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Carlyle and Advent acquire HT Troplast
29/12/2004. The Carlyle Group and Advent International announce the acquisition of plastics manufacturer HT Troplast AG from Ruetgers AG. 
CapMan Mezzanine IV fund has second closing on 142.5 million
29/12/2004. Nordic private equity investor CapMan announces the second closing of its fourth mezzanine fund, CapMan Mezzanine IV, on 142.5 million.
ABN AMRO Capital in deals with CBPE for Park Resorts
29/12/2004. ABN AMRO Capital and their portfolio firm GB Holiday Parks announce the acquisition of Park Resorts from Close Brothers Private Equity for £165 million. ABN AMRO Capital already has a majority stake in GB Holiday Parks, following its acquisition in November 2004.
Cypress Group and Goldman Sachs Capital Partners complete purchase of Cooper-Standard Automotive
29/12/2004. The Cooper Tire & Rubber Company announces that it has completed the sale of its automotive business, Cooper-Standard Automotive, to The Cypress Group and Goldman Sachs Capital Partners for approximately $1.165 billion in cash, subject to post-closing adjustments.
Paul Capital securitises large part of pharmaceutical royalty fund
23/12/2004. Paul Capital, the US secondaries and fund of funds specialist, has securitised a $229m chunk of its pharmaceutical royalties fund. The notes, backed by Royal Securitisation Trust I, are backed by a portfolio of healthcare royalty interests and revenue interests from 13 of the 19 investments made by Paul Royalty Fund I
KKR set to buy Canadian building products manufacturer Masonite for C$3.1bn
23/12/2004. US buy-out giant KKR is working to take private the listed Canadian building products manufacturer Masonite International in a deal worth around C$3.1bn ($2.5bn). KKR's $40.20 per share bid has been approved by the board.
Palamon sells Italian software firm TeamSystem to Bain Capital
23/12/2004. Pan-European buy-out firm Palamon Capital Partners has sold its Italian software company TeamSystem to US buy-out firm Bain Capital for a reported 280m. The company had hoped to float on the Milan stock exchange earlier in the year but failed to generate sufficient investor interest.
Industri Kapital makes first investment out of 2003 fund into Swedish housebuilder
22/12/2004. Nordic buy-out firm Industri Kapital has made its first investment out of its recently closed 2003 fund with the 58m buy-out of Swedish prefabricated house manufacturer Myresjohus.
Cinven and Altice buy French telecom assets for 528m
22/12/2004. Pan-European buy-out firm Cinven and Luxembourg-based cable firm Altice have bought the cable operating subsidiaries of France Telecom and Vivendi Universal for 528m. The deal will make the second biggest cable TV company in France.
Bridgepoint makes fifteenth exit of the year with secondary sale of HMY
21/12/2004. Bridgepoint, the European mid-market specialist, has exited its fifteenth portfolio company of the year with the secondary sale of Hermes Meal Yudigar to private equity firm Sagard for an indisclosed sum. The realisation means Bridgepoint has now returned more than 700m to its investors this year.
KKR files for PanAmSat IPO only months after acquisition
21/12/2004. KKR and its co-investors in satellite business PanAmSat have filed to list shares in the company worth around $1bn only months after acquiring the business. The IPO would be the latest in a series of quick exits for private equity firms eager to take advantage of accommodating public markets.
US venture firm New Enterprise Associates promotes four to partner
21/12/2004. New Enterprise Associates, one of the most highly-regarded US venture firms, has announced the promotion of three staff members to general partner and one to partner. Forest Baskett, Ryan Drant and Chip Linehan have been promoted to general partner, while Ravi Viswanathan has been promoted to partner.
Warburg Pincus buys stake in Chinese drug firm for $100m
21/12/2004. Warburg Pincus, one of the very few truly global private equity firms, has agreed to pay $100m for a 22.5 per cent stake in Chinese drug maker Hayao. The investment will give Warburg Pincus a significant chunk of the massive Chinese pharmaceutical industry.
Jo Taylor succeeds Perry as head of venture capital at 3i
20/12/2004. Jo Taylor has been named as the successor to retiring Rod Perry as the head of venture capital at listed European private equity firm 3i. Taylor, who has been running the firm's UK venture arm will formally the position takeover next summer.
