Southern Europe
ITALY - Xenon PE holds first close at EUR 113m
Xenon Private Equity has held a first close of its fifth fund, reaching EUR 113m towards a EUR 130m target.
EUROPE - Hall to retain 12% stake in Cinven
Robin Hall, who stepped down as managing partner of buyout giant Cinven this week, will reportedly retain a 12% stake in the private equity firm, assuming the role of executive chairman.
GLOBAL - Pomona Capital surpasses $1bn target for secondaries fund
Global private equity firm Pomona Capital has held a final close of its seventh secondaries fund, Pomona Capital VII, at $1.3bn, surpassing its original $1bn target.
SPAIN - ProA acquires 60% stake in Embutidos Palacios
It is understood that ProA Capital has acquired a 60% stake in charcuterie business Embutidos Palacios. The deal value has not been confirmed, but sector experts estimate it could be around EUR 100m.
SPAIN - Inversiones Perseo to acquire 25% stake in AlgaEnery
It is understood that Inversiones Financieras Perseo, the private equity arm of utilities firm Iberdrola, is in the process of acquiring a 25% stake of alternative energy producer AlgaEnergy.
GLOBAL - Cipio promotes Meyel
Global secondary direct specialist Cipio Partners has promoted Diana Meyel to the position of partner.
ITALY - Cape Natixis-backed Garioni acquires 55% stake in CCM
Cape-backed boiler manufacturer La Garioni Naval di Castel Mella has acquired a 55% stake in industrial group CCM. The deal was carried out from Garioni's balance sheet.
EUROPE - 3i appoints two new non-executive directors; halves debt
Private equity group 3i has appointed John Allan and Alistair Cox as non-executive directors on its board, effective 1 September and 1 October respectively.
ITALY - Sator subscribes to EUR 70m capital increase for Profilo
It is believed that Sator has subscribed to a EUR 70m tranche in the capital increase in Banca Profilo.
ITALY - Arca reaches first closing of third fund on EUR 70m
It is understood that Arca Impresa Gestioni has reached the first closing of its vehicle Arca Impresa TRE on EUR 70m. The fund is targeting targets EUR 200m.
EUROPE - Palamon appoints new adviser
London-based mid-market investor Palamon Capital Partners has appointment Dr Richard Wolman to its board of advisers.
Next move?
Upheaval in the markets and the streamlining of operations has resulted in an increased number of qualified professionals looking to join the ranks of private equity. But this doesn't necessarily make it easier for prospective employers
Summer is here ..
But I would not bank on images of pleasant holidays by the seaside. In Italy, 21 banks have been put under review for possible downgrades, including Banca MPS, Banca Popolare di Milano and Banca Sella Holding. Intesa's long-term and short-term ratings...