DACH
Don't let the sun set on your LP relationships
Diversification and communication are the best ways to ensure a smooth ride with your investors in CEE as in the rest of Europe. Kimberly Romaine reports
Insolvency legislation: adapting to change
The difficult economic outlook has prompted a series of changes to European insolvency laws, but are they sufficient? Charles Noel-Johnson of Close Brothers gives his insight.
EUROPE - Andrew Hartley makes secondary move
In a further sign of the sea change in the industry, August Equity founder and former managing director Andrew Hartley has joined Chamonix Private Equity, a direct secondaries player founded in 2006 when it took over a buyout portfolio from 3i.
EUROPE - 3i considers issuing new shares
3i is considering a rights issue in an effort to reduce its debt pile, which totalled £2.1bn in December.
AUSTRIA – Atlas co-leads EUR 14m ProtAffin financing
Atlas Venture and SR One Ltd, the corporate venture fund of GlaxoSmithKline, have co-lead a EUR 14m Series-B round of financing for biotechnology company ProtAffin AG, alongside existing investors Aescap Venture, Entrepreneurs Fund and Z-Cube.
GLOBAL - KKR delays merger with European fund, again
Reports suggest that KKR has again delayed plans to merge with its Amsterdam-listed fund KKR Private Equity Investors (KPE).
GERMANY - Buyout groups circle Candover and Cinven's Springer
According to press reports, Candover and Cinven, the owners of Springer Science and Business Media, are making progress on divesting a minority stake in the business for about EUR 400m, with several major buyout houses said to be interested in a possible...
SWITZERLAND - Newfund makes maiden investment in Learnissimo
Newfund has made its first investment: purchasing a minority stake in Learnissimo, an e-learning company.
GERMANY - BVK elects new executive board and agrees code of conduct
The Bundesverband Deutscher Kapitalbeteiligungsgesellschaften (BVK) has elected a new executive board and agreed on a new code of conduct for members.
GERMANY – Quadriga-backed Tectum acquires Alex & Gross
Quadriga Capital portfolio company Tectum Group, a call centre operator, has acquired sector rival Alex & Gross Group from the management and EKK Dr Engelhardt, Kaupp and Kiefer Unternehmensbeteiligungen GmbH.
GLOBAL - HarbourVest closes secondary fund on $2.9bn
HarbourVest Partners has held a final close of Dover Street VII LP, a global secondary fund, on $2.9bn.
GERMANY - Stargate Capital acquires Gehring Group
Investment firm Stargate Capital has acquired specialty machines manufacturer Gehring Group from insolvency.
EUROPE - Investment continues downward slide
The retrenchment of the European private equity industry has reached troughs not seen since Q3 1996, according to the unquote" Q1 2009 Private Equity Barometer, produced in association with Candover. It reveals that the total value of transactions fell...
End of the line for large cap funds...
With large-cap investors currently stifled by concerns over LP liquidity and a lack of debt financing while the value of their incumbent portfolio's drop sharply, many are prophesising the end of the road for the space. By Ashley Wassall
Night of the living debt
How the recession caught the private equity industry by surprise. Rikke Lilla Eckhoff speaks to professor Tim Jenkinson, contributing author to the European Economic Advisory Group report of the European Economy 2009
Mezz gets set to face challenges
With financing options remaining limited, many continue to assert that there are opportunities aplenty for mezzanine houses in the current market. However, there are still a range of obstacles to be overcome, writes Ashley Wassall
GERMANY - Target Partners backs Scoreloop
Target Partners has provided an undisclosed seed investment to software company Scoreloop AG.
GLOBAL - First Reserve closes Fund XII on $9bn
US-based energy dedicated private equity house First Reserve Corporation has closed its twelth fund just short of $9bn - significantly below its $12bn target. The fund had a previous closing in July 2008.
GERMANY - Alvarez & Marsal hires restructuring head
Alvarez & Marsal has hired Dr Nedim Cen as managing director and co-head of the firm's Restructuring practice in Germany.
GERMANY - HTGF invests EUR 500,000 into RapidRabb
High-Tech Gründerfonds (HTGF) has invested EUR 500,000 into software prototyping company RapidRabb GmbH in a first round of financing.
GLOBAL - Morgan Stanley raises $1.14bn fund
Morgan Stanley Alternative Investment Partners (AIP), the fund-of-funds division of Morgan Stanley Investment Management, has raised Private Markets Fund IV, a $1.14bn vehicle.
EUROPE - Candover board to meet this week
The board of beleaguered buyout house Candover is to meet early this week to discuss takeover bids, according to today's Financial Times. The meeting comes after the investor earlier this month suspended its 2008 fund 'to explore strategic options'.
GERMANY - Waterland backs A-ROSA MBO
Waterland Private Equity has backed the MBO of river cruise ship company A-ROSA Flussschiff GmbH.