Carlyle continues Asian growth with Japanese growth capital team
20/12/2004. US private equity giant the Carlyle Group is continuing to grow its Asian activities aggressively with the recruitment of a specialist growth capital team in Japan. The team will invest in young Japanese companies and will invest from the firm's Asia Venture Partners Fund.
UK venture capitalists question government's approach to entrepreneurship
20/12/2004. UK venture capitalists are unimpressed by the government's efforts to put the promotion of entrepreneurship at the heart of economic policy. A new survey finds only 25 per cent of private equity investors think the government is 'effectively encouraging' entrepreneurship and only 17 per cent think it is good at promoting a dynamic business environment.
CVC International completes one of the biggest ever private equity deals in Baltics
17/12/2004. Citigroup Venture Capital International, part of Citigroup, has completed one of the largest private placement done to date in the Baltics with its 40m investment in Lithuanian grocery chain IKI. The transaction is also one of the biggest in the retail sector in Central & Eastern Europe.
European venture firm Advent Venture Partners holds first close on £128m
17/12/2004. London-based venture capital firm Advent Venture Partners has announced the first closing of its latest fund, Advent Private Equity Fund IV, with total commitments of £128m. The target is £200m.
Carlyle poised to participate in biggest private equity deal in China to date
17/12/2004. US-based private equity firm Carlyle and insurer Prudential Financial are preparing to acquire a 25 per cent stake in China Pacific Life Insurance for up to $400m, according to reports. Carlyle has not yet commented on the transaction, which appears to value the business at up to $1.6bn.
US buy-out firm Blackstone announces changes to management structure
17/12/2004. US buy-out firm The Blackstone Group has announced several changes in senior management responsibilities, most notably the elevation of Hamilton James, in what appears a gradualist response to succession issues.
American Securities Partners IV closes with $1bn of commitments
16/12/2004. US mid-market specialist American Securities Capital Partners has announced the final closing of its fourth investment fund. American Securities Partners IV closed with commitments of $1bn, well ahead of its original target size of $750m.
David Denison is the new president and CEO of CPP Investment Board
16/12/2004. Toronto-based CPP Investment Board has appointed David Denison as president and CEO. Denison will join on 17 January 2005, succeeding John A MacNaughton.
US private equity firm JH Partners closes $200m institutional fund
16/12/2004. San Francisco-based private equity firm JH Partners has closed its first institutional fund on $200m.
Southern European Investindustrial exits second major investment with Ruffino sale
16/12/2004. Southern European buy-out firm Investindustrial has sold its 44 per cent stake in Italian Chianti Ruffino winery to US-based wine producer and distributor MPF-Constellation Brands. The enterprise value of the business is 220m.
CVC wins 850m auction for Dutch confectioner CSM
16/12/2004. Pan-European buy-out firm CVC has won the auction for the confectionery division of Dutch firm CSM with a bid of around 850m. The deal is expected to close in the first quarter of next year. The business had attracted interest from a number of private equity firms, including PAI and Nordic Capital.
Duke Street sells Wickes for £950m to Travis Perkins and holds onto Focus
16/12/2004. Duke Street Capital has realised a significant chunk of one of its biggest investments with the sale of DIY retailer Wickes, part of its Focus Wickes Group roll-up, to trade buyer Travis Perkins. The buyer is paying £950m in cash, of which around £150m is expected to go to Duke Street.
One Equity acquires Oncology Therapeutics Network from Bristol-Myers Squibb
15/12/2004. US One Equity Partners will acquire Oncology Therapeutics Network from pharmaceutical and health care company Bristol-Myers Squibb. The transaction is expected to be completed during the first quarter of 2005, pending regulatory approvals.
Eurazeo, TPG and Spectrum acquire Eutelsat stake from Mirror International Holdings
15/12/2004. Luxemburg-based Mirror International Holding has agreed to sell its 20.7 per cent stake in Eutelsat for 643m to Whitebirds France, which is controlled by French buy-out firm Eurazeo and Nebozzo. Nebozzo is an entity owned jointly by private investment partnership Texas Pacific Group and private equity firm Spectrum Equity Investors.
Apax sells French Groupe Hubert to Irish foods sector group IAWS for 105m
15/12/2004. Apax Partners France have sold their majority stake in Groupe Hubert, the French distributor of products for the bakery, confectionery and food services sector, to the Irish foods sector group IAWS. The transaction price is 105m.
