DACH
GERMANY - Merck launches strategic venture capital fund
Merck KGaA has launched Merck Serono Ventures, a venture capital fund designed to invest in biotech start-up companies in the company's core therapeutic areas.
GLOBAL - Freshfields elects 14 new partners
Freshfields Bruckhaus Deringer has elected 14 new partners, with the appointments taking effect from 1 May 2009.
GERMANY - Key leveraged team members leave Dresdner Kleinwort
Kai Gebauer, the managing director and head of leveraged finance for Germany and CEE at Dresdner Kleinwort in Frankfurt, has resigned together with the main part of his team, including vice-presidents Jennifer Kroehl and Paul Kim and associate Aileen...
GERMANY – KKR and Permira to restructure ProSiebenSat1 debt
KKR and Permira are reported to have hired Houlihan Lokey to negotiate a restructuring of almost EUR 2bn of debt in portfolio broadcasting company ProSiebenSat1.
GERMANY – Creathor Venture invests in Tellja
Creathor Venture has invested an undisclosed sum into online marketing portal Tellja GmbH.
GERMANY – Affentranger Associates invests in InflaRx
Affentranger Associates has invested an undisclosed sum into antibodies company InflaRx GmbH as part of a series-A funding round, alongside bm-t.
SWITZERLAND - BV promotes Balmer
BV Holding AG has promoted entrepreneur Ernst Balmer to president of its administrative board.
EUROPE - KPE to transfer $211m in co-investments
KPE, the Amsterdam-listed arm of Kohlberg Kravis and Roberts (KKR), is to transfer five co-investments representing $211m in fair value to a KKR sponsored co-investment fund for an aggregate purchase price of $200.4m in cash.
GERMANY – HTGF and TGFS back pluriSelect with EUR 600,000 investment
High-Tech Gründerfonds (HTGF) and the Technologie Gründerfonds Sachsen (TGFS) have invested EUR 600,000 into biotechnology business pluriSelect GmbH.
GERMANY - Ventizz sells innovatis AG for EUR 15m
Ventizz Capital Partners has agreed to sell its stake in innovatis AG, a provider of automated cell analysis solutions, to Roche Diagnostics for EUR 15m.
GERMANY/SWITZERLAND/UK - KKR looking to acquire Phoenix for Boots
Reports suggests that KKR-backed Alliance Boots has approached Phoenix Group, Germany's biggest drug wholesaler, to acquire the business.
GLOBAL - Lehman Brothers Private Equity changes name
Lehman Brothers Private Equity Partners is changing its name to NB Private Equity Partners Ltd.
EUROPE – PE to be PR nightmare
"The trends that emerged over recent years have fundamentally interfered with the alignment of interests between GPs and LPs," commented Roberto Quarta of Clayton, Dubilier & Rice Europe, speaking at what can best be described as a reflective EVCA Investors...
AUSTRIA - ValueNet-backed Rohe insolvent
According to reports, ValueNet Capital Partners' portfolio company gas station Rohe Group has filed for insolvency.
GERMANY - Triton's Kampa to file for insolvency
Triton-backed Kampa AG, a listed manufacturer of prefabricated houses, is expected to file for insolvency.
GERMANY - Consortium provides seed funding for Avidal Vascular
A consortium led by High-Tech Gründerfonds (HTGF) has provided seed financing for medical devices company Avidal Vascular GmbH.
GERMANY - LBBW Venture leads second SimuForm funding round
LBBW Venture Capital GmbH has led a second financing round for software company SimuForm GmbH, alongside EnjoyVenture and KfW, as well as historical investor High-Tech Gründerfonds.
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...