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OrbiMed Advisors closes Caduceus Private Investments III on $500m
28/04/2006. OrbiMed Advisors, an investment management firm focused on the healthcare sector, has closed its new venture capital fund, Caduceus Private Investments III, on $500m. 
Carlyle Venture Partners' Robert Grady new chairman of NVCA
28/04/2006. Robert E Grady, a managing partner at Carlyle Venture Partners, The Carlyle Group's US venture and growth capital organisation, has been elected as 2006-2007 chairman of the US National Venture Capital Association. He is taking over from Austin Ventures general partner Joe Aragona.
TowerBrook buys Pharmaceutical Fine Chemicals from Clariant
28/04/2006. TowerBrook Capital Partners, the private equity firm founded by former Soros Private Equity senior professionals, has bought Pharmaceutical Fine Chemicals from Clariant in a CHF 110m (approximately €70m) transaction.
Private Equity Investors closes fourth secondaries fund above target on $170m
28/04/2006. New York-headquartered Private Equity Investors has closed its fourth secondaries fund, Private Equity Investment Fund IV, on $170m. The original target of the fund was $150m.
Alterra Private Equity Group launches Alterra U.S. Venture Capital Fund
27/04/2006. Canadian firm Alterra Private Equity Group has launched the Alterra U.S. Venture Capital Fund. Spencer Trask Asset Management, a subsidiary of New York-based venture capital firm Spencer Trask & Co., is the sub-advisor to the fund.
Ariadne Capital appoints Staffware founder John O'Connell as chairman
27/04/2006. London-based Ariadne Capital has appointed John O'Connell as its new chairman. O'Connell, the founder of software company Staffware, sold Staffware to Tibco Software in 2004 for $240m.
Schroder Private Equity Fund of Funds III closes on €422m
26/04/2006. Schroder Private Equity Fund of Funds III has held a final closing on €422m. The original target of the fund was around €285m. A first closing was held in October 2005, on €167m. SPEFOFIII is advised by SVG Advisers, the fund management business of SVG Capital.
CDC commits $100m to African agribusiness fund
26/04/2006. Emerging markets specialist CDC has committed $100m to the Actis Africa Agribusiness Fund, a fund dedicated to the agribusiness and forestry sectors across East, Central and West Africa. The fund will be managed by Actis and operate out of Nairobi.
Scottish Equity Partners launches third venture capital fund
26/04/2006. Scottish Equity Partners has launched a new venture capital fund, SEP III. The firm has already secured participations of over £120m from UK and European institutional investors, according to a statement. The target of the fund has not been confirmed yet.
BC Partners to sell General Healthcare Group to Netcare
26/04/2006. BC Partners has agreed to sell UK private hospital group General Healthcare Group. A consortium consisting of Network Healthcare Holdings (Netcare), Apax Partners Worldwide, Regional Properties and Brockton Capital has agreed to acquire 100 per cent GHG for £2.2bn.
Nordic firm Northzone Ventures closes fifth fund on €175m
25/04/2006. Northzone Ventures - a venture capital firm specialising in early stage fast growth technology, software and telecom companies, primarily in the Nordic region - has closed Northzone V on €175m. There was no interim closing.
Satish Mandhana joins IDFC Private Equity as executive vice president
25/04/2006. IDFC Private Equity, the private equity arm of IDFC, has appointed Satish Mandhana to its investment team as executive vice president.
ComVentures hires Baris Karadogan to focus on communications companies
25/04/2006. Early stage venture capital firm ComVentures has appointed Baris Karadogan as partner. Karadogan will focus on identifying investment opportunities in the internet, new media and mobile markets and support existing portfolio companies.
WR Hambrecht + Co, Geneva Venture Partners form Hambrecht Geneva Ventures Fund
25/04/2006. Investment bank WR Hambrecht + Co and early stage venture capital firm Geneva Venture Partners have formed Hambrecht Geneva Ventures Fund. Hambrecht Geneva Ventures is a $50m venture capital fund that will invest in early stage technology companies, primarily in the software sector.
The Rutland Fund to sell Uskmouth Power Station
25/04/2006. The Rutland Fund has agreed to sell its entire interest in Carron Energy, the owner of Uskmouth Power Station, to a specially formed company backed by Deutsche Bank, Strategic Value Partners and Trafalgar Asset Managers for a cash consideration valuing Uskmouth at £125m. The new owner will also acquire the working capital of the business.
Partners Group Asian fund of funds has final close
24/04/2006. Swiss-based Partners Group has announced a final close for its Asian private equity fund, Partners Group Asia-Pacific 2005. Partners reported that client demand for the new fund exceeded their cap of $375m and requested allocations had to be reduced accordingly.
