CEE
POLAND - ARX backs pet retailer Kakadu
ARX Equity Partners, an independent firm spawned from DBG Eastern Europe, has acquired a majority stake in Polish retailer Kakadu Sp. z o.o.
EUROPE - Allen & Overy to cut back banking teams
Law firm Allen and Overy, which earlier this year announced that it was to make a series of redundancies as part of a wider restructuring, is reportedly planning to substantially scale back its banking teams worldwide, which could lose as much as a third...
GLOBAL - Riverside promotes 12 and hires four
International private equity firm The Riverside Company has promoted 12 employees and hired three investment professionals as well as a new assistant director of marketing and communications.
Beauty or the beast?
Private equity's bad rap has spread from trade unions to vendors to Brussels. The industry will overcome this for myriad reasons: its attempts to stave off negativity; its ability to efficiently execute deals and, most of all, the fact that sellers may...
GLOBAL - Blackstone writes down fifth fund by 35%
According to reports, Blackstone Group has written down the value of the portfolio in its $21bn fifth fund, Blackstone Capital Partners V, by 35%.
EUROPE - Index Ventures V closes on EUR 350m
Index Ventures has held a final close of its fifth fund, Index Ventures V, on EUR 350m.
EUROPE - Candover reveals full extent of downturn
Candover Investments Plc today announced its final year results for 2008, revealing a sharp aggregated writedown of more than 50% in NAV following five successive years of increases.
EUROPE - Baird bolsters business services team
Baird has strengthened its investment banking advisory business with the hire of Jonathan Harrison as a director within its European business services sector team.
RUSSIA – PGP completes reorganisation; hires eight
Russian law firm Pepeliaev, Goltsblat & Partners (PGP) has completed a reorganisation and hired eight new professionals, after several of its lawyers left to join UK law firm Berwin Leighton Paisner LLP earlier this year.
UK/ITALY - Candover writes off Ferretti investment
Candover is opting out of the restructuring of portfolio company Ferretti, an Italian yacht manufacturer, completely writing off its investment in the business.
SICAR amendments are good news for GPs
In October 2008, Luxembourg's dedicated regime for private equity funds was updated. The possibility to create subfunds and the significant enhancement of the Luxembourg Limited Partnership are the two key innovations
EUROPE - Commission holds hearing on PE regulation
The EU Commission is today in Brussels holding its hearing into private equity regulation and conduct in Europe, in what should be a significant step towards a conclusion of the long running political debate. Prior to the conference, an industry "task...
GLOBAL - Lehman sells venture capital arm
Lehman Brothers has fully divested its US-based venture capital arm Lehman Brothers Venture Partners through a sale to the current management team, backed by HarbourVest Partners.
GLOBAL - GIC and Future Fund acquire 7.7% of Apax
Apax Partners has sold nearly 8% of it its management company and future carried interest to GIC Special Investments and Future Funds, two Asian-Pacific investors.
EUROPE – 3i Group acquires 3i Quoted
3i Quoted Private Equity today agreed to be acquired by 3i Group in a deal that values 3i QPEP at £355.2m. The acquisition will be effected through a solvent liquidation of QPEP, allowing 3i to acquire the 55% stake in 3i QPEP it did not already own.
EUROPE - 3i sells stake in Infrastructure
Listed private equity firm 3i has reduced its stake in its infrastructure fund to a third after selling 77 million shares. The placing raised £61m towards the £2bn debt pile the investor has accrued; half of which is due in the next three years.
EUROPE - Debt-free deals see sharp rise in Q4
According to unquote" data, more than a quarter of the 237 buyouts completed across Europe in the last three months of 2008 contained no acquisition leverage, while in the beleaguered UK a staggering 40% of Q4 buyouts were all-equity deals.
EUROPE - Candover downsizes fund
UK buyout house Candover has become to latest large-cap investor group to succumb to the pressures facing firms at the top of the market by announcing a reduction in the size of its latest fund.
EUROPE – Activist shareholder mulls 3i QPE takeover
AIM-listed investment group Crystal Amber has taken a stake in 3i's Quoted Private Equity and is reported to be in talks with management and 3i regarding delisting the fund.