Southern Europe
SPAIN - N+1 downsizes fund
It is understood that Spanish asset manager and private equity house has downsized the size of its EQMC fund by 30%.
SPAIN – N+1 Dinamia joins LPEQ
Spanish listed vehicle Dinamia, which is managed by N+1, has become the 14th member of Listed Private Equity (LPEQ), an initiative launched to increase awareness and understanding of the asset class.
SPAIN - Doughty Hanson in talks over Yoigo deal
According to reports, UK buyout house Doughty Hanson is in talks regarding an investment into Spanish mobile business Yoigo with majority owner Swedish-Finnish telephone operator TeliaSonera.
EUROPE – 3i Group acquires 3i Quoted
3i Quoted Private Equity today agreed to be acquired by 3i Group in a deal that values 3i QPEP at ТЃ355.2m. The acquisition will be effected through a solvent liquidation of QPEP, allowing 3i to acquire the 55% stake in 3i QPEP it did not already own....
EUROPE - 3i sells stake in Infrastructure
Listed private equity firm 3i has reduced its stake in its infrastructure fund to a third after selling 77 million shares. The placing raised ТЃ61m towards the ТЃ2bn debt pile the investor has accrued; half of which is due in the next three years.
EUROPE - Debt-free deals see sharp rise in Q4
According to unquote" data, more than a quarter of the 237 buyouts completed across Europe in the last three months of 2008 contained no acquisition leverage, while in the beleaguered UK a staggering 40% of Q4 buyouts were all-equity deals.
ITALY - Sator becomes majority shareholder in Banca Profilo
Sator Private Equity has invested EUR 110m into Banca Profilo as part of a capital increase, taking a majority stake in the bank.
EUROPE - Candover downsizes fund
UK buyout house Candover has become to latest large-cap investor group to succumb to the pressures facing firms at the top of the market by announcing a reduction in the size of its latest fund.
FRANCE/SPAIN - Elaia and Necotec form alliance
French venture capital firm Elaia Partners has formed a strategic partnership with Neotec Capital Riesgo, a Spanish investment fund that focuses on the technology sector through investments into Spanish and European venture capital funds.
ITALY - AXA PE takes minority stake in TRE & Partners
AXA Private equity has taken a 45% stake in TRE & Partners, a newly established holding company designed to invest in wind, hydro and solar projects in Italy, as part of a joint venture with Italian industrial group Tozzi.
EUROPE – Activist shareholder mulls 3i QPE takeover
AIM-listed investment group Crystal Amber has taken a stake in 3i's Quoted Private Equity and is reported to be in talks with management and 3i regarding delisting the fund.
ITALY – LIA and Mediobanca to raise $500m special situations fund
According to sources, the Libyan Investment Authority and Mediobanca are planning to launch a new joint fund of up to $500 million designed to take stakes in distressed Italian firms.
UK/EUROPE - BNP Paribas and Northern Lights to partner
According to reports, BNP Paribas Investment Partners is to announce a strategic partnership with US-based Northern Lights Ventures, a private equity firm focused on the institutional asset management industry.
GLOBAL - KKR appoints Donohue as managing director
Kohlberg Kravis Roberts has announced that Suzanne Donohoe will join the firm's global capital and asset management group as managing director and global head of the client and partner group.
ITALY - 360° invests EUR 5.4m into EPS
360° Capital Partners has led a EUR 5.4m funding round for renewable energy company Electro Power Systems (EPS).
SPAIN - Realza-backed Clínicas Perio completes add-on acquisition
Realza Capital-backed dentistry clinic Clínicas Perio has acquired an 85% stake in sector rival Clínicas Aparicio for an undisclosed sum.
GLOBAL - Permira bulks up Technology team
Permira has strengthened its technology team with the appointments of Brian Ruder and Bruce Chizen as a partner and senior advisor, respectively.
SPAIN – Gallo to leave 3i
Reports suggest that Pablo Gallo, a partner in 3i's Madrid office, is to depart the firm after 11 years.
GLOBAL - LPs 'will find a way out'
"There's no question, that on our new deals, we'll have the availability to get out," said Rafael Stone of Washington State University's Board of Regents, speaking at the unquote" South African Private Equity Congress in Cape Town this morning.
UK/NETHERLANDS - HgCapital to close Amsterdam office and consumer team
HgCapital has announced that it is to close its office in Amsterdam and its London-based consumer and leisure team.
EUROPE - Clemens Vedder branches out into private equity
Clemens Vedder's Goldsmith Investments has launched a private equity fund targeting EUR 700m to EUR 1bn of assets.
GLOBAL - Siemens launches venture capital fund-of-funds
Siemens Venture Capital GmbH has launched Siemens Global Innovation Partners I GmbH & Co. KG (SGIP I), a $200m fund-of-funds that will invest in venture capital funds worldwide as well as select growth capital funds.
ITALY - Kingsbridge approached by fashion holding
According to reports private equity house Kingsbridge has been approached by fashion business IT Holding regarding a potential EUR 100m investment.
Shaken and stirred
The overcommitment policy LPs adopted in the past is gone for good. The industry is waving good-bye to the convenient means of funding future capital calls with future fund distributions