US venture market recovers to 2001 levels
24/04/2006. US venture capital investing rose 18 per cent over a year ago, reaching $6.02bn across 564 deals, according to research released by VentureOne and Ernst & Young. Overall deal count increased 6 per cent from the first quarter of 2005, while the amount invested was the most venture capital expended in a first quarter since Q1 2001.
Everything But Water sold to Bear Growth Capital Partners
21/04/2006. Bear Growth Capital Partners has announced the acquisition of Everything But Water, a US retailer of women's contemporary swimwear.
Young Sohn joins Panorama Capital
21/04/2006. US venture firm Panorama Capital has added Young Sohn as a founding managing director and member of the firm's technology investment team. Sohn will focus on investments in systems, semiconductors and component companies.
Carlyle and Riverstone form US Phoenix Exploration
21/04/2006. Carlyle/Riverstone Global Energy and Power Funds back a new oil and gas firm with its focus on exploration in the Gulf Coast and Gulf of Mexico shelf region.
Carlyle and Atlas Venture agree to sell Orthogon Systems
20/04/2006. Private equity firms The Carlyle Group and Atlas Venture have announced the sale of wireless ethernet firm Orthogon Systems to Motorola.
Riverside acquires US window film manufacturer
20/04/2006. The middle-market private equity firm, The Riverside Company, has announced its acquisition of Commonwealth Laminating and Coating. This marks Riverside’s seventh acquisition of 2006.
Jean Paul Vettier appointed senior advisor to First Reserve Corporation
20/04/2006. Private equity energy investor First Reserve Corporation has appointed Jean Paul Vettier as senior advisor. At First Reserve, Vettier will assist in investment sourcing and selection.
David Harland joins senior management of Lyceum Capital
20/04/2006. Lyceum Capital - until recently operating as West Private Equity - has announced the appointment of David Harland to the senior management of Lyceum as operations director.
Venture-backed European IPOs slow in Q1 2006
20/04/2006. According to the European Liquidity Report from VentureOne, eight venture-backed European companies completed initial public offerings in the first quarter of 2006, raising €180.3m.
Dennis Longstreet joins RoundTable
20/04/2006. RoundTable Healthcare Partners has appointed Dennis N Longstreet to the position of senior advisor to the firm.
Australian CHAMP acquires cluster of specialty food companies
20/04/2006. Castle Harlan has announced that CHAMP, a holding company formed by its Australian affiliate, has acquired four distributors of branded specialty foods in Australia and New Zealand.
Focus Ventures closes $250m fund
20/04/2006. US-based Focus Venture Partners has closed its $250m third fund, Focus Ventures III. The latest fund brings the firm’s capital under management to $850m.
Peter Fenton joins Benchmark Capital as GP
20/04/2006. The high-technology venture capital firm Benchmark Capital has appointed Peter Fenton as a general partner.
Final close for Polaris Private Equity II
19/04/2006. Danish PE house Polaris Private Equity has had a final close on their second fund with commitments of €270m, comfortably beating their initial target of €210m.
GNI backed by Goldman Sachs
19/04/2006. Biopharmaceutical firm GNI has announced that Goldman Sachs is investing Y301m of venture money in the firm, bringing the total invested in the firm to Y3bn.
First close for Clairvest's $300m private equity fund
19/04/2006. Clairvest Group has announced the first closing of Clairvest Equity Partners III, with the CPP Investment Board in the seat as lead investor.
New Homes Realty sold to Alta Communications
19/04/2006. Hyde Park Capital Advisors has sold New Homes Reality to Boston-based private equity firm, Alta Communications.
West Private Equity to re-brand as Lyceum Capital as the firm goes independent
18/04/2006. West Private Equity has announced that AlpInvest and AXA Private Equity have agreed to acquire all of the investments owned by WestLB in West's first fund, as well as taking over remaining commitments to WPE Fund 2000.
Norwest Venture Partners has final close on $650m venture fund
18/04/2006. Technology venture capital firm Norwest Venture Partners has announced the formation of Norwest Venture Partners X, LP. The $650m fund is targeting early stage investments in the global information technology sector.
Warburg Pincus and JPMorgan Partners sell Latigo Petroleum for $750m
18/04/2006. The Pogo Producing Company has announced that it has entered into a definitive agreement to acquire Latigo Petroleum for a total cash purchase price of $750m.
US private equity fundraising stays strong for Q1 2006
18/04/2006. Venture fundraising activity is expected to level off, predicts the NVCA and Thomson Venture Economics, but North American buy-out funds show no signs of slowing. The first quarter of the year had 93 funds raising a combined $31.4bn - while 51 venture funds accounted for $6.5bn of the total, 42 buy-out vehicles raised $24.9bn.
Flextronics goes to KKR in $900m deal
18/04/2006. Kohlberg Kravis Roberts & Co has signed a definitive agreement to acquire the software development and solutions business of Flextronics International in a transaction valued at approximately $900m. The acquisition marks KKR's first investment in India.
