
ABN Amro paid Dutch private equity firm AAC Capital €20m in compensation in 2011, after it could not honour a €2bn commitment to AAC's fund, according to local press reports.
Pension funds failing to stick up for private equity
Speaking up for PE
CVC and RBS sell $290m stake in Samsonite
CVC Capital Partners and the Royal Bank of Scotland (RBS) have sold a $290m stake in Hong Kong-listed luggage brand Samsonite International, according to reports.
Dunedin hits £240m for first close
Dunedin has held a stealth first close on ТЃ240m for its third buyout fund, indicating its target is comfortably within reach.
Axa PE to arrange unitranche for IPH buyout
PAI partners is believed to be looking to raise a €180m unitranche facility from Axa Private Equity to finance its buyout of industrial supplies distribution company IPH.
3i to offload more assets
3i is looking to sell at least four of its portfolio companies, according to reports, as it continues to refocus its strategy.
Ex-BVCA chair Nash becomes schools minister
Former British Venture Capital Association (BVCA) chair John Nash has been appointed schools minister.
ADM Capital et al. looking to exit Turkish hospital
An investor group including ADM Capital, Dutch pension fund PGGM and the International Finance Corporation (IFC) are looking to exit Turkish hospital chain Universal Saglik Yatirimlari, according to reports.
French private equity's 2012 highlights
Last year is likely to be one to remember for French private equity practitioners – but not necessarily for the right reasons. Unquote” looks back on five significant developments that took place in 2012.
PPF Group regains control of private equity operation
CEE-focused financial services group PPF Group has acquired 27.5% of its own private equity funds business from Italian insurer Assicurazioni Generali.
Cinemas could be the big deal in 2013
While Terra Firma is considering getting out of the movie business, its private equity competitors could see some very attractive investment opportunities this year.
Groupama completes disposal of private equity unit
French insurer Groupama has sold Acto Mezzanine and fund-of-funds Quartilium – the remaining entities of Groupama Private Equity – to ACG Private Equity.
Italian private equity's 2012 highlights
2012 in review: Italy
Terra Firma looking to sell Odeon
Terra Firma is again looking to sell cinema chain Odeon & UCI Group in 2013, potentially raising up to ТЃ1bn, according to reports.
Merry Christmas from unquote"
The unquoteт team would like to wish all our readers a Merry Christmas and a Happy New Year.
European Commission adopts implementing rules for AIFMD
The European Commission has published the Level Two Delegated Acts for the Alternative Investment Fund Managers Directive (AIFMD), which will now have to be implemented on a national level by July 2013.
Headcount and turnover on the rise for French PE-backed businesses
French private equity-backed companies have seen their turnover and headcount grow by 9.1% and 5.2% respectively in 2011, according to a recent study by trade body AFIC and Ernst & Young.
Government to investigate Comet collapse
Vince Cable is to launch an investigation into the demise of electricals retailer Comet, which had been bought by turnaround specialist OpCapita in November 2011 before going into administration a year later.
German PE set to suffer tax blow
While German private equity breathes a sigh of relief over AIFMD implementation, a new threat of tough taxation is rearing its head.
Nordic Capital execs lose tax case
Nordic Capital executives will have to pay income tax on their carried interest, a Swedish Court says.