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Mark Hoover joins US firm Woodside Fund as venture partner
29/09/2006. Redwood Shores, California-based early stage venture capital firm Woodside Fund has appointed Mark Hoover as venture partner. 
Enterprise Investors closes Polish Enterprise Fund VI
29/09/2006. Central and Eastern Europe-focused private equity firm Enterprise Investors has closed its new fund, Polish Enterprise Fund VI, on €658m.
Access Capital Partners holds second closing on European tech fund of funds
29/09/2006. European mid-market buy-out fund of funds specialist Access Capital Partners has held a second closing of its third-generation technology fund investment programme, ACF III Technology, on €75m. The target of the fund is €100m.
3i to acquire minority stake in Spanish company Sistemas Técnicos de Encofrados
28/09/2006. 3i has agreed to acquire a 30 per cent stake in Spanish construction company Sistemas Técnicos de Encofrados from the founders and majority shareholders of the company for approximately €100m.
UK firm August Equity hires Keith Davidson
28/09/2006. UK lower mid-market private equity firm August Equity has appointed Keith Davidson as investment manager. Davidson will be responsible for originating deals across the firm's four target sectors: media, healthcare, technology and specialist manufacturing.
ECM Equity Capital Management closes third fund on €250m
28/09/2006. German mid-market private equity firm ECM Equity Capital Management has closed its latest fund, German Equity Partners (GEP) III, on €250m, the hard cap of the fund. The fund launched in January 2006 and had an original target of €200m.
Q2 European venture capital fundraising up on quarter, down on year
27/09/2006. European venture capital firms closed seven funds, raising a total of €562m in the second quarter of 2006, according to Dow Jones VentureOne. The amount is up from the €457m raised in the first quarter of this year, but down from the €1.01bn raised in the second quarter of 2005.
Elizabeth Varley Camp joins HealthpointCapital as managing director
27/09/2006. HealthpointCapital has appointed Elizabeth Varley Camp as a managing director. Her new role will include fundraising, deal sourcing and overseeing portfolio companies.
Actis closes $130m fund for South East Asia
27/09/2006. Emerging markets private equity investor Actis has closed its Actis ASEAN Fund on $130m. Investors in the fund include private sector institutional investors from North America, Europe and Asia.
General Atlantic to acquire interest in Emdeon Business Services
27/09/2006. General Atlantic has agreed to acquire a 52 per cent interest in the Emdeon Business Services segment from Emdeon Corporation in a transaction which values Emdeon Business Services at $1.5bn.
DSC to acquire IT services provider 2e2 from Gresham for £130m
27/09/2006. UK and France-based mid-market private equity firm Duke Street Capital has agreed to acquire IT services business 2e2 in a £130m secondary MBO from UK mid-market private equity firm Gresham Private Equity.
PIP, a quoted fund, announces full year figures
26/09/2006. Pantheon International Participations PLC, a quoted investment trust managed by Pantheon Ventures, has announced its full year figures to June 30 2006 with investment of £131.2m and commitments of £239.9m for the period, while distributions rose to £156.8m, an increase of 74 per cent on 2004-2005.
New private equity firm for high net-worths
26/09/2006. Winona Capital Management, a new private equity firm investing on behalf of high net-worth families and individual investors, has been formed with $110m of committed capital. Laird Norton Company is the primary backer.
Actis acquires controlling stake in Ceylon Oxygen
26/09/2006. Emerging markets private equity investor Actis has acquired a 71 per cent stake in Ceylon Oxygen Limited from Yara International. Ceylon Oxygen is Sri Lanka’s main manufacturer of industrial and medical gases.
Delta exit for Riverside
26/09/2006. Mid-market private equity house The Riverside Company has exited Delta Petroleum Company in a trade sale to Greif. The firm said their sale of its interest in Delta provided RCAF '98 and RCAF 2000 investors a combined gross IRR of 28.4 per cent and a combined gross cash-on-cash return of 5.0 times.
GPs now looking for defensible positions and reliable cash flows in the auto sector
26/09/2006. Private equity firms investing in the automotive market are shifting their focus from component suppliers to the aftermarket, as they seek more defensible positions which generate reliable cash flows, says a new research report.
Mike Sherman joins MB Venture Partners
26/09/2006. MB Venture Partners has appointed Michael Sherman as executive-in-residence at the VC firm. Sherman will focus on new medical device investment opportunities in the US.
