Nordics
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.
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...
NORWAY - ETF leads EUR 12m Kebony funding
Environmental Technologies Fund has led a EUR 12m investment in Kebony, a Norwegian supplier of environmentally friendly wood.
SWEDEN - Creandum promotes Cassel to general partner
Nordic venture capital firm Creandum has promoted Fredrik Cassel to general partner.
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...
NORWAY - Investinor makes NOK 58m Innotech investment
Investinor has invested NOK 58m in clean energy company Innotech Solar (ITS), taking a stake of close to 16% in the business.
NORWAY - Reiten acquires Basefarm for NOK 255m
Norwegian private equity firm Reiten & Co has acquired online application services supplier Basefarm, a subsidiary of media group Schibsted, in a deal valuing the business at NOK 255m.
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
NORWAY - NeoMed reaps NOK 58m from Clavis placement
NeoMed has sold off its shares in biopharmaceutical company Clavis Pharma, receiving close to NOK 58m.
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...
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)...
SWEDEN - Chalmers back NemaLabs with further SEK 5m
Chalmers Innovation Seed Fund is backing software business Nema Labs with SEK 5m in a funding round raising a total of SEK 10m for the company's internationalisation. Other investors included Volvo Technology Transfer and Innovationsbron.
DENMARK - PAI looking to list Chr Hansen
Reports suggest beleaguered buyout house PAI Partners is looking to offload its stake in Chr Hansen, a Danish food ingredients business, through an IPO that would value the business at EUR 2bn.
DENMARK - IK and Ratos-backed Superfos offloads US operations
IK Investment Partners and Ratos-owned packaging group Superfos' has sold its US operations, Superfos Packaging Inc., to Berry Plastics Corporation for an enterprise value of approximately USD 82m.
EUROPE - EVCA adopts new governing structure
The European Private Equity and Venture Capital Association has today announced the adoption of a new governing structure, including the creation of a Public Affairs Executive (PAE), designed to allowthe industry to "speak with one voice".
GLOBAL - CalPERS to renegotiate terms with Apollo
CalPERS, the California pension fund, is reportedly looking to revise the terms of its relationship with private equity firm Apollo Global Management, pushing for lower management fees, a reduction in commitments, and a renegotiation of other costs for...
FINLAND - CapMan Technology recruits partner
Finland-based Nordic private equity house CapMan has appointed Peo Nilsson as partner within its technology team.
EUROPE - AIFM provisions a 'trap' for the PE industry
The new remuneration provisions contained in a fresh re-draft of the EU Commission's controversial AIFM Directive, which could require up to 60% of managers' variable pay to be deferred, has been described as a 'trap' for the industry. Deborah Sterescu...
GLOBAL - Meidlinger Partners holds $15m first close of cleantech fund
Meidlinger Partners has reached a first closing of its cleantech fund, Meidlinger Partners Sustainable Investments, on $15m.
EUROPE - "We're on our way to next boom"
Speakers at this morning's unquote" Italia Private Equity Congress in Milan stressed that deals done in the next few months will reap stellar returns, but warned that the downturn may in fact prove too short.