NVCA presents upbeat prognosis for US venture prospects in year ahead
15/12/2004. The National Venture Capital Association has predicted a healthy outlook for the year ahead based on the strength of institutional interest in the asset class and an upturn in the venture cycle. Mark Heesen said 2005 will be characterized by the deployment of newly raised funds and an increase in early stage investing - effectively marking a new chapter for VC firms and the end of the post-bubble investment phase.
European Permira and US Apollo bid for retailer Toys R Us
14/12/2004. European buy-out firm Permira has teamed up with US counterpart Apollo to bid for the global operations of troubled retailer Toys R Us.
Data shows clear signs of venture capital recovery, investing and divesting, in 2004
14/12/2004. The venture capital sector has enjoyed its first sustained period of growth in both investing and in liquidity this year since the implosion of the technology bubble in 2000, according to new data. There has been plenty of evidence of the recovery in the US since early in 2004 but the numbers crown the long-awaited turnaround.
CalPERS cuts private equity allocation to 6 per cent from 7 per cent
14/12/2004. CalPERS, the giant US public sector pension fund, has reduced its allocation to private equity to six per cent from seven per cent as part of a broader shift to its portfolio. The $177bn fund stressed its decision should not be interpreted as the start of a withdrawal from the asset class.
US investors Cerberus and Ampersand buy Bayer's plasma products business for $590m
14/12/2004. German-based pharmaceutical and chemical enterprise Bayer has signed an agreement to sell the assets of its worldwide plasma products business to NPS BioTherapeutics, a newly formed corporation controlled by affiliates of US investors Cerberus Capital Management and Ampersand Ventures.
Seven promotions at European private equity firm Industri Kapital
13/12/2004. European private equity firm Industri Kapital has announced the promotion of seven team members.
European buy-out firm Bridgepoint acquires UK retailer Faith Shoes for £64m
13/12/2004. European buy-out firm Bridgepoint has acquired Faith Shoes in a transaction totalling £64m.
Standard Life holds 250m first close on new European fund of funds
13/12/2004. Standard Life Investments, the Edinburgh-based fund manager, has held a first close with 250m of commitments for its new fund of funds vehicle European Strategic Partners 2004. The fund will invest in both primary funds and direct private equity investments.
AIG Private Equity Portfolio III closes with $239m in capital commitments
13/12/2004. AIG Private Equity Portfolio III, the latest fund of funds offering from AIG Global Investment, has closed with commitments totalling $239m.
Aberdeen Murray Johnstone Private Equity hires Thomas as senior investment manager
13/12/2004. Aberdeen Murray Johnstone Private Equity has appointed Wayne Thomas as senior investment manager in their Leeds office. Thomas joins AMJPE with responsibility for Yorkshire and the North East of England.
Apax Partners completes refinancing of French Frans Bonhomme
13/12/2004. Apax Partners has completed the refinancing of its investment in French buildings supplies distributor Frans Bonhomme 14 months after the initial 520m investment. It enables the repayment of approximately half the mezzanine and all the convertible bonds initially subscribed by the shareholders.
Coller Capital buys direct portfolio of Canadian publicly-backed VC Innovatech
10/12/2004. UK-based secondaries specialist Coller Capital has pulled off the acquisition of yet another of direct venture capital portfolio with the privatisation of the venture arm of the government of Quebec. Coller will be investing a total of C$200m (around 123m) in buying the entire portfolio of Societe Innovatech du Grand Montreal.
German private equity firm Argantis to acquire haulage firm NordSόd
10/12/2004. Cologne-based private equity firm Argantis has done its first deal since being set up last year, acquiring haulage business NordSόd Speditionsgesellschaft from Hella KGaA Hueck & Co. Negotiations started in summer 2004. The financial terms of the deal have not been disclosed.
Canadian Ontario Teachers' to buy Alliance Laundry Systems
10/12/2004. Teachers' Private Capital, the private equity arm of the Ontario Teachers' Pension Plan, has signed an agreement to purchase Alliance Laundry Holdings from Bain Capital Partners for approximately US$450m. The transaction is Teacher's first direct investment in the US.
US Prospect Venture Partners closes $500m fund
10/12/2004. California-based Prospect Venture Partners has closed its third fund, Prospect Venture Partners III, comfortably ahead of target with commitments of $500m.
