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J.C. Flowers & Co.-led investor group to acquire stake in HSH Nordbank for 1.25bn
31/08/2006. A group of institutional investors led by US private equity firm J.C. Flowers & Co. has agreed to acquire WestLB's stake in Hamburg and Kiel-headquartered HSH Nordbank for 1.25bn. This is the first time a private equity consortium makes a sizeable investment in a German landesbank (a public bank). 
Swiss Capvis backs management buy-out of ORIOR Food Group
31/08/2006. Swiss private equity firm Capvis has acquired a majority stake in ORIOR Food Group from former investor Orior Holding, a subsidiary of Pargesa Holding. ORIOR Food Group management has invested in the company alongside Capvis.
Permira to acquire Iglo Birds Eye Frozen Foods for 1.73bn
30/08/2006. Europe-based private equity firm Permira has agreed to acquire Iglo Birds Eye Frozen Foods from Unilever for 1.73bn.
Swiss firms Zurmont and Madison to merge, launch new fund
30/08/2006. Zurich-based private equity firms Zurmont Management and Madison Management are to be merged on 1 September 2006. The new firm, Zurmont Madison Management, intends to raise a CHF200m private equity fund (approximately 127m), which will focus on succession solutions and management buy-outs in Switzerland, Germany and Austria.
CLSA Capital Partners launches clean energy fund
30/08/2006. CLSA Capital Partners, the private equity arm of Asian brokerage and investment bank CLSA, has launched its fifth fund, Clean Resources Asia.
Rosemary Ripley joins NGEN Partners as entrepreneur-in-residence
30/08/2006. Rosemary L Ripley has joined NGEN Partners as an entrepreneur-in-residence. Prior to joining NGEN, Ripley was a founder of Circle Financial Group. From 1990 to 2005, she was at Altria, formerly the Philip Morris Companies.
Icos Capital launches Dutch Technology Fund I
30/08/2006. Icos Capital, together with CSM, Imtech and Farm Frites, has launched Dutch Technology Fund I, a venture fund focused on technology start-ups in the areas of food, energy and waste.
TA Associates appoints M Roy Burns as vice president
30/08/2006. US buy-out firm TA Associates has appointed M Roy Burns as a vice president, based in the firm's Boston office. Burns will focus on management buy-outs and growth capital investments in the financial services, business services and consumer industries.
Lehman Brothers to co-invest alongside Carlyle in Firth Rixson
30/08/2006. Lehman Brothers Co-Investment Partners has agreed to co-invest alongside The Carlyle Group in Carlyle's existing portfolio company Firth Rixson through the acquisition of a 36 per cent interest in the company. Carlyle will remain the lead investor in the company.
GS Capital Partners, AIG, Carlyle, Riverstone to buy Kinder Morgan in $22bn deal
29/08/2006. Goldman Sachs Capital Partners, American International Group, The Carlyle Group and Riverstone Holdings have agreed to acquire Kinder Morgan (KMI) in a transaction valued at approximately $22bn. This includes the assumption of approximately $7bn of debt.
Swiss CGS Management holds first closing on second buy-out fund
29/08/2006. Pfδffikon, Switzerland-based buy-out specialist CGS Management has held a first closing on its second fund, CGS Private Equity Partnership II, on CHF65m (approximately 41m). The target of the fund is CHF150m.
German NORD Holding holds first closing on second fund of funds
25/08/2006. NORD Holding, a German firm focused on investing in private equity funds and in companies directly, has held a first closing on its new private equity fund of funds, NORD KB II Beteiligungs-GmbH, on 188m. The firm expects to close the fund on 250m in Q4 2006.
Seven professionals join Thomas H Lee at his new private equity firm
25/08/2006. Seven investment professionals have joined Thomas H Lee's newly-formed, New York-based private equity firm Lee Equity Partners.
