Southern Europe
EUROPE - KKR closes European annex fund
US-based buyout giant KKR has closed a EUR 400m annex fund to support additional equity investments for portfolio companies of its second European fund, which closed in 2005 on approximately EUR 4bn.
EUROPE - Candover reports further NAV decline; Buffin steps down
Bealeagured buyout firm Candover today released its interim management statement, which reveals a further 12% decline in NAV and sweeping changes to the firm's management.
EUROPE - Gimv appoints new technology adviser
Belgian-based investor Gimv has appointed Richard Seibt, chairman of the Open Source Business Foundation, to its Technology Advisory Board.
GLOBAL - Advent appoints operating partner
Buyout house Advent International has hired Richard Baker as operating partner.
GLOBAL - Ernst & Young appoints global PE leader
International business advisory firm Ernst & Young has appointed John Harley as the leader for its global private equity practice.
EUROPE - 3i may sell venture portfolio to Coller and HarbourVest consortium
3i is now reportedly in exclusive talks with a consortium led by secondary investors Coller Capital and HarbourVest Partners regarding the sale of its venture portfolio, with the price tag thought to be in the region of £100m.
GLOBAL - LGT Capital holds $268m first close of secondaries fund
LGT Capital Partners has held a first close of its global secondary fund, Crown Global Secondaries II (CGS II), on $268m.
GLOBAL- TA Associates closes 11th fund on $4bn
Private equity firm TA Associates has closed its latest fund, TA XI, on $4bn, comfortably surpassing its $3.5bn target.
GREECE - Lamda acquires 20% stake in Alapis for EUR 90m
London-based private equity house Lamda Partners LP has invested EUR 90.2m in pharma manufacturer Alapis, representing 20% of the new ordinary shares.
ITALY - Clessidra’s acquisition of Cavalli falls through
Reports suggest that negotiations between the designer and Clessidra have been terminated with little hope of being resuscitated, after disagreements on valuations.
SPAIN - Pontia Capital sells stake in Nobeltours
It is understood that private equity firm Pontia Capital has sold its 50% stake in tour operator Nobeltur back to its founders, the Peregrín Brothers.
LP perspectives
Following the downturn in the markets, the balance of power between GPs and LPs has shifted, giving LPs greater control. Deborah Sterescu speaks to three LPs to find out how their strategies and attitudes have changed
ITALY - Stirling Square-backed Sicurglobal acquires Mega Italia
Security specialist Sicurglobal, controlled by UK-based private equity house Stirling Square Capital Partners, has acquired security system integration firm Mega Italia.
SPAIN - Mediterrània acquires 49% stake in Agrolito for EUR 2.9m
Riva y García has acquired a 49% stake in agribusiness Agrolito, for EUR 2.9m via Mediterrània Capital fund.
CYPRUS - Platina secures project financing for EUR 170m wind project
Platina Partners LLP has secured the financing required for the development of an EUR 170m wind farm project in Cyprus, from EIB, Commerzbank, ING and NordLB. The 82MW Orties project will be Cyrus' first wind farm.
EUROPE - Osmosis appoints Agentius as fund adminstrator; bolsters team
London-based asset manager Osmosis Capital LLP, has appointed Augentius Fund Administration as the administrator for its forthcoming fund-of-funds.
EUROPE - Q2 figures buck downward trend
Amid widespread talk in the press of "green shoots" in the wider economy, there have been signs of a positive shift in private equity investment activity, according to the unquote" Q2 2009 Private Equity Barometer, produced in association with Candover....
Global - BC Partners writes up value of 2005 fund by almost 25%
Private equity firm BC Partners has reportedly marked up its current fund by almost a quarter in the first half, restoring it to face value.
ITALY - Bain Capital pulls out of talks with debt-laden Safilo
Bain Capital has withdrawn from takeover discussions with the debt-laden eyewear manufacturer Safilo.
EUROPE - Foresight appoints new sales director
VCT manager Foresight has hired Meredith Lee as sales director, based in the firm's Sevenoaks office.
GLOBAL - Calpers private equity assets plunge 23%
CalPERS' private equity assets have fallen 23% in the last year, the worst annual decline the nation's largest public pension fund has ever reported.
SPAIN - Miura acquires 60% stake in Proytecsa
According to reports, Miura Private Equity has acquired a 60% stake in security systems specialist Proytecsa for an undisclosed amount.