News
VCTs launch; Puma offers incentive
This past week has seen a number of VCTs launch fundraises.
EU and Switzerland strike agreement on fund supervision
A new cooperation agreement between the Swiss and EU regulators allows information sharing regarding the cross-border operations of alternative investment funds.
Leonardo & Co reshuffles governance model
French investment banking firm Leonardo & Co has united its large- and mid-cap teams under a single structure, with a common management board and supervisory board.
Northern Trust expands alternatives business development team
Northern Trust has hired Edwin Parker into a newly-created role that will expand its alternative fund administration business.
Nordic PE investment fell in Q3
Private equity funds invested around €1.1bn in the Nordics in the third quarter, €750m less than in Q2, according to the Argentum Q3 2012 Report. The figures paint Q3 as the trough for the region this year.
Iris Capital opens North American and Asian offices
French venture capital firm Iris Capital has opened further offices in the US, Canada, China and Japan.
NTC Holdings further reduces stake in TDC
The holding jointly owned by Apax, Blackstone, KKR, Permira and Providence has sold 80 million shares in Danish telecommunications company TDC.
BC Partners and TPG given go ahead for OPAP tender
BC Partners and TPG are among the seven potential investors that have been cleared to continue to the next phase of a tender to buy a 33% stake in Greek lottery monopoly OPAP.
Leverage not a conclusive factor to explain insolvencies, academics say
Debt is not a conclusive factor in explaining insolvencies for portfolio companies, and PE-backed businesses do not carry more insolvency risk than other companies, according to new research by Imperial College London and Leeds University.
Electra Private Equity reduces discount to NAV
Electra Private Equity improved its discount to NAV ratio and recorded higher exit and investment activity in the past year.
LPEQ updates reporting guidelines
LPEQ has updated its reporting guidelines for listed private equity funds following feedback from stakeholders.
Better Capital still trades above NAV
Listed PE firm Better Capital has continued to trade above its NAV per share in the six-month period ending on 30 September 2012.
French private equity remains male-oriented affair
Although diversity has taken a timid step forward overall, investment teams in French private equity houses remain predominantly male, according to recent research by Deloitte and trade body AFIC.
Apollo negotiates stake in Aurum Holdings
Apollo Global Management has shown interest in acquiring a stake in British jewellery company Aurum Holdings, according to The Telegraph.
Investindustrial bids for Aston Martin
Italian GP Investindustrial has made an offer to acquire 50% of luxury sports car designer and manufacturer Aston Martin, according to reports.
Eaton joins Goodwin Procter London office
US law firm Goodwin Procter has appointed Ben Eaton as a partner in the firm’s London office. Eaton joins from a tax counsel position at Allen & Overy.
Ian Marwood to leave Grant Thornton
The head of Grant Thornton's corporate finance team in Leeds, Ian Marwood, is leaving the company at the end of the year.
SVCA report reveals dive in venture activity
Sweden venture capital activity is at its lowest level since 2007, according to the SVCA’s latest quarterly report.
Two new partners in Weil’s private equity team
Weil Gotshal & Manges’ London private equity team has appointed Samantha McGonigle and Simon Lyell as partners in the firm with effect from 1 January 2013.
Apex Fund Services opens Guernsey office
Apex Fund Services has announced the opening of a new office in Guernsey to leverage on concentrated industry expertise in the jurisdiction.
Piaseki becomes principal in Silverfleet promotions
Silverfleet Capital has promoted three members of its investment team in London and Paris.
Herkules Capital's Pronova BioPharma receives takeover bid
Herkules Capital's Norwegian portfolio company Pronova BioPharma has received a voluntary cash offer from German chemicals company BASF SE.
Italian GPs circle Pirelli
Clessidra and Investindustrial are in exclusive talks over the holding company that indirectly controls Italian tyre manufacturer Pirelli.
Warburg Pincus-backed Premier Foods to cut 900 jobs
Warburg Pincus portfolio company Premier Foods has announced plans to shut down two bakery sites in Greenford and Birmingham next year, in addition to the previously announced closure of its Eastleigh bakery. The decision will result in 900 job losses...