Baugur-led consortium to acquire UK retailer House of Fraser in £351m deal
25/08/2006. A Baugur-led investor consortium and UK retailer House of Fraser have agreed on the terms of a recommended acquisition of the issued and to be issued share capital of House of Fraser by Highland, a newly incorporated company that has been formed for the purposes of completing the acquisition, for 148 pence per share in cash.
CEE-focused fund of funds ALPHA CEE II holds first closing
24/08/2006. ALPHA CEE II, a fund of funds dedicated to Central and Eastern Europe and managed by Swiss-based private equity specialist ALPHA Associates, has held a first closing on 109m. The target of the fund is 300m. The firm expects to announce a second closing, which could also be the final closing, later this year.
US Tanglewood to sell Canadian GLM Tanks & Equipment to CAI-led investor group
23/08/2006. A CAI Capital Partners-led investor group, together with GLM senior management, has agreed to purchase 100 per cent of the equity of Edmonton, Alberta-headquartered manufacturing and engineering design company GLM Tanks & Equipment from Houston, Texas-based private equity firm Tanglewood Investments for an undisclosed amount.
US firm De Novo Ventures closes $300m life science fund
23/08/2006. Menlo Park, California-based venture capital firm De Novo Ventures has closed its third venture fund, De Novo Ventures III, on $300m. The new fund will invest in medical device and in biotech companies with initial human clinical experience.
Sun Capital Partners acquires Real Mex Restaurants
23/08/2006. An affiliate of Sun Capital Partners has acquired Real Mex Restaurants, an operator of Mexican casual dining restaurants in the US. Terms of the acquisition were not disclosed.
US-based venture capital fund focused on Rwanda makes inaugural investment
23/08/2006. Denver, Colorado-headquartered Thousand Hills Venture Fund, a venture capital fund investing in small and medium-sized enterprises in Rwanda, has announced its inaugural investment. The fund has invested in Rocket 2020, a provider of products, services and technology connectivity to small businesses throughout Rwanda.
Dutch TNT agrees to sell its logistics division to Apollo Management in 1.48bn transaction
23/08/2006. Dutch company TNT has agreed to sell its logistics division to affiliates of Apollo Management. The total transaction value is 1.48bn on a cash and debt free basis, of which 15m will be received in the form of a five per cent equity stake in the new company.
Permira sells Travelodge to Dubai International Capital in £675m transaction
22/08/2006. Europe-based private equity firm Permira has sold UK budget hotel chain Travelodge to Dubai-based investment company Dubai International Capital for a consideration of £675m. The acquisition is unconditional and is expected to complete by late September.
US firm Wind Point Partners to acquire Ferro's specialty plastics business
22/08/2006. Ferro Corporation has agreed to sell its specialty plastics business to US-based mid-market buy-out firm Wind Point Partners for $133m.
Bain, Apax join private equity consortium in Philips semiconductor deal
21/08/2006. Bain Capital and Apax Partners have signed definitive commitments to join the private equity consortium (comprised of Kohlberg Kravis Roberts & Co., Silver Lake Partners and AlpInvest Partners) that has agreed to acquire an 80.1 per cent stake in the semiconductor division of Royal Philips Electronics. Philips will retain the remaining 19.9 per cent stake in business.
US firm Lone Star Funds to acquire Lone Star Steakhouse & Saloon
21/08/2006. Dallas-based private equity firm Lone Star Funds has agreed to acquire Lone Star Steakhouse & Saloon for $27.10 per share in cash, a 15 per cent premium to its closing price on 17 August 2006. The total value of the transaction is over $600m.
DBG, 3TS acquire controlling stake in Polish clothing retailer Komex
18/08/2006. Central and Eastern European-focused private equity firms DBG Eastern Europe and 3TS Central European Fund II have acquired a controlling stake in Komex, a retail chain offering clothing for children. Financial details of the transaction were not disclosed.
