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SVG Diamond II raises 500m for private equity investment
28/02/2006. SVG Diamond II has raised 500m through a collateralised fund obligation of private equity funds, comprising 325m of investment grade bonds and preferred equity shares representing commitments of 175m as at closing. 
Investcorp Technology Ventures to acquire Conduit for 90m
28/02/2006. New York and London-based Investcorp Technology Ventures, the venture capital arm of Investcorp, has agreed to acquire European directory assistance provider Conduit for 90m.
21 Investimenti to raise 250m French fund and 150m Italian fund in 2006
28/02/2006. Franco-Italian private equity firm 21 Investimenti is in the early stages of raising a new French fund. Its target is 250m. The firm is also looking to raise a new Italian fund - with a target size of 150m - in the second half of this year.
Axel Holtrup joins Silver Lake Partners as director
27/02/2006. Technology-focussed US private equity firm Silver Lake Partners has appointed Axel Holtrup as a director, based in the firm's London office. He will work alongside managing director Egon Durban to build Silver Lake's presence in Europe.
Syntaxis launches to provide mezzanine capital to Central European businesses
27/02/2006. A new firm, Syntaxis Capital, has launched to become a new force in arranging and providing mezzanine capital to medium-sized Central European businesses. The firm will initially operate through offices in Vienna and Warsaw.
Apax-led group of investors to sell French jewellery distributor Histoire d'Or to PPM
24/02/2006. A group of investors led by global private equity firm Apax Partners has agreed to sell Histoire d'Or, a French jewellery distributor, to mid-market private equity specialist PPM Capital for 230m.
Lehman Brothers Merchant Banking to acquire Heinz's European Seafood business
23/02/2006. Lehman Brothers Merchant Banking has agreed with H.J. Heinz Company to acquire its European Seafood business for 425m. Lehman Brothers Merchant Banking is partnering with the current CEO Adolfo Valsecchi and David Williams, the former CEO of Heinz Europe.
EIF, CDTI launch investment programme to boost technology SMEs in Spain
23/02/2006. The European Investment Fund has launched an investment programme together with the Centre for the Development of Industrial Technology (Centro para el Desarrollo Tecnolσgico Industrial), a public business entity of the Spanish Ministry of Industry, Tourism and Commerce, to boost technology SMEs in Spain.
Black Diamond Capital Management hires Blackstone's Christopher Boyle
22/02/2006. Alternative asset management firm Black Diamond Capital Management has appointed Christopher Boyle as a director. He will focus on control-oriented private equity funds and will be based in the firm's Greenwich, Connecticut, office.
HarbourVest and AlpInvest complete secondary transaction in Germany
22/02/2006. HarbourVest Partners and AlpInvest Partners have completed a secondary transaction involving the establishment of a new fund, Paragon Partners Secondary. As a result of the transaction, Paragon Partners acquired an existing portfolio of three European companies providing an exit to German private equity fund manager Afinum.
Altor closes 1.15bn fund for Nordic region
22/02/2006. Altor has closed its latest fund, Altor Fund II, on 1.15bn. The fund will invest in medium-sized Nordic companies with a turnover of between 50 and 500m.
American Capital opens Boston office, forms technology group
21/02/2006. American Capital Strategies has opened a Boston office as part of its plan to expand its investment activities in the technology sector. The Boston office will be led by Andy Fillat, managing director and Tony Abate, managing director. The company expects to further expand the team in the near future with an office in California.
Partners Group plans IPO on SWX Swiss Exchange
21/02/2006. Swiss-based alternative asset manager Partners Group plans to list on the SWX Swiss Exchange. The IPO is expected to take the form of a public offering in Switzerland and private placements in selected countries and contemplates a preferred allocation programme for certain clients and business partners of the firm.
Report: European buy-out deals top 100bn for first time ever in 2005
21/02/2006. The total value of deals in the European buy-out market in 2005 topped 100bn for the first time ever, according to the latest European Buyout Review to be published by Incisive Media in association with Bridgepoint.
AXA Private Equity acquires German private equity fund Steadfast Capital Beteiligungen I
21/02/2006. A consortium led by AXA Private Equity and also including CSFB Strategic Partners and Paul Capital Partners has acquired the German private equity fund Steadfast Capital Beteiligungen I. The fund was sold by ING Group.
Guy Paisner joins UK-headquartered Altius Associates
21/02/2006. UK-headquartered private equity gatekeeper Altius Associates has appointed Guy Paisner as European partner, client services.
