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Early stage venture capital firm Point Judith Capital raises $73m fund
28/02/2007. Early stage venture capital firm Point Judith Capital has closed its second venture capital fund on $73m. The lead investor in the fund is Tudor Investment Corporation. 
LODH Private Equity closes Euro Choice III on €493m
28/02/2007. Swiss-based LODH Private Equity has closed its latest fund, Euro Choice III, on €493m, exceeding the fund's original €350m target.
Capital Dynamics opens office in Hong Kong
28/02/2007. Capital Dynamics, a Zug, Switzerland-headquartered asset management firm exclusively focused on private equity, is about to open a new office in Hong Kong. Markus Ableitinger, a director of Capital Dynamics, will head up the office and will be responsible for growing the Hong Kong-based team.
UK mid-market firm Gresham hires Iain Wolstenholme, Peter Lahoud
28/02/2007. UK mid-market private equity firm Gresham has recruited Iain Wolstenholme as investment director and Peter Lahoud as research and origination manager.
Ridgewood Renewable Power sells UK renewable power generation business
28/02/2007. Ridgewood Renewable Power, an affiliate of Ridgewood Energy Corporation, has sold its UK landfill methane renewable electric power business to MEIF LG Energy, a European infrastructure fund affiliated with Australian investment bank Macquarie, for $230m.
Darby appoints Sean Wallace as senior managing director for Asia Pacific
27/02/2007. Darby Overseas Investments, the private equity arm of Franklin Templeton Investments and a provider of mezzanine and private equity capital in emerging markets, has appointed Sean R Wallace as the senior managing director responsible for Asia Pacific, based in Hong Kong.
Cleantech segment continues to grow
27/02/2007. The cleantech segment across China, Europe, Israel, and the US saw $1.28bn invested in 140 financing rounds in 2006, according to new global research from Dow Jones VentureOne and Ernst & Young. This was up significantly from $664.1m and 103 financings in 2005. However, while the investment levels are growing, cleantech remains a relatively small portion of the overall venture capital market.
Baird Private Equity teams up with Tholons in Bangalore
26/02/2007. Baird Private Equity has entered into a partnership agreement with Tholons, a globalisation advisory and management consulting firm, in Bangalore, India, to provide support and expertise to Baird's portfolio companies.
Nordic firm CapMan to acquire Walki Wisa from UPM
26/02/2007. Nordic private equity firm CapMan has agreed to acquire Walki Wisa Group, a European producer of wrappings and composite materials for industrial applications, from forest industry group UPM-Kymmene Corporation for an undisclosed amount.
Apax, Morgan Stanley to acquire Hub International in $1.8bn deal
26/02/2007. Apax Partners and Morgan Stanley Principal Investments have agreed to acquire Hub International, an insurance broker in North America. The $1.8bn deal includes approximately $1.7bn of fully diluted equity and approximately $145m of debt.
AIGGIG to buy private equity funds portfolio from Eurazeo
26/02/2007. AIG Global Investment Group has agreed with Eurazeo to buy its interest in 28 private equity funds in a transaction valued at approximately $214m, which includes the assumption of unfunded commitments.
KKR, TPG-led consortium to acquire TXU
26/02/2007. An investor group led by Kohlberg Kravis Roberts & Co. and Texas Pacific Group has agreed to acquire Dallas-based energy company TXU Corp. in a transaction valued at $45bn - the largest private equity transaction to date. GS Capital Partners, Lehman Brothers, Citigroup and Morgan Stanley intend to be equity investors at closing.
Markowitz and Doyle launch private equity firm Goldin Ventures
23/02/2007. Steve Markowitz and Mike Doyle, most recently the chairman and president of Eastern Research respectively, have formed a private equity firm, called Goldin Ventures.