Shankar Narayanan joins Carlyle as managing director in India
10/12/2004. Shankar Narayanan has joined private equity firm The Carlyle Group as managing director in India. He will lead venture and growth capital investments.
US buy-out firms to take minority stake in Fidelity National Information Services
09/12/2004. US buy-out groups Texas Pacific Group and Thomas H. Lee Partners are about to acquire a 25 per cent stake in Fidelity National Information Services from its parent Fidelity National Financial for around $500m.
Electra Partners Europe acquires German Thyssen Krupp Fahrzeugguss
09/12/2004. European private equity firm Electra Partners Europe has bought Thyssen Krupp Fahrzeugguss, a German supplier to the automotive industry, for 155m.
CSFB to spin off buy-out funds
09/12/2004. Credit Suisse First Boston plans to spin off some of its private equity funds to reduce potential competition with clients. The bank has said it will spin out its Merchant Banking Partners business, its Credit Opportunities Fund and the Diversified Credit Strategies Fund but is planning to maintain a significant financial interest in these funds.
US Rho Ventures closes fund with commitments of $425m
08/12/2004. US Rho Ventures has closed its fifth fund, Rho Ventures V, with commitments of $425m. The fund will invest in companies seeking early through expansion stage funding in a range of sectors including communications, healthcare and information technology.
Canadian Onex to acquire Laidlaw units American Medical Response and EmCare
08/12/2004. Onex Partners, the private equity arm of Toronto-based Onex Corporation, has agreed with Laidlaw International to acquire two of its subsidiaries, US health services companies American Medical Response and EmCare. The transaction is valued at Can$980m.
Tax partner Jan Birtwell joins O'Melveny and Myers' private equity team
08/12/2004. Jan Birtwell is joining law firm O'Melveny & Myers as a tax partner in the firm's M&A and private equity practice in London. Birtwell was head of the private equity tax team at Linklaters.
UK buy-out firm ECI Partners appoints Gordon McNair as investment executive
08/12/2004. UK buy-out firm ECI Partners has appointed Gordon McNair as an investment executive. McNair was appointed to strengthen the investment team at a time when ECI is about to embark on its next round of fundraising, the firm said in a statement.
ERP-EIF Dachfonds cornerstones TVM Life Science Ventures VI
08/12/2004. The European Investment Fund has signed a cornerstone commitment in TVM Life Science Ventures VI, a venture capital fund focusing primarily on investments in early and development-stage biotechnology and biopharmaceutical companies.
Private equity investor GMT has appointed Ashley Long as partner and CFO
08/12/2004. GMT Communications Partners has appointed Ashley T M Long as partner and chief financial officer. He will take over responsibility for fund and portfolio company reporting and monitoring as well as transaction support and operations.
Nokia Venture Partners announces $100m later-stage fund
07/12/2004. Corporate venturing unit Nokia Venture Partners has launched a new mid to late-stage $100m fund called Nokia Growth Partners. The fund will invest in mobile technology companies from around the world.
Apax and Cinven complete acquisition of German fashion retailer CBR Holding
07/12/2004. Apax Partners and Cinven are to acquire the German fashion group CBR Holding as equal partners with equal shares. Financial terms have not been disclosed.
Carl Zeiss and Nordic EQT acquire the eyeglass business of SOLA International
07/12/2004. Nordic buy-out group EQT has joined forces with the German optical equipment developer Carl Zeiss to buy the US eyeglass business SOLA. The acquisition will be merged with Zeiss' eyeglass unit to form one of the biggest global firms in its sector, jointly owned by Zeiss and EQT.
Healthcare sector remains active with EAC sale of French nursing home
06/12/2004. UK-based private equity firm European Acquisition Capital has sold Reacti-Malt SAS, a French nursing home operator, for just under 100m to Suren Holding, a subsidiary of the French Batipart Group. The transaction provides further evidence of the high levels of trade and financial interest in the healthcare sector across Europe.
UK Graphite backs secondary buy-out of Aktrion from Bridgepoint
06/12/2004. UK private equity firm Graphite Capital has backed the secondary buy-out of Aktrion, the UK-based managed outsourced services group, from existing majority shareholder Bridgepoint. The financial terms of the deal have not been disclosed but sources close to Bridgepoint said that the firm made a satisfactory return on the deal.
