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peHUB First Read

Catch up on the latest after the weekend including Apollo tipping the scale with Fund VIII, a round-up of firms on the fundraising trail and find out whether private equity’s reputation has improved over the last five years.


peHUB First Read

Today First Read brings you news of Thoma Bravo and TPG fundraisings, an insight into the PE financing of technology companies and a first for Facebook shares.

Shareholders oust Morgan as CEO of Strauss Coffee

A general shareholders’ meeting has approved the termination of Todd Morgan’s employment as chief executive of Strauss Coffee, parent company Strauss Group said on Sunday, writes Reuters. Last month a specialised Dutch court dismissed a suit brought by private equity firm TPG against Strauss Coffee, a Dutch-registered company.

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peHUB First Read

This morning read all about TPG shaking up its Asia leadership, how to find a private equity-free lunch and how to go to college like a venture capitalist.

TPG acquires PointPark Properties from Arcapita

TPG has acquired PointPark Properties from Arcapita, an international investment company. As part of the transaction, the investors will also commit additional capital to strengthen P3′s balance sheet and to provide support for future growth.

Noble, TPG back ex-Xstrata boss’s new mining venture – Reuters

Trading house Noble and private equity group TPG have each invested $500 million in a private mining venture led by Mick Davis, the former head of Xstrata, hoping to cash in on low valuations and a dearth of buyers for mining assets, writes Reuters. Davis set up his new venture, named in a statement on Monday as X2 Resources, earlier this year, after he was ousted from Xstrata following the miner’s acquisition by trading giant Glencore, its largest shareholder.

3i offers to buy remaining stake of Scandlines – Reuters

Private equity investor 3i has offered to buy the shares in Scandlines it does not already own, after an attempt to find a buyer for the ferry group failed earlier this summer, writes Reuters. 3i’s bid for the 50 percent stake held by co-owner Allianz Capital Partners (ACP) values Scandlines at more than the 1.3 billion euros ($1.7 billion) that buyout group TPG offered for the whole company, writes Reuters.

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PE Firm Boyu Capital Planning $1.5B Fund Focused on China

(Reuters) – Private equity firm Boyu Capital, whose partners include former TPG executive Mary Ma and the grandson of former China president Jiang Zemin, is planning to raise its second fund and is seeking $1.5 billion, according to people familiar with the matter. Boyu will launch the fund in the second half of the year, continuing its focus on investing into Chinese companies, the sources say.

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