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HSBC Private Equity Invests in HCT Shaping Systems

19 years ago

HSBC Private Equity in May led and arranged an institutional funding for HCT Shaping Systems, a Swiss company specialising in machinery and systems for cutting silicon wafers for the semi-conductor and photovoltaic industries. HCT’s wire-saw cutting technology enables silicon wafers to be cut with more precision than conventional diamond-saw equipment, thus reducing wastage and obviating […]

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Apax Looks to Future With Magazines Buyout

19 years ago

Pearson’s consumer magazine business was sold in April to Apax Partners and management for GBP142 million (ecu 212 million), including GBP125 million cash and profit-related deferred consideration payments totalling an estimated GBP17 million. The businesses acquired include the UK consumer magazine publisher Future Publishing; French computing magazine publisher Edicorp Publications; and the Futurenet commercial website […]

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Murray Johnstone Backs Jim Ratcliffe in Ineos Buyout

19 years ago

“Serial entrepreneur” Jim Ratcliffe heads a buyout team that has acquired Ineos Group from Inspec Group in a GBP90.5 million (ecu 135 million) deal. In 1992, Jim Ratcliffe left Advent International and, together with Dr John Hollowood, led the MBI/MBO of BP’s speciality chemicals division, forming Inspec Group. Inspec floated in 1994 and is currently […]

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Investors Rejig Structure Of HMV Media Group

19 years ago

The original structure for the GBP800 million (ecu 1.19 billion) HMV Media deal (EVCJ April/May 1998, page 27) was slightly adjusted following a delay in the planned high-yield issue. However, press reports that the senior banks, Merrill Lynch & Co and SBC Warburg Dillon Read, cancelled the original GBP500 million syndicated loan after encountering low […]

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Record High-Yield Issue Planned for Kappa Packaging

19 years ago

The largest private equity transaction to date this year was announced in mid-May, when Cinven and CVC Capital Partners agreed to acquire the packaging division of KNP of the Netherlands in a DFl 3.4 billion (ecu 1.5 billion) deal set to complete in July. As much as 80% of the acquisition consideration will be met […]

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Technology Favoured as UK Venture Market Soared in 1997 Massive surge in fund raising outstripped growth in disbursements

19 years ago

The Report on 1997 Investment Activity published by the British Venture Capital Association (BVCA) contains a number of surprises as well as a predictable quota of broken records. It became clear as 1997 progressed that fund-raising records would not just be shattered, but pulverised. This indeed was the case: UK funds attracted GBP6.496 billion (ecu […]

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Fund-Raising Boom Dwarfed Investment Growth in 1997

19 years ago

Preliminary figures from the annual survey of the European Venture Capital Association (EVCA), confirm 1997 as a year of explosive growth in the European private equity market. As such, 1997 was marked by an unprecedented increase in capital flowing into European private equity funds. The year’s tally totalled ecu 20 billion, 2.5 times more than […]

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Evergreen Readies First Secondary Fund

19 years ago

Evergreen Canada-Israel Investments completed a $21 million (ecu 19 million) initial close in May on its newest product, the Harvest Fund, which will make secondary investment in Israeli venture capital funds. This vehicle, expected to collect approximately $30 million by the end of June, is the first secondary fund, not only for Evergreen, but for […]

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Rothschild Wins Licence For Australian Biotech Fund

19 years ago

Rothschild Bioscience Managers Limited (RBM), the Australian operating arm of the Rothschild Bioscience Unit, in May signed a licence agreement with the Australian government to operate a new fund, the Australian Bioscience Trust (ABT), under the new Innovation Investment Fund (IIF) programme. Under this programme, the Australian Federal Government will provide an initial A$130 million […]

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Nokia Will Enter Corporate Venturing Market

19 years ago

Broad-based Finnish telecommunications group Nokia is the latest European corporation to announce its entry into the corporate venturing arena. The group plans to establish the Nokia Venture Capital Fund, capitalised at $100 million (ecu 91 million), to fuel future growth and boost new product and long-term business development. Nokia itself has grown rapidly recently through […]

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Pantheon Launches Third US Fund-of-Funds

19 years ago

Pantheon Group, which recently wrapped its first European fund-of-funds on ecu 214 million and is approaching a close over target on its second Asian fund-of-funds, began marketing its third US fund-of-funds in April. In contrast with the group’s two earlier US-focused vehicles, which were raised from non-US LPs, Pantheon USA Venture Partners III aims to […]

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Schroder Ventures Seeks $200 Million for Life Sciences Fund

19 years ago

Schroder Ventures has doubled the target for its second international life sciences vehicle. The group seeks to raise $200 million (ecu 183 million) for Schroder Ventures International Life Sciences Fund II, a successor to the 1994-vintage fund. Like its predecessor, the new fund will build a portfolio that will be biased towards US and early-stage […]

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BT Alex Brown Moves Into European Fund Placement

19 years ago

Capitalising on US investors’ interest in European funds, BT Alex Brown’s placement agency has signed on its first two Europe-based buyout funds and is marketing them to both US and international limited partners. Butler Capital Partners, a Paris-based private equity firm in May sent out offer documents for France Private Equity II LP, which has […]

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Advent Eyes GBP100 Million For Second Venture LP

19 years ago

Advent Limited in May held a GBP45 million (ecu 67 million) first closing for Advent Private Equity Fund II (APEF II). A GBP7.5 million commitment from the European Investment Fund (EIF) – the largest investment by this vehicle to date – helped boost APEF II over its original first closing target of GBP40 million. Advent […]

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BPEP Develops Leveraged Model for UK Fund

19 years ago

At an international venture conference held at the beginning of June, “Equity Gap” Chancellor Gordon Brown unveiled plans for a GBP120 million (ecu 179 million) fund to support “equity gap” businesses in the UK regions. Key to the Baring English Growth Fund is a leveraged structure designed to enable the vehicle to deliver returns to […]

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HSBC Private Equity Establishes French Base

19 years ago

HSBC Private Equity’s investment in HCT Shaping Systems of Switzerland (story, page 23), was the inaugural deal coordinated by the group’s new Paris representative office, which opened three months ago. The Paris office, within HSBC Investment Bank, is headed by investment director Paul Bekx and investment manager Paul Williams. The two executives divide their time […]

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Advisers on Private Equity Launches Fund-of-II

19 years ago

Advisers on Private Equity, the Zurich-based international private equity boutique established in April 1997, aims to hold a first closing on its second fund-of-funds, Private Equity European Partners CV (PEEUP), in the first week of July. PEEUP has a target of ecu 100 million and will be capped at ecu 150 million. Last year, the […]

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NeSBIC Seeks to Exploit Technology Convergence

19 years ago

NeSBIC Groep is in the process of raising a fund to provide what it describes as “value-added venture capital for IT, telecoms and media”. The NeSBIC Converging Technologies Europe (CTE) Fund is targeting DFl 100 million (ecu 45 million), 32.5% of which will be provided by NeSBIC’s parent Fortis. The balance is being marketed to […]

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