CDC, Banexi sell Groupe Trefilaction
21/02/2006. CDC Entreprises Services Industrie and Banexi Capital Partenaires have sold Groupe Trefilaction, a French marketing partner of mass retailers for fasteners and small hardware products, to Pragma Capital, CIC LBO Partners and the company's management team.
Apollo Management completes acquisition of Covalence Specialty Materials Corp.
20/02/2006. US buy-out firm Apollo Management has completed its acquisition of Covalence Specialty Materials Corp., formerly the plastics and adhesives operation of Tyco International, in a $975m transaction.
Quadrangle appoints Robert M Donahue Jr, teams up with Harpoon
20/02/2006. New York City-based alternative investment firm Quadrangle Group has appointed Robert M Donahue, Jr as a managing principal, and his colleagues Ryan Brown and John Hill as vice presidents.
AIG PineStar Capital closes on $700m
20/02/2006. AIG Global Investment Group has held a third and final closing of AIG PineStar Capital with equity commitments totalling $700m.
KPCB forms $600m KPCB XII Fund, $200m KPCB Pandemic and Bio Defense Fund
17/02/2006. Kleiner Perkins Caufield & Byers has established the $600m KPCB XII and the $200m KPCB Pandemic and Bio Defense Fund.
European venture capital firms raise highest amount in three years in 2005
17/02/2006. European venture capital firms raised the highest amount in three years in 2005, with fundraising totalling 3.7bn, according to VentureOne. The total amount was 160 per cent more than the 1.42bn raised in 2004, although two fewer funds closed in 2005.
Platinum Equity to acquire PNA Group from TUI
17/02/2006. Platinum Equity has agreed to acquire PNA Group, a processor and distributor of steel products with annual revenue of approximately $1.2bn, from largest travel and tourism company TUI.
United States Power Fund II acquires interest in Tenaska Washington Partners
17/02/2006. Energy Investors Funds has announced that its United States Power Fund II has acquired an approximate 74 per cent interest in Tenaska Washington Partners. Financial details of the transaction were not disclosed.
Mid Europa buys Wheelabrator Group
17/02/2006. Mid Europa Partners has acquired Wheelabrator Group, a surface preparation and finishing equipment specialist, from a group of private investors led by Bard & Company of the US. Mid Europa has completed the acquisition of all outstanding Wheelabrator Group equity through its Emerging Europe Convergence Fund II.
Advent International opens Amsterdam office
16/02/2006. Advent International has opened an office in Amsterdam, which will be led by Teartse Schaper. Schaper will be supported from London by Advent managing director John Singer.
Kennet Venture Partners hires Eileen Tanghal as director
16/02/2006. Technology venture capital firm Kennet Venture Partners has appointed Eileen Tanghal as director, based in the firm's London office.
Eqvitec Technology Fund III holds first closing
16/02/2006. Eqvitec Partners has held a first closing on its latest fund, Eqvitec Technology Fund III, on 130m. The capital was raised from nine institutional investors: half of the commitments came from Finnish investors and the other half from international investors.
3i sells German company betapharm Arzneimittel in 480m transaction
16/02/2006. 3i has sold Augsburg, Germany-based generic pharmaceutical company betapharm Arzneimittel to Hyderabad, India-based pharmaceutical company Dr. Reddy's Laboratories in a 480m transaction. The sale also includes the not-for-profit beta institute.
Duke Street's Esporta completes refinancing
15/02/2006. Duke Street Capital-owned Esporta has completed a refinancing of its senior debt facilities, releasing a further £120m of cash to fund both acquisitions and organic growth through new site roll out. The new debt facility is £306.2m.
Ignition Partners teams up with Chinese investors to form Qiming Venture Partners
15/02/2006. US venture firm Ignition Partners has joined forces with Duane Kuang, former director of Intel Capital China, and Gary Rieschel, founder and former managing director of Mobius Venture Capital, to form Qiming Venture Partners.
Thomas Weisel Partners hires Sreenivasulu Vudayagiri
15/02/2006. Investment bank Thomas Weisel Partners Group has hired Sreenivasulu 'Srini' Vudayagiri as director and head of asset management for its subsidiary Thomas Weisel International Private Limited. Vudayagiri will lead TWI's India-focused private equity and venture capital fund of funds.
Arcapita acquires technology solutions provider Roxar in $200m transaction
14/02/2006. Arcapita, the European private equity arm of Bahrain-headquartered investment firm Arcapita Bank, together with Roxar management, has completed the acquisition of a 100 per cent interest in Roxar from Lisme, a holding company owned by Lime Rock Partners and Smedvig, in a $200m transaction.