GTCR signs off on $975m acquisition of ADP's claim services group
18/04/2006. Solera and private equity firm GTCR Golder Rauner have completed the acquisition of CSG from the firm Automatic Data Processing for $975m in cash.
€397m Marie Brizard exit for Duke Street Capital
18/04/2006. Private equity fund manager Duke Street Capital has announced the sale of its majority 69.3 per cent stake in Marie Brizard & Roger International to the French spirits group Belvédère for €397m.
Canadian venture fund launched by Garage Technology Ventures
18/04/2006. US seed-stage and early-stage venture fund Garage Technology Ventures has announced the launch of Garage Technology Ventures Canada LP, a CAN $50m fund that will support emerging technology start-ups in Canada.
$5bn suite of private equity funds to be launched by Dubai World and the Dubai Islamic Bank
18/04/2006. In the UAE, the Dubai Islamic Bank and Dubai World have announced the launch of a $5bn family of sector focused private equity funds to participate in strategic transactions on a global basis.
Final close for Palladium's $520m US Hispanic market fund
18/04/2006. Palladium Equity Partners has raised a $520m private equity fund that will focus on investing in companies looking to benefit from the growth of the US's Hispanic population.
Tom Wrenn joins UK buy-out firm ECI Partners
13/04/2006. UK mid-market buy-out firm ECI Partners has appointed Tom Wrenn as investment executive. At ECI, Wrenn will be involved in all aspects of the firm's investment, deal origination and execution, transformation and exit activities.
Stone Point Capital-led consortium submits binding offer for AXA Re
13/04/2006. A consortium led by Stone Point Capital has submitted a binding offer to acquire the business of AXA Re, a wholly-owned subsidiary of AXA. The investor group has formed Paris Re Holdings which will have an initial capitalisation of approximately $1.5bn to assume the ongoing business of AXA Re.
Primary Capital closes third fund on £200m
12/04/2006. UK mid-market private equity fund manager Primary Capital has closed its third fund, Primary III, on £200m, the hard cap of the fund. The fund was launched in October 2005.
GSC Partners raises €1bn European Mezzanine Fund II
12/04/2006. GSC Partners, the transatlantic mezzanine and debt specialist, has closed its second European mezzanine fund, GSC European Mezzanine Fund II. The new fund will invest over €1bn of capital. It will provide capital in the form of subordinated debt to sponsors seeking to finance transactions in Europe.
Intermediate Capital Group closes $500m mezzanine fund for Asia
12/04/2006. UK-based Intermediate Capital Group has closed a $500m mezzanine fund dedicated to investing in Asia. The fund was launched in September 2005 with a $400m target.
EQT to acquire Select Service Partner from Compass Group
11/04/2006. EQT Partners, through its EQT IV fund, has agreed to acquire Select Service Partner (excluding its UK motorways business, Moto), and Compass's US travel concessions business Creative Host Services (together: SSP) from UK-based food service company Compass Group. The Moto business is sold to a consortium led by Macquarie Bank. Both buyers paid a combined £1.82bn for SSP, according to various reports.
Duke Street Capital acquires Food Partners
11/04/2006. UK and French buy-out firm Duke Street Capital has acquired Food Partners, a supplier of pre-packed sandwiches to food service operators in the UK.
American Capital hires Virginia Turezyn as managing director, technology group
11/04/2006. American Capital Strategies has appointed Virgina M Turezyn as managing director. Turezyn will lead the California office of the American Capital Technology Group in an effort to establish the firm's West Coast operations. She will focus on early stage technology investments.
AnaCap Financial Partners closes €300m private equity fund
10/04/2006. Pan-European private equity firm AnaCap Financial Partners has closed its first private equity fund, AnaCap Financial Partners, with total capital commitments of €300m.
HgCapital establishes services sector team and appoints five
10/04/2006. HgCapital, the European sector-focused private equity investor, has established a services sector team to be lead by Robin Lincoln. Besides the new sector, HgCapital focuses on the consumer, healthcare, industrials, leisure, media and technology areas. The firm has also announced that it has appointed five new team members.
Private equity and venture capital firms invest $1.4bn in India in Q1
10/04/2006. Private equity and venture capital firms invested about $1.4bn in 69 Indian companies during the quarter ended March 2006. The amount invested during the latest quarter was over 3.5 times that during the same period last year and 1.7 times that during Q4 2005, according to Venture Intelligence India.
Nikko acquires Cabot Financial Holdings Group in £275m secondary buy-out
10/04/2006. Nikko Principal Investments Limited (NPIL), the European principal finance arm of Nikko Cordial Corporation, has won the auction for Cabot Financial Holdings Group. NPIL has acquired the UK debt purchasing business from Barclays Private Equity in a £275m transaction.
