DACH
EUROPE - Clemens Vedder branches out into private equity
Clemens Vedder's Goldsmith Investments has launched a private equity fund targeting EUR 700m to EUR 1bn of assets.
GLOBAL - Siemens launches venture capital fund-of-funds
Siemens Venture Capital GmbH has launched Siemens Global Innovation Partners I GmbH & Co. KG (SGIP I), a $200m fund-of-funds that will invest in venture capital funds worldwide as well as select growth capital funds.
DACH - PINOVA Capital holds first closing on EUR 50m
PINOVA Capital has announced a first closing of its first fund, PINOVA Fund I, on EUR 50m.
SWITZERLAND - Capital Group cuts staff
US private equity firm Capital Group International is cutting 105 of its 350 Geneva-based staff, citing as a reason a decrease in assets under management.
GERMANY - TGFS invests in UroTec GmbH
Technologiegründerfonds Sachsen (TGFS) has invested in Dresden-based biotechnology company UroTec GmbH.
Shaken and stirred
The overcommitment policy LPs adopted in the past is gone for good. The industry is waving good-bye to the convenient means of funding future capital calls with future fund distributions
2009 already written off
Europe will not see signs of a return to economic health until 2010 at best, suggests a new survey
GLOBAL - TPG downsizes fund
TPG Capital is to cut its $6bn fund designed to invest in distressed financial companies by 25%, reports suggest.
GERMANY - High-Tech Gründerfonds invests in Microstim
High-Tech-Gründerfonds has invested EUR 500,000 in medical technology start-up company Microstim GmbH.
EUROPE - Dubai Int'l Cap replaces PE CEO
Dubai International Capital has appointed David Smoot as its new private equity chief executive, to be based in Dubai.
EUROPE - PEREP appoints three board members
Private equity data platform PEREP_Analytics has appointed Sergey Sheshuryak, Sophie Manigart and Peter Rosenhoom to its governing board.
EUROPE - Baugur to collapse
Baugur is set to go into administration after its main banker, Landsbanki, ended restructuring talks with the once-prolific Icelandic investor.
GERMANY - Private equity-backed Märklin files for insolvency
Kingsbridge and Goldman Sachs-backed toys company Märklin has filed for insolvency.
GERMANY - CornerstoneCapital backs MBI of Integrata AG from Logica
CornerstoneCapital has, together with the buy-in managers Ingmar J Rath, Gerhard Wächter and Dr Andreas Dahmen, acquired software training business Integrata AG from Logica.
GLOBAL - TPG sale talks collapse
US private equity house TPG Capital has, according to reports, broken off talks to sell a stake of the firm to investors.
GERMANY - Carlyle-backed Edscha files for insolvency
The Carlyle Group's portfolio company Edscha has filed for insolvency.
EUROPE - 3i appoints Hogg managing partner, Infrastructure
Following the announcement that Michael Queen will replace Philip Yea as CEO of listed private equity heavyweight 3i, the firm has appointed Cressida Hogg to replace him as managing partner of its infrastructure business.
GERMANY – Bmp backs Motor Entertainment
Bmp AG has acquired an 11% stake in Motor Entertainment GmbH from I-D Media AG.