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NatWest Equity Partners Eyes LP Fund Market

19 years ago

NatWest Equity Partners (NWEP) is preparing its first external LP fund. Although a late entrant to the third-party vehicle market, the firm already manages funds for a number of major portfolio clients, including Rover Group and Shell, as well as the Gartmore funds, which came under NWEP management when its parent bank acquired Gartmore early […]

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Excel Launches $100 Million Fund for Iberia

19 years ago

Excel Partners began fund raising for Excel Capital Partners III in November. The group, newly independent after its founding partners bought out Rothschild’s interest in the management company in early 1997, is targeting $100-120 million (ecu 90-108 million) for later-stage investments in Spanish and Portuguese companies. The existing funds under Excel management, Excel Capital Partners […]

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ACT Launches IRGBP 75 Million Fund

19 years ago

ACT Venture Capital, Ireland’s largest and most successful private equity house, is preparing to launch an IRGBP 75 million (ecu 98.5 million) 1998 fund, and expects to hold an initial closing on ACT 98 during the first quarter. ACT VC, formed by Niall Carroll and other members of Allied Irish Bank’s venture capital team, raised […]

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Advent International Opens French Operation

19 years ago

France is the one major European market where Advent International had neither a wholly-owned office or a local affiliate. Now, in response to an increase in investment opportunities in France, the firm has opened a Paris office and recruited Eric Adjoubel to head its French operation. Massimo Prelz, managing director of Advent International’s Continental European […]

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Granville Enters Germany

19 years ago

The recent blossoming of the German private equity market over the last 18 months has prompted numerous UK groups to establish a direct presence there. Most of these groups are players at the larger end of the buyout market. By contrast, Granville Private Equity Managers, which has just announced the opening of Granville Private Equity […]

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HSBC Boosts Partnership Scheme to GBP700 Million

19 years ago

HSBC Private Equity has secured its membership of the “billion-dollar-plus” club of European private equity players following an enlarged allocation from its parent bank and a “significant” commitment from an unnamed major US corporate pension fund. The US pension’s commitment boosted the HSBC Private Equity Partnership Scheme, a co-investment pool initiated in 1994, to GBP700 […]

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Ecu 1 Billion Pours In To Sixth BC Partners Fund

19 years ago

Phenomenal sums continue to pour in to European buyout funds. BC Partners’ sixth and largest fund closed in October on ecu 1 billion. It took the group, which tends to keep a lower profile than some of its peers in the major buyouts market, less than six months to raise BC European Capital VI (BCEP […]

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SocGen Forms European Buyout Business

19 years ago

Societe Generale, which has established itself as a force to be reckoned with in the senior debt market in recent years, is now entering the European buyout market as an equity player, with aims to establish itself in the top rank of European buyout houses. The bank has made a global private equity allocation of […]

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European Investment Benchmarks Report Shows 18.6% IRR

19 years ago

Headline numbers from the first Investment Benchmarks Report: International Private Equity were announced at Venture Forum Europe ’97. The study, which was carried out jointly by Venture Economics and Bannock Consulting, with the full co-operation of the EVCA, shows an overall annual net IRR to investors of 18.6% on mature venture funds formed since 1980. […]

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Rome Was Not Built Or Sacked In A Day

19 years ago

The most popularly recognised features of Italian business in the UK press have deservedly been the contribution that Italian footballers have made to the quality of the game in the Premier League, Italy’s inability to defeat England in Rome, the Ferrari-Williams duel in Formula 1 and the improved quality and reliability of the new Alfa […]

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Apax Adds To.Healthcare Team

19 years ago

Following the closing of its $650 million Apax Europe III fund (EVCJ, October/November 1997, page 8), Apax Partners is strengthening its European biotechnology and healthcare investment team. Dr Stephen Thompson, an immunologist and molecular biologist from Cantab Pharmaceuticals, will join ApaxOs London office to work alongside Dr Hamish Hale, Dr Paul Haycock and Dr Jeremy […]

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Zylepsis Raises From Prelude and Sofipa

19 years ago

Prelude Trust led a o2.5 million (ecu 3.7 million) second funding round for Zylepsis, a young company applying its proprietary biotransformation technology to the discovery of natural ingredients for the food and personal care industries. Zylepsis’s biotransformation technology uses enzyme systems as catalysts for the conversion of raw materials into high-added-value natural or nature-identical products. […]

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Abingworth and GIMV Back Worm Genomics Group

19 years ago

Abingworth Management of the UK linked with GIMV of Belgium to make its first Continental European investment through its new $100 million fund, Abingworth Bioventures II. The two groups have provided $8.5 million (ecu 7.6 million) backing to Devgen, a Ghent-based drug development and genomics company. Devgen centres its research around the C. elegans worm, […]

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Gilde Leads Buyout of Lacquer Systems Group

19 years ago

Hickson International of the UK in October sold its Netherlands-based lacquer systems division, including a German subsidiary, Hickson Coatings Deutschland, to a Gilde-led buyout. The group has been renamed Doelfray and Macostan Coatings (D&M Coatings). The price paid for the company, which increased its turnover from DFl 45 million to DFl 50 million (ecu 22.5 […]

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ACT Completes IRGBP 18 Million Lifestyle MBO

19 years ago

ACT Venture Capital in November completed the IRGBP 18 million (ecu 23.6 million) buyout of Lifestyle Sport, a major deal in the context of the Irish buyout market. Lifestyle Sport is the largest sportswear retail chain in Ireland, with 49 shops operating throughout both the Republic and in Northern Ireland, and a leading market position […]

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Alpha Has Active End to Year: Five Deals Close

19 years ago

The Alpha Group has ended 1997 on a high note, with five deal completions announced since mid-September. These took the firm’s tally of investments for the year to seven, involving direct investment of FFr 340 million (ecu 51.4 million) by Alpha Group funds alongside FFr 643 million of co-investment by its fund participants. The group’s […]

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NatWest Equity Partners Acquires Util of Turin in MBI

19 years ago

The buy-in of Sogepas/Util of Turin is the most recent investment in Italy by NatWest Equity Partners (NWEP), which next year plans to raise its first LP fund for buyouts in Western Europe (story, page 10). NWEP backed Franco De Gennaro, the former managing director of DEA who previously was general manager of Sandretto Industrie, […]

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Phildrew and UBS Capital Link for Trident Deal

19 years ago

Phildrew Ventures and UBS Capital announced in October their acquisition of the majority of FKI plc’s Automotive Division. The deal is due to complete in December. A new company, Trident Automotive, was formed to effect the acquisition, for $157.5 million cash (ecu 141.4 million), subject to a possible adjustment based on net assets at completion. […]

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