Consumer technology executive Jonathan Fram joins Maveron as general partner
10/04/2006. Seattle, Washington-based venture capital firm Maveron has hired Jonathan Fram as a general partner.
IDFC Private Equity Fund II raises $430m
07/04/2006. IDFC Private Equity, the private equity arm of IDFC, has raised INR1,900 crore (about $430m) for its second fund, IDFC Private Equity Fund II. The second fund has mainly overseas investors - unlike the predecessor fund, which only had domestic investors.
Greenhill SAVP holds first closing on $80m
07/04/2006. Greenhill & Co. has completed the first closing of its first venture capital fund, Greenhill SAVP, on $80m.
US media buy-out specialist VSS to acquire Granada Learning from ITV
07/04/2006. US media buy-out specialist Veronis Suhler Stevenson has agreed to acquire educational publisher Granada Learning from ITV as part of its ongoing focus on the UK education sector. The transaction is reportedly worth up to £53m.
3i to acquire Spanish Gamesa Energía y Servicios and Siemsa Este
07/04/2006. 3i has agreed to purchase 100 per cent of the share capital of Gamesa Energía y Servicios and Siemsa Este, two divisions of Spanish Corporación Tecnológica Gamesa.
UK Dunedin sells Caledonian for £62m
07/04/2006. UK mid-market private equity firm Dunedin Capital Partners has completed the sale of Calsafe Group, the UK specialist in modular building construction, to Champion Enterprises USA for £62m. Calsafe operates in the UK through its subsidiary company Caledonian Building Systems.
Balliol graduates into the world of private equity
07/04/2006. Oxford University's Balliol College has joined Christ Church College and St Catherine's College as majority shareholders in Oxford Investment Management, a new investment business with £100m to invest in areas including private equity funds.
Prices paid for venture-backed US M&A deals reach $7.5bn in Q1 2006
06/04/2006. The US venture-backed liquidity market began the year on a positive note with 92 companies being acquired for an aggregate amount paid of $7.52bn, according to the Quarterly Liquidity Report from Dow Jones VentureOne.
Investindustrial leads acquisition of Italian jewellery retail chain Stroili Oro
06/04/2006. Southern European mid-market buy-out firm Investindustrial has acquired 65 per cent of Udine, Italy-headquartered jewellery retail chain Stroili Oro. Following the acquisition, a minority of this shareholding will be syndicated to partners of Investindustrial.
DLJMB appoints team of industry partners to originate media investments in Europe
06/04/2006. DLJ Merchant Banking Partners (DLJMB), the middle-market private equity investment arm of Credit Suisse, has appointed Tim Schoonmaker, Nigel Walmsley, and Rupert Shaw.
CMEA Ventures hires life sciences specialist Dr Rodney Altman as senior partner
06/04/2006. San Francisco-based IT and life sciences venture capital firm CMEA Ventures has hired Dr Rodney D Altman as senior partner. In his new role, Dr Altman will focus on medical devices, biotechnology therapeutics and diagnostics.
Microsoft's Rajiv Kaul to join Actis as partner
06/04/2006. Emerging markets private equity investor Actis has appointed the former managing director of Microsoft in India, Rajiv Kaul, as partner, based in London.
Paragon exit for Duke Street Capital
05/04/2006. Duke Street Capital has sold Paragon Healthcare Group to HgCapital and members of the management team for a total consideration of £322m. The transaction represents a return of 3.5 times DSC's original investment and an IRR of around 50 per cent. As part of the sale, the existing management team of Paragon has realised part of its investment and re-invested alongside HgCapital.
CVC hires David Wood
05/04/2006. Pan-European private equity firm CVC Capital Partners has appointed David Wood. Wood will work alongside Marc Boughton to further develop CVC's financing initiatives.
ArcLight Energy Partners Fund III closes on $2.1bn
04/04/2006. Boston, Massachusetts-headquartered ArcLight Capital Partners has closed its latest fund, ArcLight Energy Partners Fund III, on $2.1bn. The target was $2bn. Commitments came from 90 investors.
Institutional Venture Partners appoints Sandy Miller as general partner
04/04/2006. US venture capital firm Institutional Venture Partners has appointed J Sanford Miller as a new general partner. Miller will be responsible for expansion stage investments.
Bridgepoint names Mikael Lövgren chairman of Nordic business
04/04/2006. Pan-European private equity firm Bridgepoint has hired Mikael Lövgren as chairman of its Nordic business. Lövgren will act as an advisory partner of Bridgepoint.
Private equity consortium to acquire Seves
03/04/2006. A private equity consortium comprising Ergon Capital Partners, Vestar Capital Partners and Athena Private Equity has agreed to acquire Florence-based Seves Group, a specialist in glass insulators for power transmission and glass bricks for interior design in a €375m transaction.
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