Industry
FRANCE - Natixis shows providence with Provident
According to reports, Natixis Private Equity has decided to wind down its subsidiary Provident, which focuses on restructuring opportunities.
GERMANY - Leonardo files EUR 5m lawsuit against management company
Leonardo Venture is suing its former management company, Leonardo Venture Capital GmbH, for damages totalling around EUR 5m on the grounds of alleged dereliction of duty.
UK - Albion to move offices
Albion Ventures (formerly Close Ventures) is to move offices at the end of March 2009.
UK/ASIA - SJ Berwin goes East
SJ Berwin has announced plans to open a new office in Hong Kong covering China and East Asia, which will be headed up by new managing partner Daniel Liew.
LUXEMBOURG - Alter Domus expands Asian presence
Luxembourg-based Alter Domus, a provider of outsourced fund administration services, has acquired Asian rival Skye Fund Services.
GERMANY – KKR and Permira to restructure ProSiebenSat1 debt
KKR and Permira are reported to have hired Houlihan Lokey to negotiate a restructuring of almost EUR 2bn of debt in portfolio broadcasting company ProSiebenSat1.
UK - Former 3i exec to launch new venture firm
Former 3i executive Laurence Garrett is reportedly launching a new venture capital firm, Ethean Capital.
EUROPE - KPE to transfer $211m in co-investments
KPE, the Amsterdam-listed arm of Kohlberg Kravis and Roberts (KKR), is to transfer five co-investments representing $211m in fair value to a KKR sponsored co-investment fund for an aggregate purchase price of $200.4m in cash.
USA/UK - Lion Capital provides $80m loan to American Apparel
In a sign of private equity firms adapting to the new environment, London-based Lion Capital has provided AMEX-listed clothing retailer American Apparel with an $80m loan.
UK - Possible offer for Candover
Candover Investments Plc has confirmed that it has received indicative expressions of interest to acquire the business.
GERMANY/SWITZERLAND/UK - KKR looking to acquire Phoenix for Boots
Reports suggests that KKR-backed Alliance Boots has approached Phoenix Group, Germany's biggest drug wholesaler, to acquire the business.
GLOBAL - Lehman Brothers Private Equity changes name
Lehman Brothers Private Equity Partners is changing its name to NB Private Equity Partners Ltd.
EUROPE – PE to be PR nightmare
"The trends that emerged over recent years have fundamentally interfered with the alignment of interests between GPs and LPs," commented Roberto Quarta of Clayton, Dubilier & Rice Europe, speaking at what can best be described as a reflective EVCA Investors...
ICELAND - Baugur files for bankruptcy
Iceland investor Baugur Group files for bankruptcy as the company's petition for extension of the moratorium, an Icelandic legal process for creditor protection, was refused by the District Court of Reykjavik.
SWEDEN - Apax to close Stockholm office
According to press reports, Apax Partners is to close its Stockholm office.
UK - Hotbed launches £10m EIS portfolio
Investor syndicate Hotbed has launched a ТЃ10m Enterprise Investment Scheme (EIS) portfolio.
FRANCE - Banexi Capital Partenaires becomes Azulis Capital
Banexi Capital Partenaires has rebranded itself Azulis Capital.