News
BALTICS - Pohjola appoints Baltic head
Finnish banking group Pohjola has appointed Jorma Alanne as head of its Baltic divison, replacing Markku Vehmas.
GLOBAL - LPs sound warning over private equity performance
A new report has provided a damning assessment of LP confidence in private equity as an asset class, revealing dissatisfaction over performance and new demands in relation to due diligence and reporting. By Ashley Wassall
UK- August Equity completes Hat Trick exit
August Equity has exited its 45% stake in portfolio company Hat Trick, the television production company responsible for programmes such as 'Have I Got News For You' and 'Whose Line Is It Anyway', via a management buy-back led by co-founder Jimmy Mulville.
NETHERLANDS - Crédit Agricole PE invests EUR 1.7m in arGEN-X
Crédit Agricole Private Equity has invested close to EUR 2m in biopharmaceutical firm arGEN-X in a second close of the firm's series-A funding round, taking the total raised to EUR 12.5m.
SPAIN - PE-backed Amadeus seeks to amend debt prior to listing
Reports suggest that BC Partners- and Cinven-backed travel agency Amadeus is in negotiations with its lenders to amend the terms on its EUR 5bn debt pile prior to its planned flotation.
EUROPE - Mourant acquired by State Street to create PE servicing giant
European fund administrator Mourant International Finance Administration has been acquired by financial services giant State Street Corporation for an undisclosed sum.
GERMANY - Informa pulls out of Springer race
Reports indicate that trade buyer Informa has pulled out of the race for Candover- and Cinven-backed educational publisher Springer Science & Business Media, citing a too short time span to complete the deal.
FRANCE - SocGen PE arm spins out; re-brands Syntegra
The investment team of SG Capital Europe, the private equity arm of Société Générale's asset management subsidiary SGAM, has led a spin-out of the business from its parent and re-branded it Syntegra Capital.
FRANCE - Finadvance to purchase RAC France
Finadvance is set to back the MBO of the French arm of RAC, the roadside assistance company, from UK-based insurance giant Aviva.
UK/US - Marathon holds $400m first close on US toxic asset fund
London-based Marathon Asset Management has held a $400m first close of its public-private toxic asset fund, an initiative engineered by the US government to buy up troubled assets from banks that has so far seen $5bn raised by eight seperate fund managers.
FRANCE - Allianz to sell AGF PE
According to reports, Allianz has mandated Rothschild to oversee the sale of its private equity investment arm, AGF Private Equity, with AXA Private Equity cited as a possible suitor.
GERMANY - Salans hires Mike Danielewsky
Salans has hired Mike Danielewsky for its Frankfurt office.
GLOBAL - Carlyle to change terms on its fifth fund
It is understood that Carlyle Group is the latest private equity firm to appease its investors by agreeing to several changes to terms on its fifth fund, Carlyle Partners V, including a split on transaction fees, limits on the amount of debt investments...
UK - PAI to inject additional £20m into Kwik-Fit
French buyout house PAI Partners is said to be injecting £20m of fresh capital into portfolio company Kwik-Fit, the ailing tyres and exhausts retailer, in an effort to prevent the business breaching it's banking covenants.
UK - Inflexion backs £33m FDM MBO
Inflexion Private Equity has backed the management buyout of AIM-listed IT services company FDM Group, in a deal that values the business at a little over £33m.
GERMANY - Pamplona’s Saf-Holland completes restructuring
Pamplona Capital's portfolio company Saf-Holland, a manufacturer of commercial vehicle parts, has reached agreement with creditors on a financial restructuring and extension of its existing EUR 316m credit line until September 2014.
SWITZERLAND - Ventech backs Covagen
Venture firm Ventech has invested an undisclosed sum in biotechnology company Covagen.
GERMANY - Oaktree to challenge DIC for Almatis
Reports suggest that distressed debt specialist Oaktree Capital is planning a takeover of Dubai International Capital-backed German alumina maker Almatis, in which it is a major creditor following the acquisition of debt on the secondary market.
NORWAY - ETF leads EUR 12m Kebony funding
Environmental Technologies Fund has led a EUR 12m investment in Kebony, a Norwegian supplier of environmentally friendly wood.
SWEDEN - Creandum promotes Cassel to general partner
Nordic venture capital firm Creandum has promoted Fredrik Cassel to general partner.
SPAIN - CAI to remain in Imaginarium
CAI Desarrollo Empresarial, the private equity arm of savings bank Caja de Ahorros de la Inmaculada, is to retain its holding in childrens toy retailer Imaginarium when it floats on Mercado Alternativo Bursátil, Madrid's alternative investment market,...
UK - Dawn Capital invests in series A round for Manic Monkey
Dawn Capital has invested an undisclosed amount into 3D animation specialist Manic Monkey in a series-A round of financing.
GERMANY - HTFG and MAZ invest in MobileBits
High-Tech Gründerfonds and Maz level one have invested an undisclosed sum in software company MobileBits.
SPAIN - BC to divest Teknon
It is understood that BC Partners has put Barcelona-based healthcare business Teknon on the block, with the investor reportedly seeking a price tag of between EUR 140-160m.