Southern Europe
Crescent European Specialty Lending Fund II closes on €1.6bn
CESL II invests in a diversified portfolio of private secured debt issued by European companies
Secondaries players hold fire despite copious dry powder
Market is likely to pause until Q2 2020 valuations are released, potentially leading to a flurry in Q4
KKR sells 33.33% stake in Acciona Energia for €445m
Energy group Acciona acquires a 13.33% stake in the company, while Axa IM buys 20%
Ambienta buys software provider Namirial
GP is investing via its Ambienta III fund, which held a first and final close on €635m in May 2018
Neuberger Berman, NB Aurora exit Elco
Neuberger Berman sells its 16.5% stake in the company and NB Aurora its 13.3% holding
Italian fundraising processes disrupted by Covid-19 crisis
A round-up of the processes affected, as well as those still pushing through despite the pandemic
Adara Ventures leads €1.25m investment in Fluzo
Sabadell Venture Capital, the venture capital arm of Banco Sabadell, also take part in the round
LVenture leads €2.5m funding round for Filo
Pi Campus, Al.Pe Invest and several business angels also take part in the investment
StepStone closes fourth secondaries fund on $2.1bn
SSOF IV's investment strategy focuses on the inefficient segments of the secondaries market
Q&A: Cambridge Associates' Featherby on PE's time to shine
Very few managers will have net benefited from this crisis, says Featherby, but PE could still showcase its ability to outperform
How private equity is helping fight the Covid-19 outbreak
A round-up of initiatives by GPs across Europe – and their portfolio companies – to help their communities
P101 leads €6m funding round for Codemotion
P101 invests €3.5m in the company from two vehicles, Programma 102 and co-investment fund ITA500
Springrowth closes debt fund on €417m, plans new €200m rescue fund
Fund targets mid-market European companies generating EBITDA of at least €3m and revenues of €30-150m
Insight Partners XI closes on $9.5bn
Fund deploys equity tickets in the $10-350m range in startups operating across the software industry
The Deals Pipeline
A fortnightly highlight of deal processes underway and involving PE, either on the buy- or sell-side, across Europe
Welcome aboard: PE recruitment amid coronavirus
PE-focused recruiters and some GPs themselves are figuring out ways to progress recruitment processes, but challenges remain
Riello Investimenti launches €150m debt fund
Fund is larger than its predecessor, Impresa Italia Private Debt I, which raised €70m in 2016
FVS exits Exor, buys stake in Holdex
FVS invests for minority stakes in Italian companies operating in a wide range of sectors
VC, growth activity collapses in March amid Covid-19 outbreak
European VC and growth capital dealflow was no more sheltered than its buyout counterpart
FVS launches €75m second fund
Fund targets minority stakes in companies based across the north-east of Italy, with revenues of €10-200m
Unquote Private Equity Podcast: Covid-19 special
The team gathers for its first remote podcast, discussing how the early stages of the outbreak have disrupted the European PE landscape
Tech, business services power through amid Covid-19 rout
Of the 53 deals seen in March, 28 came from technology and business services
Debut managers to face daunting fundraising market in 2020
Debut managers out to market are unlikely to hold closes in 2020, and very few new teams are likely to launch funds
Riello Investimenti backs First Advisory
GP invests via its Italian Strategy Fund, a €150m vehicle that held a €50m first close in June 2019