Industry
EUROPE - Commission proposal launch lacks substance
At the time of writing the launch of the EU Commission's draft proposal covering private equity is still yet to be followed by the proposal itself, though this hasn't stopped it being greeted with a hostile response from industry trade bodies.
NETHERLANDS – CVC and KKR inject €520m into AVR/Van Gansewinkel
Private equity firms CVC and Kohlberg, Kravis and Roberts (KKR) have injected a €520m into their portfolio company waste management firm AVR/Van Gansewinkel.
CEE - What's happening in Central & Eastern Europe?
Once the hottest destination for Western European GPs to access new markets, Central & Eastern Europe has firmly debunked the de-coupling theory when it comes to the economic crisis (see story below). Join unquote on 21 May in London for the third annual...
Global - SJ Berwin to open in Dubai
SJ Berwin has announced plans to open an office in Dubai later this year - the firm's first office in the Middle East.
GLOBAL - Terra Firma to bid for AIG's aircraft leasing unit
Private equity house Terra Firma is reportedly one of three groups that will bid for American International Group Inc's aircraft leasing business, International Lease Finance Corp.
Don't let the sun set on your LP relationships
Diversification and communication are the best ways to ensure a smooth ride with your investors in CEE as in the rest of Europe. Kimberly Romaine reports
German protectionism
New legislative amendments in Germany designed to safeguard national businesses present a potential problem for private equity, writes Mareen Goebel
Insolvency legislation: adapting to change
The difficult economic outlook has prompted a series of changes to European insolvency laws, but are they sufficient? Charles Noel-Johnson of Close Brothers gives his insight.
LUXEMBOURG/UK - Alter opens Guernsey office
Luxembourg-based Alter Domus, a provider of outsourced fund administration services, has opened an office in Guernsey.
EUROPE - 3i considers issuing new shares
3i is considering a rights issue in an effort to reduce its debt pile, which totalled ТЃ2.1bn in December.
GLOBAL - KKR delays merger with European fund, again
Reports suggest that KKR has again delayed plans to merge with its Amsterdam-listed fund KKR Private Equity Investors (KPE).
GERMANY - Buyout groups circle Candover and Cinven's Springer
According to press reports, Candover and Cinven, the owners of Springer Science and Business Media, are making progress on divesting a minority stake in the business for about EUR 400m, with several major buyout houses said to be interested in a possible...
EUROPE - Investment continues downward slide
The retrenchment of the European private equity industry has reached troughs not seen since Q3 1996, according to the unquote" Q1 2009 Private Equity Barometer, produced in association with Candover. It reveals that the total value of transactions fell...
End of the line for large cap funds...
With large-cap investors currently stifled by concerns over LP liquidity and a lack of debt financing while the value of their incumbent portfolio's drop sharply, many are prophesising the end of the road for the space. By Ashley Wassall
Night of the living debt
How the recession caught the private equity industry by surprise. Rikke Lilla Eckhoff speaks to professor Tim Jenkinson, contributing author to the European Economic Advisory Group report of the European Economy 2009
Mezz gets set to face challenges
With financing options remaining limited, many continue to assert that there are opportunities aplenty for mezzanine houses in the current market. However, there are still a range of obstacles to be overcome, writes Ashley Wassall
RUSSIA - CapMan acquires remainder of Norum
Finnish investor group CapMan plc has acquired the remaining 49% of shares that it did not already own in Russian private equity house Norum, which operates as CapMan Russia.
FRANCE - Finama PE becomes Groupama PE
Finama Private Equity, a subsidiary of Groupama, has changed its name to Groupama Private Equity.
BELGIUM - PE drops out of Alpro auction
Reports suggest that the private equity firms initially interested in acquiring Alpro, the soy division of Gimv-backed Belgian food group Vandemoortele, have withdrawn form the process leaving only trade buyers in the auction.
UK - BVCA slams Budget
The British Private Equity and Venture Capital Association (BVCA) has reacted angrily to Alistair Darling's 2009 Budget, with chief executive Simon Walker claiming that the increases to the top rate of income tax "effectively end Britain's competitiveness"....
Counting the cost
The increasingly fraught economic climate continues to put pressure on buyout houses to preserve the value of their existing portfolios in order to survive