UK / Ireland
UK - Apax and Barclays generate 2x returns from Somerfield sale
The £1.6bn acquisition of supermarket chain Somerfield by the Co-operative Group has generated a 2x return for backers Apax Partners, Barclays Capital and Robert Tchenguiz.
UK - Barclays Ventures exits Insight Medical Ventures in £22m deal
Barclays Ventures has sold its stake in Insight Medical Ventures Ltd, an operator of integrated healthcare facilities, to UME Diagnostics Ltd in a £22m deal.
UK - GfK in talks with Cinven over TNS bid
German market research group GfK is reportedly in talks with Cinven in relation to a potential joint bid for UK research group TNS.
UK/FRANCE - NBGI launches in Paris
NBGI Private Equity has opened a new office in Paris, which will be headed up by Didier Riebel and Laurent Allégot.
UK - Infinity opens in London
Manchester-based private equity and real estate fund Infinity Asset Management has opened an office in London.
UK - ORIX opens London office and hires Rob Young
Japanese integrated finance provider Orix has opened an office for ORIX Venture Finance, its senior debt capital arm, in London.
UK - Oxford Capital closes fourth gateway fund on £12m
Oxford Capital has closed Oxford Gateway Enterprise Investment Scheme (EIS) Fund No 4 on £12m.
UK - Foresight appoints industrial partner
Foresight Group has appointed Nigel Aitchison as industrial partner.
UK/ASIA - LDC enters Asian market
LDC is to enter the Asian market, opening offices in Hong Kong, mainland China and India to help its portfolio companies expand into Asia and provide access to Asian suppliers.
EUROPE - Axa head calls for code on profits
The head of Axa Private Equity, Dominque Senequier, has called for Europe's private equity industry to draw up a voluntary code of conduct on how profit made from deals should be split among investors, managers and staff.
UK - Six private equity firms past second round of Bodycote auction
Bodycote Plc, the supplier of specialist testing and thermal processing services, has gone into the next stage of auctioning its testing business, with six private equity firms believed to still be in the running: CVC Capital Partners, Montagu, Warburg...
UK - Close Ventures leads £2.6m funding round for Dexela
Close Ventures has invested £1.4m as part of a £2.6m funding round for Dexela Ltd, a developer of 3D imaging technology, alongside London Technology Fund and existing shareholders.
UK - YFM supports holiday company
YFM Venture Finance, through its Finance South West Growth Fund, has invested an undisclosed sum into holiday company Sunisle.
UK - Houlihan hires director
Houlihan Lokey has hired Florus Plantenga as director in its London office.
Tough at the top
The prevailing opinion in the private equity market today is that it's not a good time to be a large buyout fund manager. With a 'sweet spot' a long way up the value chain, finding suitable targets is a tough job and convincing banks to back a transaction...
Politicking
Following the conflict between UK trade unions and private equity firms last year, and the subsequent negative media attention, came the recognition by the private equity community that it needed to engage with a wider stakeholder base. This should begin...