KKR, Carlyle, CVC Asia Pacific reportedly interested in acquiring Australian retailer Coles Myer
18/08/2006. A private equity consortium comprised of KKR, Carlyle and CVC Asia Pacific and possibly also including Newbridge Capital has approached Australian retailer Coles Myer, according to various reports. The transaction, if it goes ahead, would be Australia's biggest buy-out to date. The value of the transaction is expected to be in the Aus$15-17bn range.
Ratos to acquire Perlos Healthcare
17/08/2006. Nordic private equity firm Ratos has agreed to acquire 78 per cent of Perlos Healthcare from Perlos for approximately 67m.
CDC commits $104m to Indian private equity funds
16/08/2006. UK government-backed emerging markets private equity investor CDC has committed $104m to three private equity funds in India. These commitments bring the total amount invested by CDC in the region to over $380m.
Blackstone to acquire Gold Toe from Vestar
16/08/2006. US buy-out giant The Blackstone Group has agreed to acquire Burlington, North Carolina-headquartered Gold Toe and simultaneously facilitate a merger between Gold Toe and Newton, North Carolina-headquartered Moretz. The merger will create one of the largest global sock companies. As a result of its investment, Blackstone will be the majority owner of the company. John Moretz, CEO, will be the second largest shareholder and Vestar Capital Partners, the current majority owner of Gold Toe, will retain a minority stake.
Kendall Court's maiden mezzanine fund for Asia closes above target on $90m
15/08/2006. Singapore-based Kendall Court Capital Partners has closed its debut mezzanine fund, Kendall Court Mezzanine (Asia) Fund I, on $90m, above its $75m target. The fund held as first closing on $35m in December 2004.
Industri Kapital sells stake in Swedish company Oriflame Cosmetics
15/08/2006. European private equity firm Industri Kapital has sold its remaining holding of 2,523,121 Swedish Depositary Receipts in Oriflame Cosmetics to Swedish and international institutional investors. The SDRs were sold at the price of SEK242 (approximately 26.25) per SDR. The sale corresponds to 4,5 per cent of the total number of shares and votes in Oriflame.
Q2 venture capital investment into Canadian companies up on quarter, down on year
15/08/2006. Investment activity in the Canadian venture capital market increased to Can$496m in Q2 2006, up 34 per cent from the Can$371m recorded in the first quarter of this year, according to Canada's Venture Capital and Private Equity Association and Thomson Financial. However, the Q2 2006 total represented a 25 per cent decline from the Can$663m invested in Q2 2005.
Carlyle, Kennet acquire FRS Global from S1 Corporation
14/08/2006. US private equity giant The Carlyle Group and technology investor Kennet Partners have acquired Belgium-headquartered FRS Global from S1 Corporation. Financial details of the transaction were not disclosed.
US Jacobs Capital Group closes $125m fund of funds
14/08/2006. California-based Jacobs Capital Group has closed a fund of funds to invest mainly in venture capital funds. In addition, the firm expects to make some real estate investments from its new fund.
Prettl picked up by Baird
11/08/2006. Baird Capital Partners Europe acquires majority stake in the white goods control panel manufacturer, Prettl Appliance Systems Group.
Vision Capital makes its first corporate portfolio acquisition
11/08/2006. Vision Capital has exchanged contracts for the acquisition of a portfolio of four businesses from AEA Technology plc for a total consideration of £76.4m. Formerly part of the UK Atomic Energy Authority (UKAEA), AEA was privatised by a flotation on the London Stock Exchange in 1996.
Carl Marks Merchant Partners to concentrate on underperforming companies
10/08/2006. Carl Marks & Co. has announced the formation of Carl Marks Merchant Partners, which will focus on investing in underperforming privately-held companies with an enterprise value between $10m and $50m.
Mid Europa sells Karneval and Forcable to Unite Holdco III for 322.5m
10/08/2006. Private equity firm Mid Europa Partners, on behalf of the AIG Emerging Europe Infrastructure Fund, has sold Karneval Media s.r.o. and Forcable s.r.o. to Unite Holdco III B.V., a company jointly owned by Deutsche Bank AG London and JPMorgan, for 322.5m.