Welsh Carson hires former GE Healthcare executive Anthony Ecock
23/02/2007. US private equity firm Welsh, Carson, Anderson & Stowe has appointed Anthony F Ecock as a senior operating executive. In his new role Ecock will work with the firm's portfolio companies in the healthcare sector and identify new business opportunities and trends. He will be based in New York City.
Apax, Cinven to sell fashion group CBR to EQT
22/02/2007. Apax Partners and Cinven have agreed to sell German fashion group CBR to EQT. CBR owns the clothing brands Street One, Cecil and One Touch. The company's turnover in 2006 was €600m. Apax and Cinven declined to comment on the return on their investment.
Providence closes $12bn fund
22/02/2007. Providence Equity Partners has closed its sixth fund, Providence Equity Partners VI, on $12bn. Investors in the new fund include corporate, state and sovereign pension funds, university endowments, private foundations, funds of funds, and high-net-worth individuals.
American Securities Capital Partners opens Shanghai office
22/02/2007. American Securities Capital Partners, a New York-based private equity firm that invests in mid-market companies in North America, has opened an office in Shanghai, China. The new office is expected to support ASCP portfolio companies with sourcing, supply chain optimisation and access to Asian markets.
CalPERS commits $400m each to cleantech, emerging market ventures
22/02/2007. The California Public Employees' Retirement System will commit $400m each to two new private equity vehicles: one focusing on clean energy and technology investments, and the other on global emerging markets. The investments will be managed by specialised teams within Pacific Corporate Group, headquartered in La Jolla, California.
Earlybird hires Gayathri Radhakrishnan as associate
21/02/2007. Earlybird has appointed Gayathri Radhakrishnan as an associate. Radhakrishnan will join the firm's technology team.
Atlantic Bridge-led consortium acquires LogicaCMG's Telecoms Products business
21/02/2007. European multi-stage technology private equity fund Atlantic Bridge Ventures has led a consortium of private equity buyers in the acquisition of LogicaCMG's Telecoms Products business, for a cash consideration of £265m.
PCG AM spins off from Pacific Corporate Group
21/02/2007. Pacific Corporate Group Asset Management, which was formed in 2005 as a business unit of California-based investment management and advisory firm Pacific Corporate Group, has been spun-off and re-established as a separate, independent, employee-owned firm.
Japanese LPs weighing into private equity faster than ever before
21/02/2007. Investment allocation to private equity by Japanese companies is expected to rise over the next two to five years, according to a study completed by Adveq and Kyoto University. The survey, Adveq’s first full-market survey on the attitudes of Japanese institutional investors towards private equity, revealed that 25.2 per cent of Japanese institutions are already investing in private equity; the majority of these only began doing so after 2000. The study also reveals that Japanese investors’ allocation to private equity, by percentage of assets under management, will triple in the next two to five years.
Apollo to acquire Smart & Final
21/02/2007. Apollo Management has agreed to acquire Smart & Final for $22 per share in cash. The estimated total enterprise value of the transaction, including the value of the company's existing debt obligations, net of cash, is approximately $812.9m.
Stirling Square, Diamond Castle acquire Public Safety Equipment
21/02/2007. Stirling Square Capital Partners, Diamond Castle Holdings and Seton House Acquisition have signed a definitive agreement regarding the sale by Seton House of the international highway safety solutions business Public Safety Equipment to funds managed by SSCP and DCH.
Private equity consortium to acquire Central Parking Corporation
21/02/2007. Nashville, Tennessee-headquartered Central Parking Corporation has agreed to merge with KCPC Holdings, a company formed by affiliates of Kohlberg & Company, Lubert-Adler and Chrysalis Capital Partners. Under the terms of the merger agreement, Central Parking's shareholders will receive $22.53 per share in cash.
US venture valuations return to 2000 values
21/02/2007. US venture capital-backed companies are being valued at the highest level since 2000, according to the latest research from Dow Jones VentureOne. The median pre-money valuation of US venture-backed companies reached $18.5m for 2006, up from $15.9m in 2005.
