The year that was 2011: Spinouts and technocrats

John Bakie
22 December 2011

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The past year has been perhaps the most turbulent since the financial crisis hit. While there has been plenty of activity and a return of large deals, the Eurozone crisis has certainly had an impact.

Each day this week, unquote" takes a look at the highlights and lowlights of 2011.

October
-EQT closes its sixth fund at €4.75bn hard-cap after just nine months of fundraising.
-Carlyle Group wins bidding war for Spanish telecommunications provider Telecable de Asturias with an offer that values the company at €400m.
-BC Partners and Electra sell their 40% stake in heating company BDR Thermea for €600m, generating a 2x multiple.

November
-Italian Prime Minister Silvio Berlusconi resigns making way for Mario Monti's technocrat government. The yield on Italian 10-year bonds rises above 7% for the first time.
-Edouard Thomazeau and Thibaut de Chassey - who left AtriA Capital Partenaires earlier in the year - launch new mid-cap firm Atlon Capital Partners, aiming to raise €200m.
-Blackstone Group takes a 44% stake in German camera equipment producer Leica Camera for €290m.
-Authorities raid offices of Swedish M&A lawyer Vinge; associate arrested for insider dealing.

December
-Crédit Agricole sells both its private equity unit CAPE and all the funds it manages to Coller Capital, reducing its risk-weighted assets by around €900m.
-CVC Capital sells Taminco to Apollo for €1.2bn, making 3x money.
-HitecVision closes Norway's largest private equity fund to date at $1.5bn hard-cap.