Industry
GERMANY - JC Flowers files lawsuit against HRE following squeeze-out
JC Flowers has confirmed that it has filed a lawsuit to fight the full nationalisation of banking group Hypo Real Estate Holding, which was confirmed at the lenders' annual general meeting last week.
GLOBAL- Stanford University puts $1bn of assets on the block
Palo Alto-based Stanford University, one of the largest endowments, has put as much as $1bn of its illiquid investments up for sale in an effort to raise cash for the cash-strapped institution.
Searching for distress
As we bear the brunt of the recession, more investors are looking to make money through distressed debt. Can private equity play along? Deborah Sterescu investigates
Corbett Keeling Corporate Finance
Third quarter 2009 - light at the end of the tunnel?
ITALY/MALTA - Denham-back SunRay secures EUR 120m financing
Denham Capital-backed SunRay Renewable Energy has secured EUR 120m project financing to build a 24MW plant in Montalto di Castro.
GLOBAL - KKR finally completes KPE merger
After over a year of delays and revisions, US-based private equity giant KKR has now completed its merger with its Amsterdam-listed affiliate, KKR Private Equity Investors.
EUROPE - GPs must re-invent, LPs must invest
Europe's GPs must change their ways to emerge successful from the current market conditions, and need LPs to back them in order to do so. This was the theme this morning at the fourth annual Deutsche unquote" Private Equity Congress in Munich.
"Today, the balance is shifting towards sellers after the long reign of vendors"
Joost Siemensma at Grant Thornton speaks to Domitille Lainey about the changes in due diligences in the acquisition race. Siemensma specialises in due diligence investigations for private equity investors. Previously he worked at KPMG and Deloitte Transaction...
Good business
Though environmental, social, and governance-driven investing may be winning more advocates - highlighted by signataries to the UN's PRI - we may still be a way from systematic implementation of a responsible investment strategy that goes beyond a commercial...
GPs must re-invent, LPs must invest
Europe's GPs must change their ways to emerge successful from the current market conditions, and need LPs to back them in order to do so. This was the theme at the fourth annual Deutsche unquote" Private Equity Congress in Munich. Mareen Goebel and Kimberly...
Split LP universe
Market talk suggests the power balance has shifted in favour of LPs. Thomas Wold, investment director at Storebrand, shares his views with Rikke Lilla Eckhoff
A long and winding road
Rikke Eckhoff talks through 20 years of private equity with industry pioneer and veteran Bjorn Saven, founder and executive chairman of IK Investment Partners
FRANCE - Mid-market valuations drop further
According to Argos Soditic's H1 Mid-Market Index 2009, the valuations of unlisted mid-market companies in the euro zone have fallen for a fourth consecutive semester to its lowest level since the index was launched in December 2004.
GERMANY - PEF donates to two German charities
The Private Equity Foundation has donated to two Germany-based charities, taking the funds' total investment in the country to EUR 400,000.
Q&A - Neil Harper
Head of European Investments, Morgan Stanley Alternative Investment Partners
Playing a long game
The current market requires patience and adaptability. Kimberly Romaine reports
Covenant amendment and maturity extension: the new refinancing?
Corinna Mitchell. a partner of Dechert LLP, outlines the options for companies inching towards default, and suggests the quickest solutions may not be best for the long-term health of the company
FRANCE - PAI offers investors to halve commitment
PAI Partners has offered to return up to 50% of undrawn commitments back to investors in its fifth fund, following the departure of chief executive Dominique Megret and his right hand man Bertrand Meunier, which triggered a key man clause.
EUROPE - ML Capital launches alternative assets advisory service
ML Capital has today launched an alternative assets advisory and business solution service, dedicated to advising private equity and hedge fund managers on how to meet current market expectations.
DACH - German Private Equity Partners in liquidation
German Private Equity Partners, which was founded in August 2007, is being liquidated.
EUROPE – Specialist or generalist ?
"We will see a shift from local generalist funds to global sector specialists," said Simon Havers, BVCA chairman and managing director of Baird Capital Partners Europe. He was speaking at this morning's Capital Creation panel, which debated the future...
EUROPE – Remuneration a hot topic
A central theme this morning at the Capital Creation event was remuneration: As bankers worldwide prepare for their compensation packages to shrink, many in the private equity industry are championing maintaining the high levels of salary and bonus paid...
GLOBAL - KKR to delay launch of next buyout fund
Reports suggest that KKR is delaying the launch of its next buyout fund until next year, after having already invested 70% of its previous $17.6bn vehicle that closed in 2007.
GLOBAL - IPEV publishes updated valuations guidelines
The International Private Equity and Venture Capital Valuation (IPEV) Board published its updated version of the Private Equity Valuations Guidelines today. Significantly, the updated version highlights the importance of consistency with international...