Capital Dynamics hires co-investment specialists
20/02/2007. Capital Dynamics, a Zug, Switzerland-headquartered asset management firm exclusively focused on private equity, has appointed Andrew Beaton and David Smith as managing directors. Beaton and Smith will lead the co-investment team from the Capital Dynamics London office. Smith will also join the Capital Dynamics investment committee.
Milestone changes name to Blackstreet
19/02/2007. US private equity firm Milestone Capital Management has changed its name to Blackstreet Capital Management and relocated its office to Bethesda, Maryland from Washington, DC to mark the final step in Milestone Capital Management's separation from Milestone Merchant Partners.
Investcorp to sell car park operator APCOA to Eurazeo for €885m
19/02/2007. Investcorp has agreed to sell APCOA, a pan-European manager of parking services, to Eurazeo for €885m.
Aurora-led consortium to acquire Mitchell International
19/02/2007. An investor group led by Aurora Capital and including General Electric Pension Trust has agreed to acquire Mitchell International, a US provider of information, workflow and performance management solutions to the automotive insurance claims and collision repair industries, from a Hellman & Friedman-led investor group.
OVP VII closes on $250m hard cap
16/02/2007. US early stage venture capital firm OVP Venture Partners has closed its seventh fund above its $200m target on $250m, the hard cap of the fund. A first closing was held on $207m in May 2006.
Thoma Cressey Equity Partners renames itself Thoma Cressey Bravo
16/02/2007. Thoma Cressey Equity Partners is changing its name to Thoma Cressey Bravo in recognition of the contributions of managing partner Orlando Bravo.
Norwegian firm HitecVision opens US office
16/02/2007. HitecVision Private Equity, a private equity firm focusing on the oil and gas sector, is opening an office in Houston, Texas.
European and North American cleantech venture investment totals $3.6bn in 2006
16/02/2007. North American and European venture capital investment in the cleantech category reached a record $3.6bn in 2006, representing a significant increase from the $2.5bn invested in 2005 and the $1.7bn invested in 2004, according to the Cleantech Venture Network.
Index Ventures IV closes on €350m hard cap
15/02/2007. Europe-based venture capital firm Index Ventures has closed Index Ventures IV on €350m, the hard cap of the fund. There were no intermediate closings.
Pantheon hires Marcus Alexis, Josephine Defty
15/02/2007. Private equity fund of funds manager Pantheon has appointed Marcus Alexis and Josephine Defty to its global Client Service team. Alexis has been hired as principal, head of US client service and Defty as vice president, client service in Europe.
Venture capital providers invest $1.89bn in Chinese companies in 2006
14/02/2007. Venture capital investment in companies headquartered in Mainland China reached the highest point in three years with 214 deals completed and $1.89bn invested in 2006, according to the China Quarterly Venture Capital Report released by Dow Jones VentureOne and Ernst & Young. Deal flow was up 37 per cent from 156 deals and the invested capital increased 55 per cent from $1.22bn 2005.
KKR appoints Naohiko Kitsuta as managing director in Japan office
14/02/2007. Naohiko Kitsuta has joined Kohlberg Kravis Roberts & Co. from MKS Partners. He has been appointed as a managing director and will be based in the firm's Japan office.
Blackstone to acquire Pinnacle Foods for $2.16bn
13/02/2007. The Blackstone Group has agreed to acquire Pinnacle Foods Group, a manufacturer, marketer and distributor of branded food products in the US and Canada, for approximately $2.16bn in cash.
Vestar to join Carlyle in AZ Electronic Materials investment
13/02/2007. Vestar Capital Partners has agreed to invest in AZ Electronic Materials alongside The Carlyle Group. Carlyle acquired the specialty chemicals business from Clariant in 2004. Following the latest transaction, the company will be jointly owned by Vestar and Carlyle as equal partners, and AZ's management team led by CEO Thomas von Krannichfeldt. Financial details were not disclosed.
