Industry
Due diligence: Levelling the playing field
In a market dominated by distressed sales and complex restructuring operations, the role of intermediaries has taken on renewed significance, writes Ashley Wassall
UK - Pamplona challenged for stake in Chaucer
Pamplona Capital is reportedly being challenged for its stake in London-based insurance underwriter Chaucer Holdings by Lloyd's of London insurer Brit Insurance, which has made a takeover offer valuing the company at ТЃ220m.
GERMANY - Warburg seeks buyer for Easycash
Reports indicate that Warburg Pincus has hired UBS to find buyers for credit cards payment processing company Easycash, with the sale expected to be worth anywhere up to EUR 300m.
IRELAND - AIB and BOL reduce TVC stakes
AIM-listed private equity fund TVC Holdings has reportedly seen two of its institutional investors, Allied Irish Banks and Bank of Ireland, reduce their shareholdings in the vehicle after the recent release of the company's financial results.
UK - Bramdean Alternatives replaces board
London-based fund-of-funds Bramdean Alternatives is reportedly replacing its board after Iranian born-entrepeneur Vincent Tchenguiz, the firm's largest investor, won a vote to do so in an effort to wind down the fund.
GLOBAL - KKR may not float
Reports suggest that private equity firm Kohlberg Kravis Roberts & Co (KKR) is rethinking its plans to float on the NYSE.
CZECH - CCMP and Bancroft look for buyers for Nowaco
According to reports, private equity firm CCMP Capital Advisors is seeking a buyer for its chilled and frozen food distributor Nowaco Central Europe, with the price tag thought to be around EUR 250m.
UK - 3i stops salary hikes and bonuses to top management
In its annual report, published this month, 3i has announced that it has halted salary increases and bonuses to its senior management.
UK - JPEL to raise up to $100m
London-listed specialist secondary investor JP Morgan Private Equity Limited (JPEL), formerly Bear Sterns Private Equity, plans to raise between $50m to $100m to take advantage of opportunties in the secondaries space.
GLOBAL - LPs suggest trouble ahead
A quarter of all private equity fund managers will go out of business and a tenth of investors could default on capital calls; industry LPs reveal their sombre side.
UK - BC Partners to back EUR 1.7bn Baxi merger
It is understood that BC Partners- and Electra Partners-owned boiler manufacturer Baxi is closing in on a EUR 1.7bn merger with its Dutch counterpart De Dietrich Remeha Group, with the private equity backers thought to be likely to invest a further EUR...
From self- to over-regulation
Dr Markus Schackmann and Dr Angelika Yates of Luther examine the proposed EU Directive on Alternative Investment Fund Managers and its expected impact on the German private equity industry
GP diligence
Deborah Sterescu speaks to Helen Steers, partner and head of European primary investment at Pantheon Ventures, on issues ranging from backing new fund managers to heightened due diligence in today's climate