Bridgepoint hires Sir James Crosby
10/08/2006. European private equity firm Bridgepoint has appointed Sir James Crosby to its European Advisory Committee. Crosby recently stepped down from the board of HBOS plc where he had been Chief Executive since 2001.
SHS launches SHS Fond III with a target size of 70m
10/08/2006.
Actis raises CAD$45.5m as part of the IPO of Platmin
10/08/2006. Emerging markets private equity firm Actis has successfully raised CAD$45.5m as part of the Initial Public Offering application of their South Africa-based mineral exploration company, Platmin. The IPO was three times oversubscribed.
Private equity consortium to acquire ARAMARK for $8.3bn
09/08/2006. A private equity consortium comprised of GS Capital Partners, CCMP Capital Advisors, JPMorgan Partners, Thomas H. Lee Partners and Warburg Pincus has agreed to back Joseph Neubauer, ARAMARK chairman and chief executive officer, in the acquisition of ARAMARK in a transaction valued at approximately $8.3bn, including the assumption or repayment of approximately $2bn of debt.
TH Lee Putnam Ventures exits NEW
09/08/2006. Berkshire Partners, Freeman Spogli & Co. and management of N.E.W. Customer Service Companies have made a major investment in NEW, a third-party provider of extended service contracts in the US. The investment provides an opportunity for TH Lee Putnam Ventures to realise a return on their 2004 investment in NEW.
Lion Capital to acquire Kettle Foods
09/08/2006. London-headquartered private equity investment firm Lion Capital has agreed to acquire Kettle Foods, a natural potato chip company in the US and UK, for an undisclosed amount.
John Leenane joins Enterprise Partners as entrepreneur-in-residence
09/08/2006. San Diego-headquartered venture capital firm Enterprise Partners Venture Capital has appointed John Leenane as an entrepreneur-in-residence. Leenane will focus on digital content and wireless deals.
First Reserve Corporation closes Fund XI on $7.8bn
09/08/2006. US-based private equity firm First Reserve Corporation has closed its latest global private equity fund, First Reserve Fund XI, on $7.8bn. Fund XI focuses exclusively on the global energy industry.
3i holds first closing of Eurofund V on 4.3bn
09/08/2006. Private equity and venture capital firm 3i has completed a first closing of its latest mid-market buy-out fund, Eurofund V, on 4.3bn. The original target size of the fund was 3.5bn. 3i expects to hold a final closing in the autumn. Eurofund V is capped at 5bn.
UK mid-market specialist Close Brothers Private Equity backs $176m Rosemont MBO
08/08/2006. UK mid-market private equity specialist Close Brothers Private Equity has backed the management buy-out of Leeds, UK-based Rosemont Pharmaceuticals, a developer and manufacturer of oral liquid medicines, for $176m.
Large buy-out funds continue to dominate European fundraising in H1 2006
08/08/2006. European private equity firms raised $43bn across 63 funds in the first half of 2006, compared to $38.4bn raised by 60 funds in the first half of 2005, according to Dow Jones Private Equity Analyst.
Carlyle Group to sell Avio to Cinven
07/08/2006. Cinven has agreed to acquire Italian aerospace company Avio from The Carlyle Group and Italian industrial group Finmeccanica - Societΰ per Azioni for an enterprise value of 2.57bn. As part of the transaction, Finmeccanica has agreed to reinvest in the company alongside Cinven.
Elevation Partners invests in Forbes
07/08/2006. Elevation Partners has invested in Forbes, a family-held publishing and media company. The private equity firm has become a minority shareholder in the newly formed company Forbes Media. The terms of the investment were not disclosed.
Doughty Hanson and Private Equity Partners to buy Caudwell Group for £1.5bn
07/08/2006. Private equity firms Doughty Hanson & Co and Providence Equity Partners have agreed to acquire the Caudwell Group, a European-based cell phone retailer, for a total consideration of £1.46bn.