Venture capital firm Braemar Energy appoints Dennis Costello
13/02/2007. New York-headquartered energy technology venture capital firm Braemar Energy Ventures has appointed Dennis Costello as a managing director. The former chief investment officer for North America of Advent International will head up Braemar Energy's new Boston office.
US mid-market firm Fenway Partners acquires Gemini Traffic Sales
13/02/2007. US mid-market private equity firm Fenway Partners has partnered with the current owners to acquire a majority interest in Edison, New Jersey-headquartered Gemini Traffic Sales, a regional less-than-truckload and nationwide full truckload carrier specialising in the transportation of time and temperature-sensitive products. Financial terms of the transaction were not disclosed.
Oregon Investment Fund commits to Sherbrooke Capital, Nth Power
13/02/2007. The Oregon Investment Fund has announced an additional round of investment commitments to two venture capital firms. Individual investment amounts were not disclosed, although the new investments will nearly complete Credit Suisse's three-year investment horizon with combined commitments totalling $76m to venture capital and private equity funds, as well as co-investments, according to a statement.
TRG launches asset management practice
13/02/2007. TRG, a provider in business renewal and value creation for distressed and underperforming mid-market companies, has formed an asset management practice dedicated to managing distressed and sub-performance private equity investments.
Granville Baird to acquire majority stake in Amoena Group
13/02/2007. Granville Baird Capital Partners Advisers has agreed to acquire Raubling, Germany-headquartered Amoena Group in a management buy-out transaction from the Danish medical devices company Coloplast for a purchase price of €102.25m. The current management team of Amoena will acquire a stake in the company alongside the funds advised by Granville Baird.
Bridgepoint to increase its activity in CEE region with new Warsaw office
12/02/2007. European private equity firm Bridgepoint plans to open a new office in Warsaw to help the firm access investment opportunities across Central and Eastern Europe. The new office will be led by Khai Tan, the former head of Advent International's operations in Poland.
Hatteras's third venture capital fund holds first closing
12/02/2007. Hatteras Venture Partners III has held a first closing on $60m. The fund will invest in seed and early stage companies in biopharmaceuticals, medical devices, diagnostics and related opportunities in human medicine. The fund is expected to close on $100m.
SigmaBleyzer closes fourth fund on €250m
12/02/2007. SigmaBleyzer, a private equity firm focused on investing in the Ukraine and Southeastern Europe, has closed its fourth fund on €250m, 25 per cent above its target. SigmaBleyzer Southeast European Fund IV launched in August 2005.
Nokia Growth Partners creates fund of funds for emerging technology markets
12/02/2007. Menlo Park, California-headquartered Nokia Growth Partners, a private equity and venture capital firm backed by Nokia, has established a $100m fund of funds with a special investment focus on emerging technology markets, including India and China.
Providence, Carlyle to invest in APN
12/02/2007. An investment consortium comprising Providence Equity Partners, The Carlyle Group and media and communications group Independent News & Media has agreed to acquire all of the issued share capital of Australia's APN News & Media by way of a Scheme of Arrangement. The offer of $6.10 per share values APN at A$3.8bn (or approximately $2.9bn).
David Wickham joins INVESCO
12/02/2007. David Wickham has joined INVESCO's private equity fund of funds team as a principal, based in London. Wickham will focus on investments in European partnerships.
Tuareg Capital holds first closing on Libya Fund
09/02/2007. North Africa-focused private equity firm Tuareg Capital's Libya Fund has held a first closing on $30m. The target of the firm's inaugural fund is $100m.
Edcon board recommends Bain Capital's ZAR25bn buy-out offer
09/02/2007. The board of directors of Edcon has unanimously recommended to shareholders an offer from Bain Capital to acquire its entire ordinary share capital at ZAR46 per share. The total value of the transaction is R25bn ($3.5bn). The existing Edcon management team will have the opportunity to invest in the company alongside Bain Capital.
