UK / Ireland
EUROPE - Index Ventures V closes on EUR 350m
Index Ventures has held a final close of its fifth fund, Index Ventures V, on EUR 350m.
UK - SVG rights issue raises £100m
Listed LP SVG Capital has today announced the results of its rights issue, having received valid acceptances for around 52% of offered shares and sub-underwriting commitments from existing shareholders that have raised a total of £100m.
BELGIUM/UK - CVC-backed Belgian carrier shows interest in Royal Mail
According to reports Belgian postal service De Post-La Poste, which is minority owned by UK-based buyout house CVC Capital Partners, is likely to throw its hat in the ring to acquire a 30% stake in UK postal operator Royal Mail.
EUROPE - Candover reveals full extent of downturn
Candover Investments Plc today announced its final year results for 2008, revealing a sharp aggregated writedown of more than 50% in NAV following five successive years of increases.
UK - Spirit’s Adler & Allan makes further acquisition
Spirit Capital Partners' portfolio company Adler & Allan has acquired the UK port and harbour response businesses of Oil Spill Response and East Asia Response for an undisclosed sum.
EUROPE - Baird bolsters business services team
Baird has strengthened its investment banking advisory business with the hire of Jonathan Harrison as a director within its European business services sector team.
UK - Shackleton backs OmPrompt
Secondaries venture capital firm Shackleton Ventures has acquired a 49% stake in UK data messaging business OmPrompt.
UK - Dunedin to sell Fernau in £32m deal
Dunedin is finalising a £32m sale of navigation equipment manufacturer Fernau Avionic to US-based aircraft control systems manufacturer Moog Inc, in a deal that would reap a 3.2x money multiple on the investment.
UK/IRELAND – KPS acquires Waterford Wedgwood
US buyout house KPS has signed the purchase agreement of glassware and crockery group Waterford Wedgwood which entered into receivership earlier this year.
UK - 3i postpones Fairline auction
Market rumour suggests UK-based private equity group 3i has decided against the sale of luxury yacht and powerboat-maker Fairline Boats.
UK/ITALY - Candover writes off Ferretti investment
Candover is opting out of the restructuring of portfolio company Ferretti, an Italian yacht manufacturer, completely writing off its investment in the business.
UK - Palamon appoints vice president
Mid-market private equity firm Palamon Capital Partners has hired Ricardo Caupers as vice president in its London office.
Structural revolution
The deteriorating economic climate is putting increasing pressure on private equity portfolio companies and is likely to lead to the need for complex restructuring operations, as well as potential deal opportunities for some, in the coming months. By...
SICAR amendments are good news for GPs
In October 2008, Luxembourg's dedicated regime for private equity funds was updated. The possibility to create subfunds and the significant enhancement of the Luxembourg Limited Partnership are the two key innovations
EUROPE - Commission holds hearing on PE regulation
The EU Commission is today in Brussels holding its hearing into private equity regulation and conduct in Europe, in what should be a significant step towards a conclusion of the long running political debate. Prior to the conference, an industry "task...
UK - August-backed Enara makes further acquisiton
Enara Group, a home care provider backed by August Equity, has acquired fellow home care provider County Care Ltd and five of the six businesses of The Home Service group.
UK - Horizon et al. invest $13.5m into Imagini
Horizon Ventures, NorthZone Ventures and Atomico have invested $13.5m into publishing support company Imagini in a second round of funding.
UK - CVC appoints senior adviser
CVC Capital Partners has appointed Sir Julian Horn-Smith as senior adviser in London.
UK - Vantis hires new client partner
Vantis Restructuring and Debt Advisory Services has hired Richard Ramsey as client services partner, based in London.
UK - Foresight invests £3.75m to support Diagnos BIMBO
Foresight has supported the BIMBO of software company Diagnos Ltd with an equity investment of close to £4m.
Statistical slide
With both final quarter and year end statistics being published in the last month the full extent of the downturn in 2008 is revealed, but there are some rays of sunshine amidst the gloom. Ashley Wassall reports.
GLOBAL - Lehman sells venture capital arm
Lehman Brothers has fully divested its US-based venture capital arm Lehman Brothers Venture Partners through a sale to the current management team, backed by HarbourVest Partners.