Petri Niemi becomes head of CapMan's Nordic Technology Business Unit
06/12/2004. Petri Niemi has been promoted to take over as head of CapMan's Nordic Technology Business Unit with effect from the start of 2005. He will also become a member of CapMan's Nordic Steering Group.
US Foundation Coal's IPO could quadruple Blackstone's money
06/12/2004. The flotation of US coal producer Foundation Coal later this week could quadruple its backers' money less than six months after their initial investment, according to the Financial Times. The consortium of firms that backed the buy-out earlier this year was led by the Blackstone Group.
Asian HSBC Private Equity Fund 3 closes on $700m
03/12/2004. HSBC Private Equity (Asia) has closed its HSBC Private Equity Fund 3 after receiving commitments of $700m. The fund will invest in mid-market Asian companies, with a primary focus on China, India, Malaysia, Singapore, South Korea, Taiwan and Thailand.
Blackstone expands UK cinema empire with UGC acquisition
03/12/2004. US private equity giant Blackstone has expanded its UK cinema empire with the acquisition of the UK and Irish operations of UGC through its portfolio company Cineworld UK.
UK Cinven has acquired 11 per cent stake in French Eutelsat for 337m
03/12/2004. European buy-out firm Cinven has bought an 11 per cent stake in satellite firm Eutelsat from DeaSat. The deal, worth 337m, has been authorised by the board of Eutelsat.
Former M&S CEO Roger Holmes rejoins Vandevelde at Change Capital
03/12/2004. Roger Holmes, the former chief executive of UK retailer Marks and Spencer has rejoined his former M&S chairman Luc Vandevelde at private equity firm Change Capital Partners.
Buy-out firms loose out as NTL sells its UK towers to Macquarie consortium
03/12/2004. A number of buy-out firms had demonstrated their interest in the UK towers by submitting bids over the past few weeks, but NTL has now announced that it will sell its UK towers to a consortium led by Australia's Macquarie Communications Infrastructure Group.
French AXA Private Equity expands into Asia
02/12/2004. French AXA Private Equity has announced it will open an office in Singapore early next year, continuing the recently rapid expansion that has seen it spread its interests deeper into direct, fund and secondary fund investing.
US Ripplewood completes Honsel buy-out and hires ex-Chrysler chief
02/12/2004. US buy-out firm Ripplewood Holdings has completed its acquisition of Luxembourg-based Honsel International Technologies Holdings, a manufacturer of automotive components, from the Carlyle Group. It has also announced the hiring of former DaimlerChrysler president Thomas T Stallkamp to help with its ambitions in the global auto components industry.
HgCapital floats UK Raymarine
02/12/2004. European private equity firm HgCapital said that it will realise £82m in cash from its investment in UK Raymarine following the company's flotation on the London Stock Exchange. The exit represents a return of around four times its initial investment.
US KKR launches recommended bid for German recycling firm
02/12/2004. US private equity giant KKR has launched a 260m recommended takeover bid for German recycling firm Duales System Deutschland. KKR needs to secure the support of 95 per cent of the shareholders before December 23rd.
Apax buys 49 per cent share of German cosmetics sales company LR-International
02/12/2004. Apax has acquired a 49 per cent share of German LR-International Cosmetic & Marketing. The financial details of the deal have not been disclosed.
Stockholm-based Segulah sells Education and Entertainment Nordic AB
01/12/2004. Nordic buy-out firm Segulah has sold its stake in Education and Entertainment Nordic to a consortium backing some of the firm's existing management. The sale, which also provided an exit for Duke Street Capital, marks the realisation of the last investment in Segulah's first fund.
US private equity firm Clayton, Dubilier & Rice to lead 3.7bn purchase of Rexel
01/12/2004. US buy-out group Clayton Dubilier & Rice has joined forces with French listed buy-out group Eurazeo and Merrill Lynch Global Private Equity to buy a 73.5 per cent stake in electrical products distributions business Rexel from its French parent Pinault-Printemps-Redoute. The deal is valued at 3.7bn, making it the largest leveraged transaction in Europe so far this year.
US private equity firm Carlyle acquires Japanese manufacturer Rhythm
01/12/2004. US private equity giant The Carlyle Group has maintained the dynamic pace of its Asian activity with the acquisition of Japanese car components manufacturer Rhythm Corporation. The firm was bought from private equity captive JPMorgan Partners.
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