Providence to float part of Kabel Deutschland

According to reports, Providence is planning to go ahead with a EUR 1bn IPO of a 25% stake in cable networks operator Kabel Deutschland.

This comes after the planned secondary sale to private equity bidders, which could have fetched as much as EUR 5.5bn, was cancelled.

Advent International, The Carlyle Group, Bain Capital and a consortium of CVC Partners and BC Partners had been circling the company.

German GP first acquired the local IT services group in May 2019 via Auctus V, a 2019-vintage

GP's third fund is completing its investment period, with fourth fund registered

Angel investor Christian Schroeder's new investment vehicle will support early-stage tech companies addressing humanitarian issues

Large-cap sponsors including Advent, Blackstone, Bridgepoint, CVC, EQT and KKR expected to bid today

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

Czech Republic-headquartered family office is targeting DACH and CEE region deals

Ex-Rocket Internet leader Bettina Curtze joins Swiss VC firm as partner and CFO

Estonia-registered VC could bolster LP base with fresh capital from funds-of-funds or pension funds