News
EU relaxes VCT scheme requirements
The European Commission has enhanced its state aid approval for the UK's Venture Capital Trust (VCT) scheme, loosening both requirements and restrictions on maximum funding.
Social Action Fund backs Impetus Trust
Venture philanthropy organisation Impetus Trust has received a £310,000 investment from the Social Action Fund.
Triago's Dréan launches online PE marketplace Palico
Palico, a global online marketplace for the private equity fund community, launched yesterday.
Fondo Strategico makes maiden investments totalling €650m
State-backed investor Fondo Strategico Italiano has completed its first investments totalling €650m.
RIT partners with Rockefeller Financial Services
Investment trust RIT Capital Partners and asset manager Rockefeller Financial Services have announced the creation of a strategic partnership between the two entities.
AIFI announces new board
Italian private equity and venture capital association AIFI has announced its new governing board.
Hermes appoints new CEO
Hermes Fund Managers has promoted Saker Nusseibeh to the role of chief executive officer.
Moody’s forecasts €33bn+ LBO default
More than a quarter of unrated private equity LBO debt will default by 2015, according to ratings agency Moody’s.
DC Advisory appoints executive director
Corporate finance firm DC Advisory Partners has appointed Jack Dessay as executive director in its European Technology, Media and Telecommunications (TMT) team, based in London.
Terra Firma denies plans to float Infinis (update)
Terra Firma has met banks to discuss a potential £1bn IPO for its energy portfolio company Infinis.
Terra Firma head of IR quits
Terra Firma’s head of investor relations Kamal Tabet has left the firm after only 11 months.
CVC-backed Evonik announces IPO
CVC Capital Partners-backed German chemicals maker, Evonik Industries, has confirmed plans to float in the Prime Standard segment of the Frankfurt stock exchange.
Scandinavian banks downgraded by Moody's
Moody's has downgraded some of the most popular private equity debt providers in Scandinavia.
Tax authority demands Nordic Capital execs repay SEK 412m
Nordic Capital executives have been ordered to repay SEK 412m in carried interest tax, after the Swedish tax authority reached a final verdict in a lengthy investigation.
French LBOs top European performance tables, says AFIC
LBOs generated higher returns in France than in all other European countries in 2011, although their performance declined year-on-year, according to a recent study by private equity association AFIC.
Norway joins carried interest tax push
The Norwegian tax authority will classify carried interest as standard income, putting a few hundred million NOK of carried interest at risk.
Advent exits Vitrue to Oracle
Advent Venture Partners has exited US portfolio company Vitrue in a trade sale to IT solutions developer Oracle, following a 15-month holding period.
CVC Capital Partners said to raise €10.75bn fund
CVC Capital Partners is in the process of raising a new Europe-focused fund targeting €10.75bn ($13.5bn), reports suggest.
Bridgepoint mulls Aenova exit
Bridgepoint is reviewing options for its German vitamins and generic prescription drugs portfolio company Aenova, the GP has confirmed.
Carlyle backs Avail-TVN with $100m for On Demand acquisition
The Carlyle Group has provided $100m in growth capital to US video provider Avail-TVN to acquire UK-based On Demand Group.
CVC reduces stake in F1 prior to IPO
CVC Capital Partners has sold a $1.6bn stake in Formula 1 Group to BlackRock, Waddell & Reed and Norges Bank Investment Management prior to the company's IPO, according to reports.
unquote" British Private Equity Awards
The 2012 unquote" British Private Equity Awards will be held in London on Thursday, 4th October.
Private equity can unlock hidden investment opportunities, says Capital Dynamics
Concern about investing in Europe has obscured numerous investment opportunities, says Mark Drugan, managing director of European investment management at Capital Dynamics.
Ingenious expands corporate finance team
Ingenious Media has recruited new corporate financiers David Brooks and Toby Ramsden, who will join as managing directors.