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searched for: recordMid Europa Partners agrees to purchase Slovenian cable TV and broadband operator
Category: Private Equity News | Publishing date: 06 May 2009Mid Europa Partners, a CEE-focused private equity firm, has entered into an agreement to acquire 100 per cent of the Slovenian cable and broadband operator UPC Slovenia from Liberty Global, Inc.
CVC hires BP veteran to US advisory board
Category: Private Equity News | Publishing date: 06 May 2009CVC Capital Partners has appointed BP veteran Ross Pillari to its US advisory board. Pillari will work with CVC's US investment team to help develop investment opportunities in the energy sector and will help advise CVC's portfolio companies and management.
Canadian private equity down in Q1 2009
Category: Private Equity News | Publishing date: 06 May 2009Canadian private equity buy-outs were down in the first quarter of 2009, partly due to a decrease in foreign investors, according to a study by Canada's Venture Capital and Private Equity Association.
China Economic Scan – fortnightly report on private equity in China: 20 April to 1 May 2009
Category: China | Publishing date: 01 May 2009China Economic Scan has provided AltAssets with a round-up of private equity-related developments in China. In this edition: China's huge state pension fund eyes private equity; Alibaba Group Makes Strategic Investment in Koubei.com; China GEM to establish independent approval committee; Zhongwang Seeks $1.6bn in 2009's Largest IPO; Asia Junk Bonds Pay Record, Return, Beat U.S., Europe; Goldman Sachs Raises China Economic Growth Forecasts; Agricultural Bank won't cut staff or branches before IPO; China to launch agency to reform state firms-sources; China's Corporate Profits Fall 73 per cent, Haitong Says; China Shenzhen Bank Q1 net up 12 per cent on loan growth; Property investment continues; China sovereign fund CIC names new private equity head; Zhongwang Said to Raise $1.3bn in Hong Kong IPO; Citic Securities Posts 40 per cent Drop in Net Profit; IDFC Raising $500m Fund Of Private-Equity Fund - Source; Credit Suisse's Zhu Said to Quit to Start Private-Equity Firm.
Managing director Kruemmer leaves 3i
Category: Private Equity News | Publishing date: 29 Apr 2009Stephan Kruemmer, group partner and managing director of 3i's German-speaking business, has decided to leave the firm for "personal reasons".
Eye specialist Visiogen sees $40m in venture funding
Category: United States | Publishing date: 28 Apr 2009Visiogen, Inc., a developer of products for cataract and refractive patients, has raised $40m in venture funding. Lead investor Novartis Venture Fund, along with Technology Partners, made major contributions to this round of financing, which was also strongly supported by current investors Three Arch Partners, New Leaf Venture Partners, Prospect Venture Partners, CMEA Ventures and Foundation Medical Partners.
Emerging Capital Partners takes minority stake in Moroccan data and information services company
Category: MENA | Publishing date: 28 Apr 2009Emerging Capital Partners, an international private equity firm focused on investing across the African continent, has acquired a significant minority stake in Finaccess Group, a Moroccan data and information services company that provides business process outsourcing and call centre services to European clients. The company also provides financial data and business reliance information to local companies. ECP's investment will fund Finaccess' local and regional growth. No financial details were disclosed.
Praesidian Capital Investors provides $11m in mezzanine to Lucky Strike
Category: United States | Publishing date: 28 Apr 2009Praesidian Capital Investors, a provider of mezzanine capital for small and mid-sized companies, has invested $11m of senior secured debt in Lucky Strike Entertainment, an operator of bowling lounges.
Macquarie appoints James Hooke as CEO of infrastructure arm
Category: Private Equity News | Publishing date: 27 Apr 2009James Hooke has been appointed CEO of Macquarie Infrastructure Company. He succeeds Peter Stokes who, after five years as CEO of MIC and 12 years in the New York office of the Macquarie Group, has decided to return to Australia.