Ares Management, Teachers' to acquire GNC from Apollo
09/02/2007. Ares Management and the Ontario Teachers' Pension Plan have agreed to acquire Pittsburgh, Pennsylvania-headquartered GNC Parent Corporation, the parent company of General Nutrition Centers, from Apollo Management. The total enterprise value of the transaction is $1.65bn.
CapMan Technology 2007 fund holds first closing on €110m
09/02/2007. CapMan Technology 2007 fund has held a first closing on €110m. The target is €150m. CapMan has committed €15m to the new fund.
Blackstone wins battle for Equity Office
08/02/2007. US buy-out giant The Blackstone Group has defeated Vornado Realty Trust in the auction of Equity Office Properties Trust, a large publicly traded owner and manager of office properties in the US. Shareholders of Equity Office have approved the $39bn offer at a special meeting. This is the biggest buy-out transaction to date.
Advent acquires majority stake in Uruguayan consumer credit company
08/02/2007. Mid-market buy-out firm Advent International has acquired an 80 per cent interest in Pronto!, a consumer credit company in Uruguay, from a group of local individual investors. The value of the all-equity transaction and other financial terms were not disclosed.
Gregg Fergus joins Baird Venture Partners as executive-in-residence
08/02/2007. Baird Venture Partners, the US-based venture capital affiliate of investment firm Baird, has appointed Gregg Fergus as an executive-in-residence. Fergus will be based in BVP's Madison office.
Apax, TPG sell TIM Hellas to Weather Investments in €3.4bn transaction
07/02/2007. Apax Partners and TPG have sold Greek mobile phone carrier TIM Hellas Telecommunications to Weather Investments. The sale price includes €500m of equity plus €2.9bn of net debt at year end 2006.
Ontario Teachers', CPP Investment Board establish private equity fund in Turkey
07/02/2007. Teachers' Private Capital, the private investment arm of the Ontario Teachers' Pension Plan, and the Canada Pension Plan Investment Board have jointly led the establishment of Actera Partners, a private equity fund exclusively focused on investment opportunities in the Republic of Turkey. As cornerstone investors, the two institutions have committed €75m each to the new fund, which expects to have raised €250m by mid-2007.
Venture capital firm OVP hires Carl Weissman
07/02/2007. Early stage venture capital firm OVP Venture Partners has appointed Carl Weissman as venture partner. Weissman will focus on investments in digital biology and the convergence of IT, nanotechnology and biotechnology.
General Atlantic to buy stake in Network Solutions from Najafi Companies
07/02/2007. General Atlantic has agreed to acquire Network Solutions, a provider of online solutions for small businesses, from Najafi Companies (formerly Pivotal Private Equity). Terms of the transaction were not disclosed.
European venture capital investment exceeds €4bn in 2006
07/02/2007. Venture capital investment into European companies topped €4.12bn in 2006, the highest annual investment amount since 2002 (€5.05bn), according to the quarterly European Venture Capital Report released by Ernst & Young and Dow Jones VentureOne.
Tom Hicks pushes another one past the fence
07/02/2007. Tom Hicks and George Gillett have agreed to buy Liverpool FC for £219m including debt. The board has recommended that the club's shareholders accept the offer.
Creandum closes second fund on SEK750m hard cap
06/02/2007. Nordic early stage venture capital firm Creandum has closed its second fund, Creandum II, on SEK750m (approximately €80m). The amount raised was both the original target of the fund and the hard cap. Staffan Helgesson, managing partner at Creandum, told AltAssets that it took his firm about 100 days to raise the new fund.
Mobile and broadband communications expert Richard Wong joins Accel Partners
06/02/2007. Silicon Valley venture capital firm Accel Partners has appointed Richard Wong as a partner in the firm's Palo Alto office.
