CEE
UK/GERMANY - First London to launch EUR 50m fund
First London Securities has reached an agreement with Humbolt-Innovation GmbH to establish a joint EUR 50m fund designed to invest in spin-out companies from the Berlin Humbolt university.
RUSSIA - Dubai World Partners back OAO OGK-1
According to reports, the state-owned investment group Dubai World and Russian energy trader Roskommuenergo have acquired Russian wholesale power producer OAO OGK-1 in a deal valued at USD 5.34bn.
GLOBAL - Buying from private owners most lucrative
Private equity firms make the most impact on buyouts they source from private owners, rather than those of formerly listed companies, though both outperform companies that are not backed by private equity at all, according to a report from Ernst & Young.
RUSSIA/CIS - EBRD to commit USD 50m to TCP Growth III
EBRD is to commit USD 50m to TCP Growth III, a fund launched by Troika with a target of USD 850m.
EUROPE - F&C closes on EUR 173m
F&C Management has held the final close of its Europe-focused mid-market fund-of-funds, F&C European Capital Partners, on EUR 173m.
CEE - Ashmore launches fifth global special situations fund
Ashmore has launched its latest emerging markets special situations fund, Ashmore Global Special Situations Fund Five.
CEE - PPF sells ARDAF and RAI
PPF Investments has sold its stakes in Romanian insurance companies ARDAF and RAI to Generali PPF for an undisclosed sum. PPF Investments previously held 72.7% of ARDAF and 99.9% of RAI.
RUSSIA - Almaz reaches first closing on USD 60m
Almaz Capital Partners has reached the first closing of its maiden fund, Almaz Capital Russia Fund I, on USD 60m.
CEE - RAEF reaps 6.5x returns from sale of Policolor
The Romanian-American Enterprise Fund (RAEF) has sold its 33.23% stake in Romanian paint producer Policolor to existing shareholders Romanian Investment Fund (RIF) and RC2, generating a 20% IRR and 6.5x cash on cash multiple from the investment.
GLOBAL - DIC appoints new managing director
Dubai International Capital has appointed David Smoot as managing director of its private equity team.
Not all seconds are sloppy
More private equity-backed companies are growing the bottom line through top-line growth, not cost savings, and the best results stem from deals sourced from private, not public, owners - even if that's another buyout house. Kimberly Romaine reports on...