UK / Ireland
UK - SVG caps commitments and launches £200m rights issue
SVG Capital Plc has announced that it will take up the offer from Permira, its primary investee fund manager, to cap commitments to Permira IV at 60% and simultaneously launch a partially underwritten rights issue and placing to raise £200m.
EUROPE – EIF’s Meyer seconded to EVCA
The European Investment Fund (EIF), Europe's largest venture fund investor, has seconded Thomas Meyer to the EVCA for a period of three years, commencing in January.
UK - Rho Ventures invests $30m into Patersons HR
US-based Rho Ventures has led a $30m series-A round of payroll software services provider Patersons HR and Payroll Solutions.
EUROPE - LODH holds second closing of Euro Choice IV on EUR 409m
LODH Private Equity has reached the second closing of Euro Choice IV and its related investment vehicles on EUR 409m. The final closing is scheduled for 27 February 2009.
UK - ECI backs £33m Ascribe de-listing
ECI Partners has backed the management buyout of AIM-listed Ascribe Plc, which provides a range of IT solutions to the healthcare industry, for a total consideration of £33.3m.
UK - NVM appoints managing director
NVM Private Equity Limited has appointed Martin Green as managing director.
UK - Berchwood appoints new London associate
Placement agent BerchWood Partners has appointed Alexander J. F. Chaplin as an associate in its London office.
UK - NBGI adds Smollensky’s to menu
NBGI Private Equity has acquired Smollensky's Bar & Grill, a chain of steak restaurants, to add to its Kornicis portfolio of restaurants.
UK - 3i to sell 70 portfolio companies to Chamonix Private Equity
It is understood that 3i Group is assessing the possibility of selling stakes in up to 70 companies to Chamonix Private Equity.
UK - Premier Foods seeks out PE investors
According to reports, Premier Foods, owner of Hovis bread among other food brands, is talking to investment banks and private equity groups about a potential £700m fundraising.
UK - Pantheon bolsters secondaries team
Funds-of-funds investor Pantheon has appointed Francesco di Valmarana as principal in its London-based European secondaries team.
Finding your way out
Doing deals is tough in the current market; exiting may be even tougher
Emergency exit
LPs have little to lose (and lots to gain) by defaulting on initial capital calls. All the talk nowadays is on finding the quickest and least painful way out; of deals (for stressed GPs that are willing to accept low pricing) and of funds, with limited...
GLOBAL - PIP to raise £49.5m from issue of loan notes
Quoted private equity fund-of-funds Pantheon International Participations Plc (PIP), which is managed by Pantheon Ventures Ltd, has announced that it has entered into an agreement with institutional investors to raise up to £49.5m through the issue of...
UK - Sovereign-backed Renovo makes second acquisition
Maintenance services provider Renovo Services Group, which is owned by UK buy-and-build specialist Sovereign Capital, has completed its second add-on acquisition with the purchase of Quadron Property Services Ltd, a provider of building fabric maintenance...
UK/US - Accel raises more than $1bn
Global venture capital firm Accel Partners has closed two news funds, Accel London III and Accel Growth Fund, on $480m and $525m respectively.
UK - Close Growth Capital moves
Close Growth Capital has moved to Baker Street.
UK - ECI closes ninth fund on £430m
UK mid-market buyout house ECI Partners has held a first and final close of its ninth fund, ECI 9, on £430m just three months after its launch.