AXA Private Equity increases activity in Asia
14/02/2006. AXA Private Equity plans a major expansion of its activities in Asia with a first allocation of $550m. The firm will invest the capital in funds and into companies and also through co-investments.
Stirling Square backs buy-out of Whittan Storage Systems from Permira
14/02/2006. Stirling Square Capital Partners has backed the buy-out of Whittan Storage Systems from Permira. Total funding for the transaction is approximately £90m.
3i sells Williams Lea stake to Deutsche Post for £110m
14/02/2006. 3i has sold its minority stake in Williams Lea, a provider of customised corporate information solutions, to Deutsche Post for £110m. 3i's proceeds represent a money multiple of 3.4 times and an IRR of 83 per cent, according to 3i.
Duke Street to acquire Deloro Stellite
13/02/2006. UK and French buy-out firm Duke Street Capital has agreed to acquire Deloro Stellite from Vision Capital. Financial details of the transaction were not disclosed. Duke Street is backing the existing management team.
Venture capital investing in European companies declines
13/02/2006. Venture capital investing into European companies slowed in 2005 compared to 2004. In 2005 a total of 1,020 financing rounds were completed and 3.6bn was invested, which represents a decline of 16 per cent from the 1,214 financing rounds completed in 2004 and a decline of five per cent from the 3.79bn invested in 2004, according to the European Venture Capital Report released by Ernst & Young and Dow Jones VentureOne.
US Clarus Ventures expands investment team
10/02/2006. New US life sciences venture capital firm Clarus Ventures has appointed three principals and a controller to its investment team. Dr Emmett Cunningham, Dr Michele Park and Scott Requadt are the new principals and Danielle Bechard is the new controller.
W. R. Berkley Corporation appoints Frank T Medici as president of Berkley Capital
10/02/2006. W. R. Berkley Corporation has appointed Frank T Medici as president of Berkley Capital, an investment management unit responsible for certain of the corporation's private equity investments.
JPMorgan Partners to sell IMO Car Wash Group to Carlyle
10/02/2006. JPMorgan Partners has agreed to sell European car wash company IMO Car Wash Group to The Carlyle Group. Financial terms of the transaction were not disclosed.
SGAM AI holds first closing of SGAM Eastern Europe
09/02/2006. Sociιtι Gιnιrale Asset Management Alternative Investments has held a first closing of SGAM Eastern Europe on 80m. The target size of the fund is 150m. The firm expects to announce the final closing by the end of this year. SGAM Eastern Europe will target investments in expansion capital and buy-out transactions in Eastern and Central Europe.
US venture capital firms raise $22bn in 2005
09/02/2006. US venture capital firms raised $22.16bn in 2005, which represents a 19 per cent increase over the $18.66bn raised in 2004. It also makes 2005 the largest fundraising year since 2001, according to VentureOne.
Permira has £762m HMV takeover approach rejected
08/02/2006. Music and video retailer HMV has rejected a 190 pence takeover approach from Europe-based private equity firm Permira shortly after the takeover approach was submitted.
MidOcean Partners to sell Vitaquest International to CK Life Sciences
07/02/2006. New York and London-based middle market private equity firm MidOcean Partners has agreed to sell its majority stake in Vitaquest, a specialty nutritional products specialist, to an affiliate of Hong Kong-based biotechnology company CK Life Sciences. The transaction values Vitaquest at $345m.
Warburg Pincus to acquire interests in Builders FirstSource from JLL Partners
07/02/2006. Warburg Pincus has agreed to acquire to acquire a 26.2 per cent beneficial ownership interest in Dallas, Texas-headquartered Builders FirstSource, a supplier and manufacturer of structural and related building products for residential new construction in the US, from JLL Partners.
Venture Investment Associates appoints Eliot Powell
07/02/2006. Eliot Powell has joined the Venture Investment Associates' investment team as a managing director.
Graphite Capital backs BIMBO of UK tyre wholesaler and distributor
07/02/2006. Mid-market private equity specialist Graphite Capital is backing the buy-in management buy-out of UK tyre wholesaler and distributor Micheldever Tyre Services from founder Tony Todd. Graphite is taking a 72 per cent stake and the management will own the remaining shares.
