France
FRANCE - Initiative & Finance complete Webnet MBO
Initiative & Finance has completed the management buyout of IT consultancy business Webnet for an undisclosed sum.
FRANCE - CAPE and Avenir support Coiff’idis
Crédit Agricole Private Equity (CAPE) and Avenir Entreprises have made an undisclosed investment into Coiff’idis, a provider of hairdressing products, alongside the company’s management.
GLOBAL - Lehman Brothers restructures management team
Lehman Brothers is restructuring its management team, appointing Eric Felder and Hyung Soon Lee as global co-heads of fixed income to replace Andrew Morton, who is leaving the firm after just seven months in the position.
FRANCE - Inserm Transfert et al invest EUR 800,000 into DNA Therapeutics
A syndicate of investors comprising Inserm Transfert Initiative, G1J Ile de France, Blue Medical Investment and a group of international business angels have invested EUR 800,000 in DNA Therapeutics, a developer of innovative medicines in oncology, in...
FRANCE - Innovacom et al invest EUR 7m in Active Circle
Returning investor Innovacom has led a EUR 7m second round of investment into Active Circle, a technology solutions company, alongside OTC and Quest for Growth.
GLOBAL - Bear Stearns Private Equity re-brands
Bear Stearns Private Equity Ltd will change its name to JP Morgan Private Equity Ltd (JPEL).
UK/NETHERLANDS – Apollo joins bidding for Reed
Apollo, alongside former non-executive director Strauss Zelnick, have jointly made a bid for publisher Reed Elsevier’s business information division.
EUROPE - Fortis launches EUR 400m clean energy fund
Fortis Investment has launched a new EUR 400m fund dedicated to investments in clean energy companies in Europe.
FRANCE – XAnge and CVC sell GeneSystems
XAnge Private Equity and CVC Enterprises have sold GeneSystems, a French developer of molecular diagnostics platform, to Pall Corp.
FRANCE - Crédit Agricole to launch co-investment activity
Crédit Agricole Private Equity is launching a co-investment activity that will take minority equity stakes alongside European and North-American investment funds.
FRANCE - Newfund holds first close on EUR 63m
Newfund Management, the new private equity company created in 2007 by Francois Véron, has held the first close of its maiden fund, Newfund 1, on EUR 63m. Newfund 1 is expected to gather EUR 80m with a hard cap of EUR 100m.
FRANCE – Truffle supports EUR 1m Photon investment
Truffle Capital and EDF-Energies Nouvelles have invested EUR 1m into Photon Technologies, a solar installation company.
FRANCE – Eurazeo profits fall
Listed investor group Eurazeo has recorded net income of EUR 243.1m in the first semester of 2008, three times lower than the corresponding period last year.
FRANCE - OFI close to completing Léon privatisation
OFI Private Equity is edging closer to completing its take-private of restaurant chain Léon de Bruxelles, having upped its stake to 90.01%.
FRANCE - Pragma stages buyout of Texa
Pragma Capital has completed a tertiary buyout of insurance company Texa from Abénex Capital for an undisclosed sum.
FRANCE - Emertec president retires
Emertec Gestion president Philippe Capdevielle has retired after ten years in the role. The position will be taken up by Bernard Maitre who, along with the investment team, will continue to oversee the management of the first three funds. The team will...
GLOBAL - First Reserve to invest in nuclear venture
According to reports, US group First Reserve, which specialises in the energy sector, will reveal plans later this week for an investment worth hundreds of millions of dollars into Accord Nuclear Resources, a nuclear fuel venture headed by two uranium...
EUROPE - SL Capital reaches fourth closing on EUR 520m
SL Capital Partners has reached the fourth closing of its European Strategic Partners 2008 (ESP 2008) fund-of-funds on EUR 520m.
FRANCE - Abénex Capital and Ixen purchase Buffalo Grill
Abénex Capital and Ixen have completed a secondary buyout of restaurant chain Buffalo Grill from Colony Capital and Eurazeo.
FRANCE - PIPE deals up 100%
With market valuations down buyout houses in France are increasingly targeting investments in public companies. France has already seen 11 pipe deals completed so far this year; more than twice the five deals recorded in 2007.
GLOBAL - Private equity drawn to distressed debt
Reports suggest that private equity firms with large pots of capital from recent fundraising efforts are taking advantage of the current market conditions by acquiring increasing amounts of distressed debt from banks.
GLOBAL - Carlyle’s Louis Gerstner to retire
Carlyle Group chairman Louis Gerstner has announced his intention to step down from his post next month after five and a half years at the job.
UK/NETHERLANDS - Private equity interest in Reed Elsevier's trade publishing unit
Several private equity firms are thought to be among the 12 bidders that have made it through to the second round of the auction for publisher Reed Elsevier's business magazines unit, which is expected to fetch between £1bn and £1.25bn.