LDC invests £6.5m in Nuclear Engineering Services
Category: United Kingdom | Publishing date: 23 Apr 2009LDC, the mid-market private equity arm of LloydsTSB, has invested £6.5m (€7.3m) in Nuclear Engineering Services, a niche engineering solutions group focusing on the nuclear, marine defence and other specialist industrial sectors.
London-based NGBI Ventures welcomes new member to its investment team
Category: Private Equity News | Publishing date: 22 Apr 2009NGBI Ventures, a London-based venture capital firm focusing on the medical technology sector, has appointed John Milad to its investment team.
What happens when the compass breaks? - writes CEO of Acrostic, Ray Maxwell
Category: Features | Publishing date: 22 Apr 2009It doesn't seem long ago when we all had a reasonable idea of what particular assets should return, both in terms of IRRs and multiples. For many years the notion of "risk adjusted rate of return" was an accepted part of the investor's lexicon, even though little attention was actually being paid to what constituted risk and how it should be properly priced. We constructed efficient frontiers and seemingly balanced risk and reward through a process of diversification. However, diversification has proved to be illusory in the face of systemic failure. The compass that gave us our reference points is now fundamentally broken and we haven't a clue where the pole star is located, writes Ray Maxwell, CEO of boutique advisor Acrostic and consultant to New York-based private equity group Invesco Private Capital (IPC).
The role of the private equity sector promoting economic recovery
Category: Knowledge Bank | Publishing date: 22 Apr 2009In the current financial market crisis and precipitous economic decline, the question arises of what role the private equity sector can play in addressing the attendant economic meltdown. The private equity sector has played no role in the profound problems and dysfunctions that produced the current capital markets crisis: the leverage of the companies in which it invests has averaged 2.2 to 1, compared to up to 30 to 1 in the institutions whose failures triggered the crisis; the sector's dimensions are too modest to trigger systemic effects, with the total value of all private equity holdings equivalent to less than 5 per cent of corporate stocks, according to Robert J Shapiro, the chairman of Sonecon.
Atlantic Street Capital appoints new partner
Category: People News | Publishing date: 20 Apr 2009Atlantic Street Capital, a Connecticut-based special situations private equity firm focusing on lower middle-market distressed and deep value investments, has appointed a new partner.
3i sells venture portfolio companies to secondary direct investment firm
Category: Private Equity News | Publishing date: 20 Apr 20093i, the publicly-listed private equity firm, has agreed to sell interests in ten companies that are currently part of its European venture portfolio to Cipio Partners, a secondary direct investment firm.
Pharmaceuticals company Lycera raises $36m in Series A funding
Category: Private Equity News | Publishing date: 16 Apr 2009Lycera, a developer of pharmaceuticals to treat autoimmune diseases such as rheumatoid arthritis and inflammatory bowel disease, has closed a $36m Series A funding round. InterWest Partners, ARCH Venture Partners and Clarus Ventures co-led the financing. EDF Ventures, which led a seed financing in 2006, is also participating.
Indian microfinance fund raises a further $20m in commitments
Category: Private Equity News | Publishing date: 14 Apr 2009Caspian Advisors, a Hyderabad, India-based manager of microfinance funds, has raised $20m in fresh capital for its India Financial Inclusion Fund, bringing the fund size to $58m.
Egypt-focused firm Sphinx Private Equity launches $100m turnaround fund
Category: Specialist PE Sectors | Publishing date: 09 Apr 2009Sphinx Private Equity Management, an Egypt-focused private equity firm, has launched a $100m fund to target distressed assets in the region.
Oak Hill Capital appoints former Medtronic CEO as senior advisor
Category: By PE Sector | Publishing date: 06 Apr 2009Oak Hill Capital Partners, a US private equity firm, has appointed former Medtronic Inc. chairman and CEO, Arthur D Collins Jr, as a senior advisor. Collins will consult across Oak Hill Capital's private equity portfolio, providing advice and expertise in a variety of areas.
