CEE
EUROPE - KKR closes European annex fund
US-based buyout giant KKR has closed a EUR 400m annex fund to support additional equity investments for portfolio companies of its second European fund, which closed in 2005 on approximately EUR 4bn.
EUROPE - Candover reports further NAV decline; Buffin steps down
Bealeagured buyout firm Candover today released its interim management statement, which reveals a further 12% decline in NAV and sweeping changes to the firm's management.
EUROPE - Gimv appoints new technology adviser
Belgian-based investor Gimv has appointed Richard Seibt, chairman of the Open Source Business Foundation, to its Technology Advisory Board.
GLOBAL - Advent appoints operating partner
Buyout house Advent International has hired Richard Baker as operating partner.
GLOBAL - Ernst & Young appoints global PE leader
International business advisory firm Ernst & Young has appointed John Harley as the leader for its global private equity practice.
EUROPE - 3i may sell venture portfolio to Coller and HarbourVest consortium
3i is now reportedly in exclusive talks with a consortium led by secondary investors Coller Capital and HarbourVest Partners regarding the sale of its venture portfolio, with the price tag thought to be in the region of £100m.
GLOBAL - LGT Capital holds $268m first close of secondaries fund
LGT Capital Partners has held a first close of its global secondary fund, Crown Global Secondaries II (CGS II), on $268m.
GLOBAL- TA Associates closes 11th fund on $4bn
Private equity firm TA Associates has closed its latest fund, TA XI, on $4bn, comfortably surpassing its $3.5bn target.
CEE - Carlyle spinout Resource Partners attracts soft commitments
Resource Partners, the CEE private equity team spawned by Carlyle Group's attempt to set up shop in the region, is believed to be nearing a first close for its EUR 200m debut fund.
CEE - Bancroft, CCMP sell Nowaco for EUR 250m
CCMP Capital Advisors and Bancroft Private Equity have agreed to sell Central and Eastern European food delivery businesses Nowaco Group and Farutex to international distributor Bidvest in a EUR 250m deal.
LP perspectives
Following the downturn in the markets, the balance of power between GPs and LPs has shifted, giving LPs greater control. Deborah Sterescu speaks to three LPs to find out how their strategies and attitudes have changed
EUROPE - Osmosis appoints Agentius as fund adminstrator; bolsters team
London-based asset manager Osmosis Capital LLP, has appointed Augentius Fund Administration as the administrator for its forthcoming fund-of-funds.
Hungary/US - 3TS reaps 8.5x in CEE's largest tech IPO
Dedicated CEE investor 3TS Capital Partners has sold its shares in US/Hungarian remote-services technology business LogMeIn, generating a money multiple of 8.5x. The business, set up in Hungary and moved to the US, floated on Nasdaq at a market capitalisation...
EUROPE - Q2 figures buck downward trend
Amid widespread talk in the press of "green shoots" in the wider economy, there have been signs of a positive shift in private equity investment activity, according to the unquote" Q2 2009 Private Equity Barometer, produced in association with Candover....
Global - BC Partners writes up value of 2005 fund by almost 25%
Private equity firm BC Partners has reportedly marked up its current fund by almost a quarter in the first half, restoring it to face value.
EUROPE - Foresight appoints new sales director
VCT manager Foresight has hired Meredith Lee as sales director, based in the firm's Sevenoaks office.
HUNGARY - Permira's BorsodChem to get cash injection
Permira-backed Borsodchem, a Hungarian chemical business, may receive a loan from the Hungarian Development Bank (MFB) amounting to €100m. The injection is contingent upon Permira agreeing a debt restructuring of the company with lenders and Budapest.
ROMANIA - Advent backs Romanian pharma bolt-on
Advent International's Central & Eastern European team has done its third deal of the year with the bolt-on of Ozone Laboratories to its Romanian pharmaceuticals business LaborMed. Advent has provided additional equity to fund the deal, which includes...
GLOBAL - Calpers private equity assets plunge 23%
CalPERS' private equity assets have fallen 23% in the last year, the worst annual decline the nation's largest public pension fund has ever reported.
GLOBAL - KKR to merge with KPE
Kohlberg Kravis Roberts & Co (KKR) and Amsterdam-listed vehicle KKR Private Equity Investors LP (KPE) has obtained the necessary approvals to go through with the merger reported on unquote" news last month.
GLOBAL - Capital Dynamics acquires Silicon-Valley based HRJ
Capital Dynamics has confirmed the take-over of Silicon Valley-based HRJ Capital's private equity and real estate fund-of-funds, as reported on unquote" news in April, following the consent of the LPs of HRJ's funds.
CEE/AUSTRIA - Capexit dissolved; Kaltenegger leaves AVCO board
The industry shakedown has claimed a prominent victim in Austria: Capexit, the private equity arm of Erste Group that invested primarily in the Czech Republic, Austria and Slovakia, has discontinued operations, with the portfolio now in the hands of the...
GLOBAL - LP demand for responsible investment rising
According to a survey published today as part of a guide to responsible investing in pirvate equity, 93% of institutional investors would expect all their potential and future GPs to respond to questions surrounding environmental, social and governance...