France
EUROPE - EVCA report shows sharp rise in turnaround deals
While investment activity in 2009 has slowed significantly, new research published by the EVCA today shows that the downturn has provided a sharp rise in turnaround opportunities, which were up 40% in the first nine months of this year against the same...
GLOBAL - LPs sound warning over private equity performance
A new report has provided a damning assessment of LP confidence in private equity as an asset class, revealing dissatisfaction over performance and new demands in relation to due diligence and reporting. By Ashley Wassall
EUROPE - Mourant acquired by State Street to create PE servicing giant
European fund administrator Mourant International Finance Administration has been acquired by financial services giant State Street Corporation for an undisclosed sum.
FRANCE - SocGen PE arm spins out; re-brands Syntegra
The investment team of SG Capital Europe, the private equity arm of Société Générale's asset management subsidiary SGAM, has led a spin-out of the business from its parent and re-branded it Syntegra Capital.
FRANCE - Finadvance to purchase RAC France
Finadvance is set to back the MBO of the French arm of RAC, the roadside assistance company, from UK-based insurance giant Aviva.
FRANCE - Allianz to sell AGF PE
According to reports, Allianz has mandated Rothschild to oversee the sale of its private equity investment arm, AGF Private Equity, with AXA Private Equity cited as a possible suitor.
GLOBAL - Carlyle to change terms on its fifth fund
It is understood that Carlyle Group is the latest private equity firm to appease its investors by agreeing to several changes to terms on its fifth fund, Carlyle Partners V, including a split on transaction fees, limits on the amount of debt investments...
EUROPE - Delving into fair value
With the recent market turmoil and lack of comparables, fair value remains a complicated accounting principle. In a recent video interview, Nordic unquote" editor Rikke Eckhoff discusses the implication of this principle for the industry with PricewaterhouseCoopers...
FRANCE - 3i cedes PriceMinister venture
3i has ceded its interest in PriceMinister, a price comparison website, back to the founders and current investors Quilvest and Atlas Ventures.
EUROPE - Revised Directive angers trade bodies
Another chapter has been added to the long-running saga of the EU Commission's AIFM Directive, with a new report calling for a removal of all fund size exemption thresholds sparking anger within the industry. By Ashley Wassall
EUROPE - Revised Directive angers trade bodies
Another chapter has been added to the long-running saga of the EU Commission's AIFM Directive, with a new report calling for a removal of all fund size exemption thresholds sparking anger within the industry. By Ashley Wassall
FRANCE - BC and AXA PE to stage Medica IPO
BC Partners and AXA Private Equity homecare company, Medica, is reportedly looking to raise EUR 250m in an IPO early next year.
FRANCE - Dechert strengthens Paris team
International law firm Dechert has recruited Olivier Dumas as a partner in its Paris office.
FRANCE - Natixis PE and CDC launch Kurma Biofund
Natixis Private Equity has partnered up with Fonds stratégique d'investissement (FSI), via CDC Entreprises, to launch the Kurma Biofund, a fund focuses on investing in life science projects sourced from partnering research institutes Pasteur and Curie....
FRANCE - Wendel and KKR stage partial exit of Legrand
Wendel Investissement and Kohlberg Kravis Roberts (KKR) have reduced their shareholdings in Euronext-listed Legrand, an electronics company, from 61% to 50%.
GLOBAL - Apollo prepares to list on NYSE; revenues rise
Private equity house Apollo Global Management has revealed that its revenues rose in the third quarter as the firm plans its move to list on the New York Stock Exchange (NYSE).
EUROPE - Wilson succeeds Russell as EVCA chairman
Apax partner Richard Wilson has been named the new chairman of the European Private Equity & Venture Capital Association (EVCA), succeeding Jonathan Russell of 3i.
EUROPE - JC Flowers makes two senior appointments in its London office
US buyout firm JC Flowers has made two appointments to its London office. Dr. David Morgan replaces Ravi Sinha as managing director for JCF Europe and Asia Pacific, and former FSA chairman, Sir Callum McCarthy, joins as chairman of JCF Europe, a newly...
FRANCE - Ambienta acquires 51% stake in Alpin Pellet for EUR 2.5m
Italian environmental investor Ambienta has acquired a 51% stake in biomass company Alpin Pellet for EUR 2.5m.
EUROPE - TowerBrook, LPs address credit gap with lending unit
LPs started the year defaulting on capital calls and sending letters to GPs asking (or demanding) they refrain from drawing money. What a difference a year makes - now most are honouring their commitments (though the calls are admittedly few and far between)...
FRANCE – EdRIP hits EUR 250m target of new fund
Edmond de Rothschild Investment Partners (EdRIP) has reached the final close of its fund Winch Capital 2 on EUR 250m following a first closing on EUR 175m in July this year.
FRANCE - Astorg takes 32% stake in EUR 500m Gras Savoyarde
Astorg is set to take a 32% stake in insurance broker Gras Savoye, in a deal valuing the company at approximately EUR 500m, including EUR 200m of debt. The LBO deal sees US group Willis reduce its stake to 31.8%.
FRANCE - Avenir backs spin-out of CNCP Bordet with EUR 2m
Avenir Entreprises has invested EUR 2m for a minority stake in CNCP Bordet to support the B2B tubes and plastics business' spin-out from Frans Bonhomme.
FRANCE - Avenir backs spin-out of CNCP Bordet with EUR 2m
Avenir Entreprises has invested EUR 2m for a minority stake in CNCP Bordet to support the B2B tubes and plastics business' spin-out from Frans Bonhomme.