NGEN closes second venture capital fund on $180m
26/09/2006. Santa Barbara, California-headquartered venture firm NGEN Partners has closed its second venture fund on $180m, exceeding the fund's original target of $150m. NGEN II launched at the end of 2004 and held a first closing in May 2006 on an undisclosed amount.
Lehman Brothers closes $1.6bn private equity co-investment fund
25/09/2006. Lehman Brothers has closed its new private equity co-investment fund, Lehman Brothers Co-Investment Partners, on $1.6bn. The new global fund seeks to invest between $5m and $150m per transaction.
CVC to acquire Australian healthcare company DCA for AUS$2.7bn
25/09/2006. CVC Capital Partners and CVC Asia Pacific have agreed to acquire all of the shares in DCA Group, an Australian healthcare company, specialising in diagnostic imaging and residential aged care.
UK firm Gresham appoints Simon Hemley as investment executive
25/09/2006. UK-based mid-market private equity firm Gresham has appointed Simon Hemley as an investment executive, based in London.
First Reserve Corporation and Nabors commit $1bn to NFR Energy
22/09/2006. US-based private equity firm First Reserve Corporation and Nabors Industries have teamed up to form NFR Energy, a new joint venture to invest in oil and gas exploitation opportunities worldwide.
Blackstone hires David McVeigh
22/09/2006. David McVeigh has joined The Blackstone Group's private equity group as executive director. McVeigh was formerly a partner with McKinsey & Company, and a leader of the North American Chemicals and Northeast Energy and Materials practices.
Candover opens office in Milan, hires Laura Marangione
21/09/2006. European buy-out firm Candover has opened its Milan office. The new office will be headed up by Aldo Maccari, who has relocated from London to Milan. Maccari joined Candover in September 2005.
Red Planet Capital to establish strategic venture capital fund for NASA
21/09/2006. San Mateo, California-based non-profit organisation Red Planet Capital will establish a strategic venture capital fund for NASA (the National Aeronautics and Space Administration). The purpose of the new fund is to provide NASA earlier and broader exposure to emerging technologies.
Veronis Suhler Stevenson to sell stake in Solucient to The Thomson Corporation
20/09/2006. Media buy-out firm Veronis Suhler Stevenson has agreed to sell its stake in Solucient, an information products company serving the healthcare industry, to The Thomson Corporation, a provider of information solutions to business and professional customers worldwide. Financial details of the transaction were not disclosed.
US venture-backed valuations increase further in Q2 2006
20/09/2006. The median pre-money valuation of US venture-backed companies hit the highest since the year 2000, reaching $23m in the second quarter of 2006, according to Dow Jones VentureOne. The figure was up from $17.5m in the previous quarter and $15.6m in Q2 2005.
Henderson Equity Partners holds first closing on Henderson PFI Secondary Fund II
20/09/2006. Henderson Equity Partners, the private equity operation of Henderson Global Investors, has held a first closing on its new fund, Henderson PFI Secondary Fund II. Investors have committed €830m to the new fund to date. A final closing is expected before the end of this year.
Mezzanove Capital raises €104m for Southern European mezz programme
20/09/2006. Southern European mid-market mezzanine group Mezzanove Capital has held a second closing on its Southern European mezzanine financing programme. Investors have already committed a total of €104m to the fund.
Aberdeen Asset Managers appoints Colin Stirling, Denise Emmanuel
20/09/2006. Aberdeen Asset Managers Private Equity, a division of Aberdeen Asset Managers, has appointed Colin Stirling as director of investment and Denise Emmanuel as investment manager. They join Aberdeen's national mid-market private equity team, increasing the size of the team to seven executives.
Nordwind Capital, Value Management Services to acquire COSMOS
19/09/2006. Munich-based private equity firm Nordwind Capital and Vienna-based private equity firm Value Management Services have agreed to acquire a 100 per cent stake in electronics retailing chain COSMOS Elektrohandels GmbH & Co. KG in a 50/50 partnership transaction.
US firm H.I.G. Capital closes fourth buy-out fund on $750m
19/09/2006. Miami-based private equity firm H.I.G. Capital has raised its fourth buy-out fund, H.I.G. Capital Partners IV. The fund closed on $750m.
Guggenheim Partners launches venture capital group
19/09/2006. Guggenheim Partners, a financial services firm which traces its heritage to the Guggenheim family, has formed a new venture capital business. Guggenheim Venture Partners will focus on investment opportunities within the networking/communications and component arenas in the Mid Atlantic, Southwest and Pacific Northwest regions.
