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peHUB First Read

Read all about the latest midweek private equity news including the ex 3i Asia head’s latest project, Castlelake III’s final close, OMERS’ and CalPERS’ strong direct performance and why the term life sciences needs to take a back seat.

Electra to buy Hotter Shoes – Reuters

Private equity firm Electra Private Equity will acquire footwear retailer Hotter Shoes, The Telegraph reported on Sunday, writes Reuters. The shoe company, which was founded in 1959 as Beaconsfield Footwear, had hired investment bank Rothschild early last year to explore strategic options for the business.

Electra Private Equity Plans Shopping Spree

Publicly traded, U.K.-based Electra Private Equity announced today that it will use its £400m-plus war chest to go on a shopping spree amid an anticipated capital crunch owing to eurozone concerns. REUTERS NEWS: Electra Private Equity sees a slowing of its disposals over the next few months as tough debt markets weigh on buyers’ capacity to do […]

Värde Partners Enables SAV Exit

Global fund manager Värde Partners has agreed to acquire SAV Credit Limited, a UK-based specialist credit card provider, from majority shareholders Palamon Capital Partners, Electra Private Equity and Morgan Stanley Alternative Investment Partners in a deal worth £472 million. Palamon, Electra, and Morgan Stanley have supported the development of SAV from a start-up in 2002. Värde Partners first partnered with SAV Credit in March 2010 and is acquiring the business as part of its strategic growth plans.

Electra Private Equity Sells Its Minority Stake In Rio Trens

Electra Private Equity PLC sold its minority stake in Rio Trens Corp., which owns interest in a transportation company in Brazil. Electra Private said the deal represents an uplift of 69 pence per share from Electra’s net asset value on March 31 of 1,900 pence per share, based on exchange rates at the time of transaction. This valuation also reflects an additional investment made in June.

Electra Private Equity Targeting Distressed Sellers

(Reuters) – Britain’s Electra Private Equity (ELTA.L) is back targeting distressed sellers for new deals after a year of firefighting to protect investments and limit declines in asset valuations. Electra, one of Britain’s few listed private equity houses, said on Tuesday net asset value (NAV) per share in the year to end-September slipped 4.5 percent […]

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