Advent International appoints operating partner

J. Rich Alexander has joined Advent International as an operating partner. He will work with Advent’s chemicals team to identify and evaluate new investment opportunities in the chemicals and materials sector and create value in existing portfolio companies.

Advent International leads Ocensa deal

An investor group led by Advent International is to acquire a minority interest in Oleoducto Central S.A., a Colombian crude oil transportation system. Colombia’s two largest pension funds Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. and Administradora de Fondos de Pensiones y Cesantía Protección S.A. will join Advent, through a co-investment fund formed by Advent. Completion of the transaction is subject to customary closing conditions and is expected to take place within the next few weeks.

Advent offers $1.58bn cash for UNIT4 – Reuters

Private equity firm Advent International has made a cash offer of 1.17 billion euros ($1.58 billion) for UNIT4 NV, the Dutch business software, writes Reuters. The offer represents a 32.4 percent premium to UNIT4’s closing price on October 11, just before it announced it had been approached by companies interested in buying it.

Advent International adds operating partner in China

Advent International has appointed healthcare veteran Lincoln Chee to its operating partner program in China. Chee will advise and work closely with Advent to identify investment opportunities and generate post-investment value within the regional healthcare sector.

Private equity firms bid for Munder – Reuters

Private equity firms Thoma Bravo, Blackstone Group in partnership with Advent International and Corsair in partnership with Flexpoint Ford LLC have submitted bids for Munder Capital Management in a deal that could be valued at up to $400 million, writes Reuters. New York-based private equity firm Crestview Partners is looking to sell Birmingham, Michigan-based Munder after owning it since 2006.

Reuters – Retailer Douglas Pumps Up Funds in Beauty Expansion

German retailer Douglas said it was making up to 500 million euros ($655 million) available to its perfumeries business as part of plans to grow internationally, writes Reuters. Douglas, taken private by the Kreke family that run the group and private equity firm Advent International, said the group would invest in acquisitions both at home and abroad, open new stores and modernise existing ones, writes Reuters.

Enanta Pharmaceuticals Announces IPO pricing

Enanta Pharmaceuticals, a research and development-focused biotechnology company has announced the pricing of its initial public offering of 4,000,000 shares of its common stock at a price to the public of $14.00 per share. Enanta is backed by Advent International, AlpInvest Partners, Alpha Associates, BioVentures Investors, Global Biomedical Partners, Lancet Capital, Oxford Bioscience Partners, TVM Capital and Wheatley Partners.

ABC Supply to Redeem Shares Held by Minority Shareholders

ABC Supply Holding Corp, the parent company of American Builders & Contractors Supply Co, has entered into a definitive agreement to redeem all of the shares held by its minority shareholders, an investor group led by Advent International. Upon the closing of the transaction, 100 percent of the shares of ABC Supply will be controlled by the company’s co-founder, Diane M. Hendricks.

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How to break into private equity

The big topic at the Columbia Business School Private Equity & Venture Capital Conference last week didn’t concern LBOs or Dell’s $24.4 billion take-private. Getting a job in PE was a major issue facing MBA students.

Florida Reaches Torrid $6 Billion Commitment Pace

The pace of new private equity and alternative investments at the Florida State Board of Administration is likely to reach about $6 billion in fiscal 2012-2013, as Florida’s primary $126 billion pension fund gradually ramps up its allocations to so-called strategic investments from zero to 11 percent of the portfolio…

Oregon Commits $400M To Several PE Strategies

The Oregon Investment Council, one of the nation’s largest private equity investors, committed $400 million across five funds since its previous meeting, according to the meeting minutes and the council’s spokesman, James Sinks. The new commitments are the first under the council’s new chief investment officer, John Skjervem, who began the job in November.

Wisconsin

Wisconsin Pledges $340 Million To Five PE Funds

The $83 billion State of Wisconsin Investment Board logged five private equity commitments totaling $340 million in the third quarter, according the system’s latest investment committee report. Three of the five commitments, about two-thirds of the total, were to funds with a European or Asian focus…

Salgar Joins Advent, Will Head Bogotá Office

Mauricio Salgar has joined Advent International as an MD and head of the firm’s office in Bogotá, Colombia. He will lead Advent’s seven-person local team and focus on investments in Colombia, Peru and the surrounding region. Salgar was previously a VP and member of the executive committee at Sanford.

Park Square Capital Backs Douglas

Park Square Capital, a provider of credit products in Europe, has led a mezzanine investment in European retailer DOUGLAS Holding. The financing was in connection with the voluntary public tender offer by Beauty Holding Three AG, a holding company, which is held indirectly through funds advised by Advent International, for all outstanding shares of DOUGLAS.

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