Financials
360 Capital Partners invests in Leetchi
Franco-Italian investor 360 Capital Partners has invested under €1m in Leetchi.com, an online payment company, alongside Kima Ventures.
Mercapital takes stake in Mercurio Credit Partners
Spanish mid-market investor Mercapital has acquired a stake in distressed debt specialist Mercurio Credit Partners.
Electra Partners backs £270m buyout of esure
Electra Partners, together with limited partner Penta Capital, have backed the buyout of esure in a deal valued at around £270m, acquiring Lloyds Banking Group's 70% stake.
PE hunts down bank bargains
Private equity is swooping in on banks' saleable assets in a ‘once-in-a-lifetime opportunity' to create a new banking platform. Deborah Sterescu reports.
123Ventures increases shareholder base
Private equity house 123Ventures has increased its shareholder base from seven to 17 through an owner buyout.
GI Partners launches Elystan Capital Advisers
GI Partners has backed the launch of Elystan Capital Advisers, a Munich-based investment firm targeting mortgage backed assets and the mortgage banking sector in the DACH region.
UK - Mosaic-backed Preston's Fish up for sale
Mosaic Private Equity-backed Preston's Fish Insurance has been put up for sale for a price tag thought to be around £30m, and is said to be attracting interest from regional investors Gresham and LDC.
GERMANY - Odewald-backed walter services makes acquisition
walter services Holding, which is backed by Odewald & cie and caption, has agreed to acquire SEB Card Service from Swedish banking group SEB.
UK - Lyceum Capital acquires UKDN
Mid-market investor Lyceum Capital has acquired a majority stake in drainage claims manager UK Drainage Network for an undisclosed sum.
UK - Blackstone in tallks with Branson for Northern Rock
Blackstone is reportedly in talks with Sir Richard Branson's Virgin Money about a bid for state-owned Northern Rock's "good bank", which could be worth up to £2bn.
UK - Bridges Ventures exits Insurance Dialogue
Bridges Ventures has sold portfolio brokerage company Insurance Dialogue to trade buyer Equity Insurance Group for an undisclosed sum.
The problem with pension funds
With pension liabilities increasing buyouts of pension funds are on the rise, but what are the implications for private equity? By Ashley Wassall
UK - Kelso Place acquires sub-prime mortgage broker TML
Kelso Place Asset Management has completed the acquisition of TML Financial Solutions, a subsidiary of Kensington Group Plc. The new independent company will trade under its previous name, The Mortgage Lender. The Mortgage Lender, a specialist sub-prime...
UK - Duke Street and Englefield exit Equity Insurance Group
Duke Street Capital and Englefield Capital have sold Equity Insurance Group to Insurance Australia Group, Australasia’s leading general insurance group, for a total consideration of £570m. The two investors delisted the insurance group, then known...
UK - Bank of Scotland Corporate exits Paymentshield
Bank of Scotland Corporate has realised its investment in Paymentshield Ltd, a supplier of general insurance products to the mortgage intermediary sector. The value of the deal has not been disclosed although it is known that Bank of Scotland Corporate...
AUSTRIA - Private equity group expected to bid for BAWAG
Austria's fourth largest bank in terms of volume of assets, BAWAG, is expected to receive offers from at least four financial and trade buyers. Morgan Stanley has been appointed to run the auction process. Expected bidders are Austrian banks Raiffeisen...
UK - Montagu Private Equity acquires Misys General Insurance for £182m
Montagu Private Equity has signed an agreement to acquire Misys General Insurance for £182m. MGI is a wholly-owned subsidiary of Misys Plc, a global business providing specialised software applications to the healthcare and banking industries. Final...
UK - Barclays and Lloyds TSB support insurance broker
Leeds based Barclays Leveraged Finance (BLF) and Lloyds TSB Corporate Acquisition Finance have acted as joint mandated lead arranger in the provision of a £53m finance package to Oval, a leading industry consolidator in the corporate insurance broking...