3i to list 3i Infrastructure on London Stock Exchange
06/02/2007. 3i Infrastructure, a newly-established, Jersey-incorporated closed-ended investment company, has announced its intention to float on the London Stock Exchange. 3i Infrastructure will seek to raise between £700m and £1.3bn (before fees and expenses and before exercise of an over-allotment option) through an offer to institutional and certain other investors in the UK and elsewhere, according to a statement.
Italian firm Alto Partners closes second fund on €165m
06/02/2007. Milan-based mid-market private equity firm Alto Partners has announced the final closing of Alto Capital II, an investment vehicle dedicated to mid-market buy-out investments in Italy. The fund closed on €165m.
DLJ Merchant Banking Partners sells Wastequip
06/02/2007. DLJ Merchant Banking Partners, a private equity investment affiliate of Credit Suisse, has completed the sale of Wastequip to Odyssey Investment Partners in a transaction valued at $616m.
3i heads to Romania for CMU deal
05/02/2007. Centrul Medical Unirea, a provider of integrated medical services in Romania, has sold a majority stake to 3i and 3TS, in what the venture firms are describing as the largest transaction to involve a Romanian healthcare provider.
Another hedge fund edges down the private equity route
05/02/2007. TriAlpha, the asset management arm of the Stonehage Group, is launching a new fund in partnership with Oceana, a group controlled by the Lewis family. The Trialpha Oceana fund plans to invest in a targeted portfolio of both public and private equities.
TowerBrook Capital Partners tries on Jimmy Choo for size
05/02/2007. TowerBrook Capital Partners and Jimmy Choo founder Tamara Mellon have acquired the luxury shoe business from Lion Capital for an enterprise value of £185m. TowerBrook will be the lead investor and majority owner of the company. Gala Capital, the Spanish private equity firm, is also to invest in the transaction.
CCMP Capital Advisors and GS Capital Partners target Triad in $6.4bn deal
05/02/2007. Triad Hospitals has entered into a definitive merger agreement with CCMP Capital Advisors and GS Capital Partners in a transaction valued at approximately $6.4bn, including approximately $1.7bn of debt. Under the terms of the agreement, CCMP Capital and GSCP will acquire all of the outstanding shares of Triad common stock for $50.25 per share in cash.
AIG Global Investment Group invests in Brazilian manufacturer
02/02/2007. An investor consortium, led by AIG Capital Partners and including Governanca e Gestao, Banco Espirito Santo and the Constantino Family, a Brazilian transportation group, has acquired 100 per cent of the Brazilian private company Companhia Providencia Industria e Comercio for a total purchase price of US$432.6m. All necessary regulatory approvals have already been received. The AIG Global Emerging Markets Fund II funded part of the transaction.
UK firm Frontiers Capital hires new director
02/02/2007. UK venture capital firm Frontiers Capital has appointed Charlie Parker as a director.
CVC, KKR and Blackstone interested in buying UK food retailer Sainsbury's
02/02/2007. CVC Capital Partners, Kohlberg Kravis Roberts & Co. and The Blackstone Group have confirmed in a statement that they are at the preliminary stages of assessing J Sainsbury plc.
Eqvitec hires Ivar Strömberg as senior advisor
01/02/2007. Northern European technology-focused venture capital firm Eqvitec Partners has appointed Ivar Strömberg as a senior advisor to strengthen its Swedish operations. Strömberg has joined the three other investments professionals in Eqvitec's Stockholm office.
Henderson Equity Partners closes PFI Secondary Fund on €859m
01/02/2007. Henderson Equity Partners has closed its second PFI fund, Henderson PFI Secondary Fund II, on €859m. The new fund, headed by Guy Pigache and Paul Woodbury, will primarily invest in the secondary market for operational private finance initiative projects.
Littlejohn to sell Diamond Innovations to Sandvik Tooling
01/02/2007. Greenwich, Connecticut-based mid-market buy-out specialist Littlejohn & Co. has agreed to sell Diamond Innovations to Sandvik Tooling, a subsidiary of Sandvik of Sweden.
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