Climate Change Capital raises $830m for new private sector carbon fund
18/09/2006. Climate Change Capital, a UK investment banking group focused on clean energy, has raised $830m for its new private sector carbon fund. CCC expects to close the fund on more than $1bn.
Apollo Management to buy GE Advanced Materials Business
18/09/2006. US buy-out firm Apollo Management has agreed to acquire Wilton, Connecticut-headquartered GE Advanced Materials (Silicones & Quartz) from GE in a deal valued at approximately $3.8bn in cash and securities.
Christophe Florin joins AXA Private Equity's executive board
15/09/2006. Christophe Florin, AXA managing director for Asia, has been appointed member of the AXA Private Equity Executive Board. He will now - in addition to his responsibilities as head of operations in Asia - contribute to defining the worldwide strategy for AXA Private Equity.
BS Private Equity acquires Italian manufacturer Motovario
15/09/2006. BS Private Equity, through its fund BS Investimenti IV, has purchased a majority stake in Motovario from Power Transmission Finance, a family-owned company which will re-invest in the transaction.
AIG Global Investment Group closes private equity co-investment fund on $664m
15/09/2006. AIG Global Investment Group has closed AIG Co-Investment Fund with total capital commitments of $664.4m, exceeding the fund's initial target of about $500m. The new fund seeks to invest alongside middle-market and large buy-out firms in North America and other developed markets.
US firm ICV Capital Partners closes second fund on $313m
14/09/2006. ICV Capital Partners, a US private equity firm focused on the smaller end of the middle market, has closed its second buy-out fund, ICV Partners II, on $313m. ICV initially targeted a fund size of $200m. The fund was more than 1.5 times oversubscribed, the firm said in a statement.
Christoph Westphal joins IDG Ventures as advisor
14/09/2006. IDG Ventures, an early stage venture capital firm focused on investing in information and healthcare technology companies, has appointed Christoph Westphal as a senior advisor and chairman of its new Life Sciences Advisory Board.
Mezzanine Management hires Bal Johal, Ian Wallis
13/09/2006. UK mezzanine and private equity firm Mezzanine Management has appointed Bal Johal and Ian Wallis as directors, based in London. Johal and Wallis were formerly investment directors at 3i.
ARGUS raises €213m for new fund, expects final closing later this year
13/09/2006. Central and Eastern European private equity firm ARGUS Capital Partners has received commitments totalling €213m for its second fund, ARGUS Capital Partners II. The original target of the fund was €200m. A first closing on €164m was held in December 2005.
PPM sells German company BST Safety Textiles to WL Ross & Co.
13/09/2006. Mid-market private equity firm PPM Capital has sold Germany-based airbag manufacturer BST Safety Textiles to WL Ross & Co. Financial details of the transaction were not disclosed but a spokesperson for PPM Capital said that the firm doubled its money on its investment.
TPG Newbridge strengthens management team in Japan
12/09/2006. TPG Newbridge, the Asian investment arm of Texas Pacific Group, has announced that Akio Ishida and Steven Schneider have joined the management team of their Japan operations.
KSL Capital Partners II closes on $1bn
12/09/2006. KSL Capital Partners has closed KSL Capital Partners II. The committed capital to the fund exceeds $1bn.
American Capital hires Greg Smitherman as managing director, Technology Group
12/09/2006. American Capital Strategies has appointed Greg Smitherman as managing director. Smitherman is based in the Technology Group's Palo Alto, California office.
NGP Energy Capital Management launches new fund
12/09/2006. NGP Energy Capital Management has launched a new fund, NGP Energy Infrastructure and Resources Partners. The new fund will focus on direct equity investments in infrastructure ventures in various sectors of the midstream energy industry and all facets of the mining and minerals sector, according to a statement. The target is to raise $1.5bn. The principals of the fund's management group have committed $75m.
FTI Consulting to buy Financial Dynamics from Advent International
12/09/2006. FTI Consulting has agreed to acquire London-based Financial Dynamics (FD International), a global strategic business and financial communications consulting firm, for approximately $260m. FD is currently owned by Advent International and Financial Dynamics management.
US firm Littlejohn & Co. agrees to sell Eliokem to AXA Private Equity for €130m
11/09/2006. Greenwich, Connecticut-based mid-market buy-out specialist Littlejohn & Co. has agreed to sell Villejust, France-headquartered Eliokem, a manufacturer of niche specialty chemicals, to AXA Private Equity for approximately €130m.
