Industry
IRELAND - Goverment takes Anglo Irish Bank into public ownership
The Irish government has decided to take control over Anglo Irish Bank Corporation, stating that the bank's viability is of systemic importance to the country.
ITALY - Clessidra to take minority stake in Cavalli
Market rumour suggests that Clessidra will take a 15-20% stake in fashion design house Roberto Cavalli.
SWEDEN - Swedish law firms Lindahl and RydinCarlsten to merge
The two law firms join forces in February 2009, and the combined unit will employ 200 corporate lawyers.
UK - SEP will cap exposure to Permira IV
Standard Life European Private Equity Trust (SEP) has taken up the offer to cap commitments to Permira IV as part of a wider restructuring, which has also seen the group sell two of its other partnership interests.
UK - Hilco considers Allied Carpet acquisition
Reports suggest that turnaround specialist Hilco is considering an acquisition of flooring retailer Allied Carpets.
UK - BVCA calls for banks to actively support businesses
Following the ТЃ20bn loan guarantee given by the government today, the BVCA said the package must involve a culture change in banking which encourages banks to actively support companies and back investors who would like to rescue failing businesses....
UK - BVCA reports on performance of portfolio companies
The BVCA and Ernst & Young have published its first annual report on the performance of portfolio companies.
UK - BIIF acquires Infrastructure Investors
Barclays Integrated Infrastructure Fund (BIIF), a new fund managed by Barclays Private Equity, has acquired Infrastructure Investors, a portfolio of 84 investments in operational PFI/PPP projects, for ТЃ558.6m.
UK - Private equity considered attractive succession solution
A new report conducted by Barclays Commercial Bank and the Institute of Directors has found that 21% of UK business owners and senior managers consider private equity to offer the best succession solution.
UK - Oxford and Pi announce partnership
Oxford Capital and Pi Capital have announced the formation of a strategic partnership.
SPAIN - ProA shortlisted for Acciona parking business
According to reports, ProA Capital is one of four bidders shortlisted in the ongoing sales process for Acciona's parking business.
UK - GMG confirms strong conformity with Walker guidelines
The Guidelines Monitoring Group (GMG), established in March 2008 to provide oversight on the Walker disclosure guidlines relating to portfolio companies, has published its first review, which found that the majority of the 30 portfolio companies reviewed...
EUROPE - Value of buyouts plunges to five year low
The value of private equity-backed acquisitions across Europe fell to a five-year low in 2008 amidst continuing illiquidity in the debt markets and a worsening macroeconomic climate, dropping by 61% from 2007's record high of more than EUR 184bn to EUR...
Rocky road
Never have crystal balls been hazier for the year ahead. Here several professionals share their views on what to expect for 2009
The rise and fall ... of the UK private equity market
unquote" reflects on the ups and downs the domestic market has seen since the newsletter began tracking it in 1992
CEE - EBRD to commit EUR 50m into regional mezz fund
EBRD is to invest up to EUR 50m into Accession Mezzanine Capital III, a vehicle managed by Mezzanine Management Central Europe that focuses on Central and Eastern Europe and has a target size of EUR 350m.
CEE - EBRD considers EUR 40m commitment to 3TS CEE Fund III
The EBRD is studying the possibility of investing up to EUR 40m, but not exceeding 20% of total aggregate commitments, in 3TS CEE Fund III, a regional private equity fund with a target size of EUR 200m.
GLOBAL - LBPE agrees to buy back more shares
Lehman Brothers Private Equity Partners has amended the liquidition enhancement agreement from July 2008 to raise the amount of shares it can buy back.
SPAIN - PE investment drops 32% in 2008
According to recent figures released by the Spanish Venture Capital Association (ASCRI), private equity invesment has dropped by 32% in Spain to reach EUR 2.9bn, close to 2006 levels.
FRANCE - PAI backed Kaufman & Broad changes credit terms
PAI Partners-backed property developer Kaufman & Broad has reduced its credit facilities to EUR 75m and adjusted its covenant agreements with its banks.