Nordics
Running out of fuel
Unsurprisingly, private equity investment activity continues its deceleration amidst a bleak macroeconomic environment. By Rikke Lilla Eckhoff and Ashley Wassall
EUROPE - American Capital seeks buyers for European portfolio
American Capital is reportedly seeking a buyer for its European arm, European Capital, with the price tag thought to be around $2bn.
UK/NORWAY - Kenda merges three portfolio companies
Kenda Capital has merged three of the portfolio companies in its managed fund Shell Technology Ventures Fund I to create Tendeka, an oil and gas services business.
GLOBAL - Abbott Capital closes sixth fund-of-funds on $1bn
Abbott Capital Management has closed its latest private equity fund-of-funds, ACE VI, on just over $1bn.
EUROPE - Commission proposal launch lacks substance
At the time of writing the launch of the EU Commission's draft proposal covering private equity is still yet to be followed by the proposal itself, though this hasn't stopped it being greeted with a hostile response from industry trade bodies.
NORWAY - Energy Ventures secures NOK 85m for top-up fund
Norwegian venture capital firm Energy Ventures has raised NOK 85m for a top-up fund for its Energy Ventures II KS fund.
GLOBAL - Freshfields appoints new head of global tax practice
Law firm Freshfields Bruckhaus Deringer has appointed Cologne-based tax partner Stephan Eilers to succeed Murray Clayson as the head of the firm's global tax practice.
Global - SJ Berwin to open in Dubai
SJ Berwin has announced plans to open an office in Dubai later this year - the firm's first office in the Middle East.
GLOBAL - Terra Firma to bid for AIG's aircraft leasing unit
Private equity house Terra Firma is reportedly one of three groups that will bid for American International Group Inc's aircraft leasing business, International Lease Finance Corp.
Don't let the sun set on your LP relationships
Diversification and communication are the best ways to ensure a smooth ride with your investors in CEE as in the rest of Europe. Kimberly Romaine reports
Insolvency legislation: adapting to change
The difficult economic outlook has prompted a series of changes to European insolvency laws, but are they sufficient? Charles Noel-Johnson of Close Brothers gives his insight.
EUROPE - Andrew Hartley makes secondary move
In a further sign of the sea change in the industry, August Equity founder and former managing director Andrew Hartley has joined Chamonix Private Equity, a direct secondaries player founded in 2006 when it took over a buyout portfolio from 3i.
EUROPE - 3i considers issuing new shares
3i is considering a rights issue in an effort to reduce its debt pile, which totalled ТЃ2.1bn in December.
GLOBAL - KKR delays merger with European fund, again
Reports suggest that KKR has again delayed plans to merge with its Amsterdam-listed fund KKR Private Equity Investors (KPE).
GLOBAL - HarbourVest closes secondary fund on $2.9bn
HarbourVest Partners has held a final close of Dover Street VII LP, a global secondary fund, on $2.9bn.
EUROPE - Investment continues downward slide
The retrenchment of the European private equity industry has reached troughs not seen since Q3 1996, according to the unquote" Q1 2009 Private Equity Barometer, produced in association with Candover. It reveals that the total value of transactions fell...
End of the line for large cap funds...
With large-cap investors currently stifled by concerns over LP liquidity and a lack of debt financing while the value of their incumbent portfolio's drop sharply, many are prophesising the end of the road for the space. By Ashley Wassall
Night of the living debt
How the recession caught the private equity industry by surprise. Rikke Lilla Eckhoff speaks to professor Tim Jenkinson, contributing author to the European Economic Advisory Group report of the European Economy 2009
Mezz gets set to face challenges
With financing options remaining limited, many continue to assert that there are opportunities aplenty for mezzanine houses in the current market. However, there are still a range of obstacles to be overcome, writes Ashley Wassall
FINLAND - Finnish Industry Investment hires investment manager
Government-owned Finnish Industry Investment has appointed Juha Lehtola as investment manager.
GLOBAL - First Reserve closes Fund XII on $9bn
US-based energy dedicated private equity house First Reserve Corporation has closed its twelth fund just short of $9bn - significantly below its $12bn target. The fund had a previous closing in July 2008.
GLOBAL - Morgan Stanley raises $1.14bn fund
Morgan Stanley Alternative Investment Partners (AIP), the fund-of-funds division of Morgan Stanley Investment Management, has raised Private Markets Fund IV, a $1.14bn vehicle.
SWEDEN - Rite Ventures acquires Frank Dandy Superwear
Swedish private equity and venture firm, Rite Ventures, has acquired bankrupt fashion business Frank Dandy Superwear in an auction.
SWEDEN - Chalmers et al. support GreenClip with SEK 1.5m
Chalmers Innovation has backed GreenClip, a Swedish business which develops automated processes for attaching tags to various products, in a SEK 1.5m funding round, alongside Start Invest AB, Brunnen Invest and private investors.