Cinven, Carlyle, Apax to sell MediMedia to Vestar
11/09/2006. A private equity consortium comprised of Cinven, The Carlyle Group and Apax Partners has agreed to sell MediMedia, an innovative specialty healthcare communications, publishing and patient education company, to Vestar Capital Partners and members of MediMedia management.
Venture capital investing in China doubles in Q2 2006 from Q2 2005
11/09/2006. Capital investment into deals totalled $480.1m in the second quarter of 2006, slightly more than double the amount invested in the same quarter of 2005 ($239.1m). Venture capital deal flow to companies headquartered in mainland China reached a high point with 54 deals occurring in Q2 2006, according to the inaugural China Quarterly Venture Capital Report released by Dow Jones VentureOne and Ernst & Young.
Saints acquires ten-company portfolio from 3i
11/09/2006. San Francisco-headquartered Saints Capital, in partnership with Lexington Partners and Fortress Investment Group, has acquired a portfolio of ten mid-market buy-out investments from 3i.
Bancroft-led investor group acquires Standard Profil
11/09/2006. An investor group led by Central European private equity fund manager Bancroft Private Equity has acquired Istanbul, Turkey-based Standard Profil Otomotiv Sanayi ve Ticaret for an enterprise value of approximately $90m.
Pomona closes $150m co-investment fund
08/09/2006. Pomona Capital has closed a $150m co-investment fund with the ING US Insurance Companies. The Pomona Co-Investment Fund will build a portfolio of individual company investments by co-investing alongside buy-out funds.
3i, STAR sell Swiss SR Technics to strategic consortium for €1bn
08/09/2006. 3i and STAR Capital Partners have sold Zurich-based SR Technics to a consortium of investors based in the United Arab Emirates in a €1bn transaction.
Nexit Ventures exits Mobile 365
08/09/2006. Nexit Ventures, a venture capital firm focused on mobile technologies and services, has agreed to sell its stake in Mobile 365, a specialist in mobile messaging and content delivery.
Waterland sells Dutch mobility aids provider Harting-Bank to NPM Capital
08/09/2006. Waterland Private Equity Investments has sold its stake in Dutch mobility aids provider Harting-Bank to Dutch private equity firm NPM Capital. Financial details of the transaction were not disclosed.
Riverside closes first micro-cap fund
08/09/2006. The Riverside Company has closed its Riverside Micro-Cap Fund I on $250m, well above its $150m target.
Permira acquires Principal Hotels
08/09/2006. Permira has acquired Principal Hotels, a four-star hotel chain comprising six hotels, from RBS.
Jörg Riesmeier to join Life Science Partners
08/09/2006. Jörg Riesmeier will be joining Life Sciences Partners' investment team as a general partner. Riesmeier will be responsible for the LSP BioVentures operation, working out of the LSP Boston office.
Baring Asia closes $490m private equity fund to invest in China, India, SE Asia, Japan
07/09/2006. Baring Private Equity Asia Group has closed a new Asian private equity fund, the Baring Asia Private Equity Fund III, on $490m. Baring Asia Private Equity Fund III is almost twice the size of its predecessor, Fund II, which closed on $257m in 2002.
Mayfield Fund hires Navin Chaddha as managing director
07/09/2006. Menlo Park, California-based venture capital firm Mayfield Fund has appointed Navin Chaddha as managing director. Chaddha is Mayfield's eighth investing managing director.
Ashmore raises $1.3bn Global Special Situations Fund 3
06/09/2006. Emerging markets asset manager Ashmore Investment Management has announced the first closing of its new fund, Global Special Situations Fund 3, on $1.3bn. The fund has a traditional private equity drawdown structure and a seven-year life span, with a re-investment period of three years, according to the firm.
G Larry Wilson joins Pequot Ventures as venture partner
06/09/2006. Westport, Connecticut-headquartered Pequot Capital Management has appointed G Larry Wilson as a venture partner of Pequot Ventures, the direct venture investment arm of Pequot Capital.
VSS, ZelnickMedia, Sony Pictures Television invest in ITN Networks
06/09/2006. Veronis Suhler Stevenson, ZelnickMedia Corporation and Sony Pictures Television have made a major investment in New York-based ITN Networks, a television advertising platform that provides services to broadcast advertisers. Financial details of the transaction were not disclosed.
