Private equity firm Terra Firma will return 3 billion euros ($4 billion) to investors through disposals within the next 12 to 18 months, the Financial Times reported on its website on Sunday, writes Reuters. Terra Firma, founded by Guy Hands, will also persevere with a 3 billion euro fund to buy green infrastructure assets, less than the 5 billion originally planned, after China Development Bank failed to commit to the fund, the FT said.

Find out what’s been happening over the weekend with the latest news links covering a private equity charity merger, the latest in Asian private equity deals and Terra Firma’s plan to return billions to investors over the next 18 months.

The private equity group Terra Firma plans to sell assets this year that are likely to include the European cinema chain Odeon & UCI Group to raise more than 1 billion pounds ($1.6 billion), according to the Financial Times, writes Reuters. The group, led by dealmaker Guy Hands, plans first to sell the energy firms Phoenix Natural Gas and Infinis before selling Odeon later in the year, writes Reuters.

Last week, we discovered which private equity firm was the biggest dealmaker. Now it’s time for the largest PE deals of the year. Global PE-backed M&A totaled $267 billion so far in 2012, a 12% drop from 2011, according to preliminary data from Thomson Reuters. Private equity-backed mergers targeting the U.S. reached roughly $137 billion year-to-date, a 7% decline from 2011.

Terra Firma‘s planned ABS-style Payment-In-Kind bond may be easier to sell to investors than some market experts anticipate due to stricter rules on cash payouts to equity investors, writes Reuters/IFR. Guy Hands’ Terra Firma buyout group this week agreed to buy Annington Homes from Nomura in a deal worth 3.2 billion pounds ($5.1 billion), which will be financed by 1 billion pounds of new equity, debt financing in the form of the PIK, and the assumption of existing securitised debt of 2.2 billion pounds.

Euro-denominated buyout funds, which play a prominent role in CPP Investment Board’s portfolio, have provided some solid returns over the years. But there is one player that shines above the rest, according to the Buyouts performance database.

For our European readers who don’t have a holiday today, this morning’s First Read focuses on Cinven’s Turkish delight, bidders lining up for United Biscuits, Terra Firma’s plans for Infinis and whether it will be third time lucky for the Facebook phone?

Private equity group Terra Firma is in advanced talks to acquire Britain’s biggest care home operator Four Seasons Health Care, according to the Financial Times, writes Reuters. The potential deal for the company, which is seeking to refinance its debt before a September deadline, would value the group’s debt and equity at 825 million pounds [...]

Terra Firma is set to acquire UK garden centre operator, The Garden Centre Group, in a deal valuing the business at 276 million pounds ($438 million), according to Reuters. The Garden Centre Group operates 129 centres across England and Wales under brands such as Wyevale, Blooms, Bridgmere and Country Homes and Gardens. Reuters – Britain’s [...]

At the annual SuperReturn conference, many PE executives acknowledged they still had much to do to repair their image as unscrupulous corporate raiders.