France
FRANCE - PAI backed Kaufman & Broad changes credit terms
PAI Partners-backed property developer Kaufman & Broad has reduced its credit facilities to EUR 75m and adjusted its covenant agreements with its banks.
GLOBAL - Secondaries pricing dips to five year low
Pricing of limited partnership interests on the secondaries market dipped to its lowest level for five years in H2 2008, with the average high bid falling to just 61% of NAV according to the Winter 2008 Secondary Pricing Analysis Interim Update , produced...
FRANCE - Abénex and L Capital sell Nutrition & Santé
Abénex Capital and L Capital have sold health food producer Nutrition & Santé to Otsuka Pharmaceutical Co, a Japanese drug, food and drinks maker.
FRANCE - Apax-backed Morgan falls into administration
Women's prêt-a-porter clothing brand Morgan, which is backed by Apax Partners, has gone into administration.
EUROPE - Shearman & Sterling promotes 12 to counsel
International law firm Shearman & Sterling has promoted 11 lawyers to counsel and one to European counsel.
Permira's plight
Permira is letting its investors scale back. Reactions are mixed
FRANCE – European Capital gets EUR 10m repayment from Devglass
European Capital has received a EUR 10m repayment of junior mezzanine bonds from Newglass, the holding company of portfolio business Devglass, a manufacturer and distributor of dual-pane insulated glass for windows.
FRANCE - Montefiore Investment holds EUR 120m close
Montefiore Investment has held a EUR 120m interim close of its second fund, Montefiore Investment II.
EUROPE – EIF’s Meyer seconded to EVCA
The European Investment Fund (EIF), Europe's largest venture fund investor, has seconded Thomas Meyer to the EVCA for a period of three years, commencing in January.
EUROPE - LODH holds second closing of Euro Choice IV on EUR 409m
LODH Private Equity has reached the second closing of Euro Choice IV and its related investment vehicles on EUR 409m. The final closing is scheduled for 27 February 2009.
FRANCE – CAPE strengthens team
Crédit Agricole Private Equity (CAPE) has hired Delphine Inesta as investment manager in the special situation department, where she will focus on distressed companies.
FRANCE - AGF, Auriga et al inject EUR 2.11m into Domain Therapeutics
Returning investors AGF Private Equity, Auriga Partners, Edmond de Rothschild Investment Partners and Sofinnova Partners have invested EUR 2.11m in Domain Therapeutics alongside new investors Alsace Inter Regio Fonds d'Investissement and Alsace Création....
FRANCE/GERMANY - Cognetas-backed Tokheim acquisition of Göhler
Cognetas Fund II has backed Tokheim's acquisition of Göhler Group with an equity injection of EUR 7.9m, and a further maximum commitment of EUR 7.9m over three years to meet earn-out requirements.
FRANCE - CAPE and CEA invest EUR 1.2m into EyeTechCare
Crédit Agricole Private Equity (CAPE) and CEA Valorisation have made an investment of EUR 1.2m into EyeTechCare, a specialist in medical devices, with each contributing half of the total.
GLOBAL - PIP to raise £49.5m from issue of loan notes
Quoted private equity fund-of-funds Pantheon International Participations Plc (PIP), which is managed by Pantheon Ventures Ltd, has announced that it has entered into an agreement with institutional investors to raise up to £49.5m through the issue of...
GLOBAL - Allocation concerns dominate LPs
According to the latest Coller Capital Global Private Equity Barometer , produced in association with private equity consultancy IE Consulting, limited partners are increasingly concerned about their private equity allocation, with two-thirds of respondents...
EUROPE - Study reveals positive impact of private equity on employee relations
A new study, conducted by the Centre for Management Buyout Research (CMBOR) in association with the EVCA, has revealed that private equity ownership rarely harms employee relations and, in many cases, actually has a positive impact.
FRANCE - BNP PE et al. support AwoX with EUR 4m
BNP Paribas Private Equity, Innovacom, CIC Capital Privé, Soridec and Devtec have invested EUR 4m into AwoX, an electronics middleware company.
FRANCE - I-Source et al. invest EUR 4.3m into Advestigo
Return investors I-Source, EonTech Ventures and CapDecisif have invested EUR 4.3m into digital asset management company Advestigo.
FRANCE - Close Brothers changes senior management
Close Brothers has appointed Laurent Camilli and Gwénael de Sagazan as co-heads of the firms French division.
EUROPE - Oaktree closes on EUR 1.6bn
US-headquartered investor group Oaktree Capital Management has closed OCM European Principal Opportunities Fund II LP, its second European fund dedicated to opportunistic private equity and distress-for-control investments, on around EUR 1.6bn.
FRANCE - AGF leads EUR 14.5m Recupyl investment
AGF Private Equity has led a EUR 14.5m investment in Recupyl, a developer and operator of battery recycling plants, alongside return investor Aloe Private Equity.
60 seconds - Henri Isnard - ARCIS
Francois Rowell meets the co-founder and managing partner of Anglo-French investor ARCIS, to ask how the credit crunch has affected the secondaries market. ARCIS have just closed their fourth fund on EUR354m