Thomas, McNerney & Partners closes $375m life science fund
06/09/2006. US-based Thomas, McNerney & Partners has closed its second fund, Thomas, McNerney & Partners II, L.P. with $375m in LP commitments. Following on from the firm's inaugural $216m fund raised in 2002, the second fund will focus on investments in biotechnology, pharmaceutical and medical device companies across all stages of development.
Electra Partners Europe renames itself Cognetas, opens new office in Italy
05/09/2006. European mid-market private equity firm Electra Partners Europe has renamed itself Cognetas. The firm has also announced that it is about to open a new office in Milan, Italy.
Bridgepoint, Permira to sell Holmes Place's UK business to Virgin Active
05/09/2006. Health and fitness group Virgin Active has agreed to acquire a majority stake in Holmes Place's UK business, comprised of 47 clubs in the UK with 190,000 members. Bridgepoint and Permira have agreed to reinvest by taking a minority stake in Virgin Active. The transaction values the enlarged group at £650m.
Gilde Buy Out Partners closes third fund on €600m
05/09/2006. Gilde Buy Out Partners, a mid-market buy-out specialist with a focus on the Benelux and the French and German-speaking regions, has closed Gilde Buy Out Fund III on €600m. The fund was launched in September 2005. There were two interim closings: a first closing on €315m in September 2005 and a second closing on €490m in January 2006.
Baird Capital Partners Europe hires Dennis Hall, Simon Coote
05/09/2006. Mid-market private equity firm Baird Capital Partners Europe, formerly Granville Baird Capital Partners, has appointed Dennis Hall at director-level and Simon Coote as research analyst, bringing the firm's UK staff to 14.
Venture capital investment in Europe increases 13 per cent in Q2 2006 from Q2 2005
05/09/2006. In the second quarter of 2006, a total of €962.4m was invested in 213 deals, according to the quarterly European Venture Capital Report released by Ernst & Young and Dow Jones VentureOne. This is 13 per cent more capital invested than in the second quarter of 2005 (€855m). Deal flow was down significantly from a year ago (304 deals), and slightly from the first quarter of this year (215).
Graphite Capital backs £86m MBO of NES global recruitment group
05/09/2006. UK mid-market private equity firm Graphite Capital is backing the £86m management buy-out of the Manchester-headquartered NES Group from its founders, Geoff Lloyd and Bryan Sullivan, along with Bridgepoint. Graphite will have a majority holding in the company.
Norvestor to acquire ELIXIA Nordic from Elixia
04/09/2006. Norwegian private equity firm Norvestor has agreed to acquire ELIXIA Nordic from Elixia, which is indirectly owned by London-based Compass Partners European Equity Fund. ELIXIA Nordic operates the fitness and wellness chain ELIXIA in Norway and Finland, with a total of 24 clubs.
German institutional investors increasingly interested in private equity
04/09/2006. In Germany institutional investors are increasingly interested in investing in private equity, with capital allocations up 25 per cent in 2005 from 2003, according to a recent study conducted by Prof Dr Stefan Jugel from the Wiesbadener Private Equity Institut and supported by Greenpark Capital and Unigestion. In 2005, 50 per cent of the surveyed institutional investors reported being invested in private equity, compared to 40 per cent in 2003.
Apax, Apax France, Nordic Capital have their SEK15.6bn offer for Capio rejected
01/09/2006. Opica, a company jointly owned by Apax Europe VI (45 per cent), Nordic Capital Fund VI (44 per cent) and Apax France (11 per cent), has had its offer for Capio rejected. Opica is offering SEK153 per share in cash for all shares in the healthcare group. The offer values Capio's shares at SEK15.6bn (€1.7bn).
Investor group led by Hellman & Friedman, Texas Pacific Group to buy Intergraph
01/09/2006. An investor group led by San Francisco-based buy-out firms Hellman & Friedman and Texas Pacific Group has agreed to acquire Intergraph Corporation, a provider of spatial information management software, in a transaction valued at approximately $1.3bn. Investing alongside the lead investors will be San Diego-based private equity firm JMI Equity.
Kelly Capital exits National Linen & Uniform Service
01/09/2006. San Diego-based private equity and special situations firm Kelly Capital has sold significantly all of the assets associated with its affiliated portfolio company National Linen & Uniform Service to Alsco. Terms of the transaction were not disclosed.
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