Laura Ring joins Castile Ventures as vice president of strategic relations
07/08/2006. Massachusetts-based venture capital firm Castile Ventures has named Laura Ring to the new position of vice president of strategic relations.
Stirling Square backs 230m MBI of Metroweb from Italy's AEM
04/08/2006. Pan-European private equity firm Stirling Square Capital Partners is backing a team of experienced telecom managers in the MBI of Metroweb, which is valued in excess of 230m.
US firm Expansion Capital increases size of Clean Technology Fund II
04/08/2006. San Francisco and New York-based firm Expansion Capital Partners has announced a subsequent closing for the firm's Clean Technology Fund II, totalling more than $55m.
3i sells stake in SPS to M-I Swaco
04/08/2006. 3i is to sell its 51 per cent stake in Aberdeen-based Specialised Petroleum Services Group, a provider of wellbore clean-up products and services for the oil and gas industry, to M-I Swaco. The SPS founders and other shareholders are also exiting at this time. The purchase price for the whole company is approximately $165m.
Trend towards fewer but larger venture capital funds continues in US in Q2 2006
04/08/2006. US venture capital firms raised $8.23bn in the second quarter of 2006, slightly down from the $8.27bn raised in the second quarter of 2005, according to Dow Jones VentureOne. The research shows a trend in recent quarters towards fewer but larger individual funds being raised.
Behrman Capital hires Lawrence Deering to focus on healthcare portfolio
04/08/2006. New York and San Francisco-based Behrman Capital has appointed Lawrence Deering as an operating partner of the firm. In his new role Deering will support the Behrman Capital team in overseeing its existing portfolio of healthcare companies and in identifying potential new investment opportunities in the healthcare services sector.
KKR, Silver Lake, AlpInvest to acquire semiconductors business from Philips
04/08/2006. Kohlberg Kravis Roberts & Co., Silver Lake Partners and AlpInvest Partners have agreed to acquire an 80.1 per cent stake in Royal Philips Electronics' semiconductors business. Philips will retain a 19.9 per cent stake in the business.
Hellman & Friedman to acquire stake in turnaround and consulting firm AlixPartners
04/08/2006. San Francisco-based private equity firm Hellman & Friedman will make a significant investment in US company AlixPartners. AlixPartners' 78 managing directors, along with the remainder of its more than 500 employees, will also gain a considerable equity stake in the enterprise. Together, Hellman & Friedman, AlixPartners management and employees will hold a majority interest in the private firm.
3i acquires ABX LOGISTICS Worldwide
03/08/2006. Private equity and venture capital firm 3i has completed the acquisition of Brussels-based ABX LOGISTICS Worldwide, an international freight forwarder and logistics services provider, from the Belgian Railways. The acquisition excludes the local road distribution business in Belgium which represents less than three per cent of total group turnover.
BSMB closes latest fund on $2.7bn
03/08/2006. Mid-market private equity firm Bear Stearns Merchant Banking, the private equity affiliate of The Bear Stearns Companies, has closed its latest fund, Merchant Banking Partners III, on approximately $2.7bn. Fundraising began in September 2005. BSMB held an initial closing with commitments in excess of $2bn in February 2006. The firm capped third-party commitments at $2.5bn. Incremental commitments from BSMB bring the fund's aggregate commitments to approximately $2.7bn.
Carlyle to sell Stellex Aerostructures to GKN
03/08/2006. The Carlyle Group has agreed to sell Stellex Aerostructures to GKN. Financial details of the transaction were not disclosed. Stellex manufactures sub-systems and components for the aerospace and defence industries. Stellex employs approximately 650 people.
Cinven, Warburg Pincus to acquire Essent Kabelcom for 2.6bn
03/08/2006. Cinven and Warburg Pincus have agreed to acquire Groningen, The Netherlands-headquartered Essent Kabelcom from Essent for 2.6bn. Kabelcom operates in the field of data-communication and telecommunication, radio, TV, internet and telephone services, for the consumer market and for business-to-business.
