Industry
UK - Close Ventures spins out; renames itself Albion
Close Ventures has bought itself out from the Close Brothers Group umbrella.
UK - Praxis acquires IASL
Praxis Fund Services has announced the signing of an initial agreement to acquire rival fund administration business Investec Administration Services Ltd.
UK - Cognetas in restructuring talks
It is understood that Cognetas is in talks with lenders about restructuring the debts in four of its portfolio companies, namely: SGD, the 110-year-old French glassmaker; plastic surgery group Covenant Healthcare, owner of the UK's leading breast enhancement...
US - Obama appoints VC to head Small Business Administration
Newly inaugurated US President Barack Obama has appointed Karen Mills Gordon to head up his Small Business Administration, demonstrating his faith in private equity as a driver of economic growth.
UK - Permira sends capital call for NDS acquisition
Permira has sent out capital call letters to investors in order to raise $917.8m for its proposed take-private of Nasdaq-listed UK security business NDS, reports suggest.
SPAIN - Allegiance opens Madrid office and appoints partners
Dallas-based Allegiance Capital, a full-service investment banking firm, is opening of an office in Madrid.
UK - Asset based lending to increase
According to new research conducted by the Asset Based Finance Association (ABFA), asset based lending is increasingly being used as a means to raise funds and capital by businesses starved of bank financing.
UK - CDC commits USD 40m to Asian SMEs
CDC Group Plc will make new commitments of USD 40m in total to two private equity funds which focus on investments in SMEs in south-east and central Asia.
FINLAND - Bridgepoint launches EUR 162m offer for Terveystalo
Bridgepoint has launched a cash offer for listed Finnish healthcare provider Terveystalo Healthcare Oyj valuing the company at EUR 162m.
UK - Private equity to rescue Wolseley
Reports suggest that several private equity houses are among the potential investors in talks to save quoted building materials retailer Wolseley.
FRANCE - Private equity groups circle Caceis
According to reports, TPG, CVC Capital Partners and Advent International are seeking to table bids for the 45% stake for sale in asset custody company Caceis, which is valued at between EUR 1.5bn and EUR 2bn.
UK - 3i-led consortium to bid for Gatwick
According to reports, a consortium led by 3i and two Canadian pension funds is among at least five groups set to present their non-binding offers to Ferrovial for Gatwick airport, with analysts suggesting that the airport could be valued at ТЃ2bn.
GLOBAL - Blackstone to invest in South Korea
According to reports, Blackstone Group will open a unit in South Korea in January.