KKR hires Ming Lu as managing director
06/02/2006. US buy-out giant Kohlberg Kravis Roberts & Co. has appointed Ming Lu as a managing director, based in the firm's new Hong Kong office. Lu was previously a partner and managing director in the Hong Kong office of CCMP Capital (formerly JPMorgan Partners Asia).
ABN AMRO Capital, BBS Capital to sell Sogetrel to Barclays Private Equity
06/02/2006. ABN AMRO Capital and BBS Capital have agreed to sell Sogetrel to Barclays Private Equity France and management for an enterprise value of 90.3m.
Candover appoints Bertrand Finet to join Paris office
06/02/2006. European buy-out specialist Candover has appointed Bertrand Finet as a partner in its Paris office.
Mark Ruddock joins Ventures West as entrepreneur in residence
06/02/2006. Canadian venture capital firm Ventures West has appointed Mark Ruddock as entrepreneur in residence. Ruddock will focus on identifying and evaluating investment opportunities in the software and IT sector.
Babson Capital closes $1bn mezzanine and private equity fund
06/02/2006. Babson Capital Management has closed Tower Square Capital Partners II, a $1bn mezzanine and private equity fund. The new fund will invest in companies at the small end of the middle market.
Paul Capital Partners appoints Jamie Johnson
06/02/2006. Paul Capital Partners has appointed Jamie Johnson as a managing director in the firm's San Francisco office.
US Riverside hires Pamela Hendrickson as chief operating officer
03/02/2006. The Riverside Company has appointed Pamela Hendrickson to the newly created post of chief operating officer. In her new role Hendrickson will streamline processes and maximise efficiencies.
US mid-market buy-out firm Genstar Capital hires Keith E Oster
02/02/2006. San Francisco-based buy-out firm Genstar Capital has appointed Keith E Oster as managing director. Oster's responsibilities will include sourcing and executing
acquisitions, divestitures and oversight of portfolio companies.
Permira to raise up to 10bn
02/02/2006. Europe-based private equity firm Permira plans to raise up to 10bn for its fourth buy-out fund, the Financial Times reported. The new fund is expected to invest across Europe, in the US and in Asia.
Nordic private equity firm CapMan appoints Kaisa Arovaara as deputy CFO
02/02/2006. Nordic private equity firm CapMan has appointed Kaisa Arovaara as deputy CFO. In addition, Arovaara will act as a member of the Management Group of CapMan during CFO Olli Liitola's sabbatical leave from 8 February to 7 July 2006.
RoundTable to sell American Medical Instruments Holdings for $785m
02/02/2006. RoundTable Healthcare Partners, an operating-oriented private equity firm focused exclusively on the healthcare industry, has agreed to sell its portfolio company American Medical Instruments Holdings to Vancouver-based specialty pharmaceutical company Angiotech Pharmaceuticals for $785m in cash.
VSS, Mecom to acquire German newspaper Hamburger Morgenpost
01/02/2006. US media buy-out specialist Veronis Suhler Stevenson and David Montgomery's UK-based investment company Mecom Group have agreed to acquire German newspaper Hamburger Morgenpost through their vehicle BV Deutsche Zeitungsholding. The purchase price was not disclosed. Currently Hamburger Morgenpost is owned by Hans Barlach and Josef Depenbrock.
PE and VC firms invest $1.5bn in Indian-founded companies in US during 2005
01/02/2006. Private equity and venture capital firms invested about $1.5bn in 125 Indian-founded companies in the US during 2005, according to Venture Intelligence India. This represented a slight decrease from 2004 when 129 companies raised $1.6bn.
Paladin secures $40m commitment from CalPERS for debut clean technology fund
01/02/2006. Los Angeles, California-based private equity firm Paladin Private Equity Partners has announced that CalPERS has committed to invest $40m and will be a lead investor in Paladin Private Equity Partners I. Paladin plans to raise a total of $200m in aggregate commitments.
Axel Springer will not take over ProSiebenSat.1 Media
01/02/2006. The management board of Axel Springer and P7S1 Holding, the investor group lead by Saban Capital Group, have terminated plans for Axel Springer to acquire German private TV broadcasting company ProSiebenSat.1 Media.
Permira to acquire Aearo Technologies for $765m
01/02/2006. Europe-based private equity firm Permira has agreed to acquire Aearo Technologies, an Indianapolis, Indiana-based designer, manufacturer and marketer of personal protective products and energy-absorbing composites, for approximately $765m. Aearo is currently majority-owned by Bear Stearns Merchant Banking, together with an investor group including Aearo's management.
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