UK / Ireland
Bridges appoints ex-ICG CEO as new chair
Former Apax COO Clive Sherling, a long-standing investor in Bridges funds, also becomes a non-executive director
Project A opens first international office in London
Principals Sam Cash and Jack Wang, plus associate Luc de Leyritz, will head the new office
Seraphine lists in London seven months after Mayfair deal
IPO gives the maternity clothing business a market cap of GBP 150m, raising gross proceeds of GBP 61m
BC Partners invests in Valtech at USD 1.4bn valuation
Former reference shareholder Verlinvest and Valtech's new management also reinvest
H&F, BlackRock, GIC invest in Belron at EUR 21bn EV
Hellman & Friedman (H&F), BlackRock and GIC are to acquire a 13% stake in vehicle glass repair and replacement firm Belron in a deal that gives the company an enterprise value of EUR 21bn and an equity value of EUR 17.2bn.
Kempen Capital launches second private equity fund
Fund has a EUR 200m target and will make both small-cap direct co-investments and PE fund investments
Eka Ventures closes early-stage impact fund on GBP 68m
Founding partners have experience backing companies including Gousto, Bloom & Wild, Peak and Elder
Pitalia launches with GBP 50m fund, hires Davies as head
New venture will be headed by John Davies, who joins Pitalia Capital from Seneca Partners
Morrisons rival bidders may have little room to improve on Fortress bid
Both CD&R and Apollo are seen as viable threats to Fortress’s offer, one source says
UK buyout activity cools off in second quarter
While buyout activity fell more sharply in the UK compared to other European markets in Q2, dealflow remained very strong by historical standards
17Capital raises USD 4.5bn across preferred equity strategies
Fundraise includes a USD 2.9bn final close for 17Capital Fund 5, which surpasses its target
The Deals Pipeline
A highlight of deal processes underway and involving PE, either on the buy- or sell-side, across Europe
DN Capital holds final close for fifth fund on €300m
Vehicle surpassed its €200m target and is €100m larger than the firm's fourth fund
Graphite Capital sells U-Pol in £428m trade sale
GP first bought the business in 2002, exiting in 2005 before acquiring it again in 2010
Fundraising Report 2021: mapping out the post-Covid landscape
Unquote analyses key trends and presents proprietary data on the European fundraising market
British Patient Capital launches £600m life sciences programme
Programme will invest in later-stage life sciences funds targeting at least £250m
US, UK ranked as most attractive countries for PE investment – study
France makes it into the top 10 for the first time, while Spain also records strong gains
Caledonia's Duncan Johnson steps down, replaced by Tom Leader
Johnson steps down after 10 years of service, and becomes CEO at Northern Gritstone
Bridgepoint backs PharmaReview
GP is investing via its first Growth fund, which makes investments of up to £15m
Appian weighs fund launch for late 2021
Mining-focused Appian raised $375m for its first fund and $775m for the second vehicle
Bridgepoint confirms intention to list
London-headquartered GP could be valued at around £2bn in its intended LSE listing
Livingbridge buys World of Books from Bridges
Bridges partially exits the company five years after paying £13m for just over 50% of the company.
True holds £275m final close for third fund
Consumer-focused GP raised the fund in a six-month virtual process and surpassed its £250m target
European PE buyout activity sets new record in H1
Hectic first quarter drove an unprecedented spike in deal activity, while aggregate value is just shy of hitting an all-time high