UK / Ireland
Unnecessary uncertainty
A recent BVCA study reported that the UK private equity industry generated £5.4bn for the financial and professional services sector in the 2006/07 financial year.
UK - Montagu to work with GIP on Biffa
Montagu Private Equity is reported to have agreed to work with Global Infrastructure Partners (GIP) on a £1.2bn bid for waste services company Biffa. Montagu had formerly tabled an offer for the listed-business alongside HgCapital but it is understood...
UK - IMAC appoints new director
Ingenious Media Active Capital Limited (IMAC) has appointed George Bryan Dix to its board of directors with effect from 24 January 2008.
UK - Bowmark Capital closes £265m fund in ten weeks
Bowmark Capital has closed its new fund, Bowmark Capital Partners IV, with total commitments of £265m, only ten weeks after its launch last year. With 23 investors, the fund was significantly oversubscribed at its hardcap following the success of Bowmark's...
UK - QinetiQ portfolio company acquires pSiNutria
Intrinsiq Materials Ltd, a nanotechnology business owned by venture capital fund Qinetiq Ventures, has acquired the assets of pSiNutria Ltd, a wholly owned subsidiary of PSvidia Ltd that focuses on nanoporous silicon technology company.
UK - Darling changes CGT proposals to benefit small businesses but not private equity
Alistair Darling has backed down from his November Pre-Budget Report plan to enforce a single 18% tax on capital gains. The Chancellor announced today that while he was going to go ahead with the scrapping of taper relief (which gives tax incentives to...
UK - Buyout houses ready for Prêt
Advent International, Bridgepoint and Morgan Stanley are all reported to be preparing bids for UK sandwich chain Prêt a Manger. However, the £400m-plus price tag on the asset is unlikely to be realistic, owing not only to market wobbles but also to...
UK - Endless appoints new investment manager
Endless has appointed Simon Mason as investment manager in its Birmingham office.
UK - MSIF invests £1.4m to support Aerogistics expansion
Merseyside Special Investment Fund (MSIF) has made an investment of £1.4m to support the growth of aerospace supply chain management company Aerogistics.
UK - YFM and NESTA support ProVision with £750,000
The YFM Group-managed South West Venture Fund and Finance South West Growth Fund, along with NESTA investments, have invested £750,000 into digital wireless video technology company ProVision Communications.
UK - ISIS leads £7m investment in MBO of Playforce
ISIS Equity Partners has led a £7m investment to support the management buyout of Playforce, a supplier of children's play areas to schools. ISIS invested from its Baronsmead VCTs alongside debt underwritten by HSBC.
UK - Oxford Capital Partners leads £1.2m investment in waste water technology
Oxford Capital Partners has led a £1.2m investment in Microbial Solutions Ltd, a waste water treatment company. H20 Venture Partners and existing investor Rainbow Seed Fund also participated in the funding round. Microbial Solutions is a newly formed...
UK - Matrix looks to raise additional £15m for Income & Growth VCT
Matrix Private Equity Partners (MPEP) is aiming to raise £15m in an S share offer for The Income & Growth VCT, formerly named TriVest VCT, on the back of strong performance in the sector and by MPEP. The new S share fund will be managed separately from...
UK - CGC confectionery portfolio company makes £58m acquisition
Close Growth Capital's (CGC) confectionery porfolio company Tangerine has agreed to acquire Monkhill Confectionery from Cadbury Schweppes for £58m in cash. The deal is subject to completion in February. This will be the second major purchase by Tangerine....
UK - Zeus backs £22m+ buyout of networking services supplier
Zeus Private Equity has completed its third deal with the management buyout of networking services supplier Electranet (UK) Ltd. ZPE has invested £6m as part of a funding package worth more than £22m. HSBC provided senior debt and working capital facilities.
UK - Low Carbon Accelerator makes £320,000 investment into QuantaSol
Low Carbon Accelerator Ltd has announced a £320,000 investment into solar enegry firm QuantaSol Ltd, taking its equity stake in the company to 25.6%.
EUROPE - Index closes first ventures growth fund on EUR 400m
Index Ventures has closed its latest fund Index Ventures Growth I LP on EUR 400m. The fund was formed to address the market opportunity created by the maturation of Europe’s start-up industry and the movement of traditional late-stage investors into...
UK - E-Synergy leads £1.7m Envirotreat funding
The Sustainable Technology Fund (STF), a cleantech focused venture capital fund managed by E-synergy, has led a £1.7m round of funding for toxic soil and waste remediation specialist Envirotreat Ltd.
Returns concerns
Confidence in mega-funds declines.
Public vs. Private Equity – Monkeys vs. Innovators and Explorers
Dr Thomas Meyer explores the origins of the limited partnership structure and looks at the co-existence of the public and private markets.