GS Capital Partners sells IPC Information Systems to Silver Lake Partners for $800m
02/08/2006. New York-headquartered GS Capital Partners, the private equity arm of the Goldman Sachs Group, has agreed to sell IPC Information Systems, a New York-based provider of mission-critical communications solutions and services, to Silver Lake Partners for approximately $800m.
US firm BA Venture Partners adds Kinzelberg, Fu and Lynch to investment team
02/08/2006. California-based venture capital partnership BA Venture Partners has added Chad Kinzelberg, Ben Fu and Nancy Lynch to its investment team. Kinzelberg joins BAVP as a director to focus on software investments. Fu joins the software team as an associate, and Lynch is the new associate on the healthcare team.
Warburg Pincus invests in Wall Street Systems and Trema
02/08/2006. Warburg Pincus has backed the team of financial services executives which has acquired transaction processing software specialist Wall Street Systems and treasury solutions provider Trema to combine them in a new business specialising in treasury and capital market transaction processing.
BTS Investment Advisors closes $80m India fund
02/08/2006. Switzerland-India-based private equity advisor BTS Investment Advisors has closed BTS India Private Equity Fund, a dedicated India fund that will invest in medium-size enterprises seeking expansion capital, on $80m.
DCM V closes on $500m
02/08/2006. Venture capital firm DCM has closed its latest fund, DCM V, on $500m. The new fund will continue DCM's emphasis on investing in early stage IT companies in the US, China and Japan.
3i sells UK company CH4 Energy to Venture Production for 224m
02/08/2006. 3i has sold CH4 Energy, a UK-headquartered energy and power company, to Venture Production for 224m.
Bridgepoint exits ALL3MEDIA
01/08/2006. European private equity firm Bridgepoint has sold ALL3MEDIA, an independent TV production company in the UK, to fellow European private equity firm Permira and the ALL3MEDIA management team. The transaction values the group at approximately £320m on an enterprise basis.
Henderson Private Capital appoints Lee and Prasetya as senior principals
01/08/2006. Henderson Private Capital, the private equity operation of Henderson Global Investors, has appointed Carol Lee and Sigit Prasetya as senior principals to the Asia team. Lee and Prasetya will be joining the Hong Kong and Singapore offices, respectively. Both will concentrate on sourcing, executing and managing investments, with Lee focusing on South Korea, and Prasetya focusing on South East Asia.
Investor consortium to buy minority stake in Pirelli Tyre for 750m
01/08/2006. A consortium comprised of Italian and international financial institutions (Banca Intesa, Banca Leonardo Group, Capitalia, One Equity Partners - JP Morgan Group, Lehman Brothers and Mediobanca) has agreed to acquire a 38.9 per cent stake in Pirelli Tyre from The Pirelli Group for a consideration of 740m.
US short-term private equity performance improved in Q1 2006
01/08/2006. Private equity returns improved in the short term and showed continued stability in the long term for the period ending 31 March 2006, according to Thomson Financial and the National Venture Capital Association.
Matrix Partners closes India fund on $150m
01/08/2006. US-based venture capital firm Matrix Partners has announced the closing of its Matrix India Fund, a new fund to be invested across the consumer services sector in India, on $150m.
European Capital invests in Farrow & Ball and Avery Weigh-Tronix Holdings
01/08/2006. European Capital has invested 126m in UK decorative paints and wallpaper specialist Farrow & Ball. European Capital's investment takes the form of senior term loans, senior subordinated debt, loan notes and common equity.
Lindsay Goldberg & Bessemer closes LGB II on $3.1bn
01/08/2006. New York-based private equity investment partnership Lindsay Goldberg & Bessemer has closed its latest fund, Lindsay Goldberg & Bessemer II, on $3.1bn.
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