US private equity funds raised in Q1 2009 down a massive 81 per cent on last year
Category: Buy-out | Publishing date: 03 Apr 2009US private equity funds raised just $15.5bn in the first quarter of 2009, a huge drop of 81 per cent from the $82.7bn raised in the same quarter last year, and the lowest quarterly amount raised since 2004, according to research by Dow Jones Private Equity Analyst.
VantagePoint Venture Partners appoints two partners to its cleantech practice
Category: By PE Sector | Publishing date: 01 Apr 2009VantagePoint Venture Partners, a cleantech, healthcare and IT-focused venture firm, has added Brad Mattson and Mark Platshon as partners in its cleantech practice.
South Korean private equity fund receives $20m cornerstone investment from government
Category: Venture/Growth | Publishing date: 30 Mar 2009STIC Investments, a South Korea-focused private equity firm, has been awarded a $20m anchor investment from the Ministry of Knowledge Economy as part of an economic initiative from the South Korean government.
UK private equity investment still suffering in 2009
Category: Deal News | Publishing date: 26 Mar 2009Private equity investment in the UK reached just £2bn in the first quarter of 2009, with two thirds of this total from just one deal, according to the Centre for Management Buy-out Research (CMBOR). This is compared to £1.3bn in the last quarter of 2008 - the lowest quarter for over 13 years. CMBOR also reported that deal numbers declined to just 61 in the first quarter of this year, from 92 in Q4 and 152 in the same period in 2008.
Emerging markets private equity funds raise record amount of capital despite global slowdown: $66.5bn raised in 2008
Category: Surveys | Publishing date: 24 Mar 2009Bucking global trends, 210 private equity funds focused on emerging markets raised a record-breaking $66.5bn in 2008, a 12 per cent increase over the $59bn raised in 2007, according to this research from the Emerging Markets Private Equity Association (EMPEA).
US government looks to private equity to aid economic recovery
Category: United States | Publishing date: 23 Mar 2009The US Treasury is looking to private equity to help in buying as much as $1tr in toxic assets from banks in a bid to unlock the frozen credit markets and ease the financial crisis. The move is part of the Financial Stability Plan that, alongside the American Recovery and Reinvestment Act, lay the foundations for economic recovery.
3i invests in European medical diagnostics network Labco
Category: Deal News | Publishing date: 18 Mar 20093i, the publicly-listed private equity firm, has made a €65m investment in European medical diagnostics company Labco. The firm has made a commitment to invest €140m in total.
Financial services-focused Aquiline Capital Partners invests in HedgeServ
Category: Deal News | Publishing date: 18 Mar 2009Aquiline Capital Partners, a New York-based private equity firm which invests in financial services, has invested in HedgeServ Holding, a hedge fund and fund of hedge fund administrator with offices in New York City and Dublin, Ireland. Aquiline will provide growth capital to fund HedgeServ's development and expansion. Financial terms were not disclosed.
Vietnam-focused asset management firm VinaCapital sells stake in food and beverage company Masan Group
Category: Deal News | Publishing date: 16 Mar 2009VinaCapital, a Vietnamese asset management firm, has sold its $20m equity stake in Vietnamese food and beverage company Masan Group. The firm held the stake via its Vietnam Opportunity Fund, an AIM-quoted investment vehicle focused on Vietnam.
Pennsylvania-based private equity firm NewSpring Capital appoints former chairman and CEO of Barr Pharmaceuticals as partner
Category: People News | Publishing date: 13 Mar 2009NewSpring Capital, a family of private equity funds providing capital to companies primarily in the mid-Atlantic region, has appointed Bruce L Downey, former chairman and CEO of Barr Pharmaceuticals, Inc.
Life sciences venture capital firm Pappas Ventures closes fund on $102m
Category: Fund News | Publishing date: 11 Mar 2009Pappas Ventures, a life sciences-focused venture capital firm, has held the final closing of its fourth fund, Pappas Ventures IV, on $102m. Like its predecessor funds, it will invest in product-oriented biopharmaceutical companies, with a secondary focus on medical technologies.
