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Hamilton Lane takes back-seat as investors question role

20 years ago

Standard Life Investments held an August first close for European Strategic Partners (ESP), the euro1 billion-target fund-of-funds vehicle it launched last November. The format of ESP has been somewhat refined since initial plans for the fund were announced last spring, highlighting the increasingly sophisticated approach investing institutions – particularly in Europe – are bringing to […]

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EQT Partners moves into Finland

20 years ago

EQT Finland, which closed on Fm830 million in August, is the second country-focused fund EQT Partners AB has added to its stable during the past year. One of the most active buyout investors in the Nordic region, EQT Partners manages SKr 8.6 billion through the EQT Scandinavia I & II funds, which focus on larger […]

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Delta on Gulf course

20 years ago

While investors in the Gulf region have long been substantial supporters of US and European private equity funds, to date they have met with few opportunities to channel capital into their domestic region through professionally managed unquoted funds. In consequence, newly-formed private equity management company Delta Capital Management (DCM) has attracted considerable local interest during […]

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West Private Equity confirms fund plans

20 years ago

West Private Equity, the new private equity arm of WestLB, has now crystallised plans for the launch of its pan-European fund and revealed the identity of its third principal, Dr Michael Paetsch, who will head the group’s German advisory company, West Private Capital. Dr Paetsch has a strong telecommunications background, having spent eight years at […]

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Fund sealed with ARCIS

20 years ago

Paris-based secondaries pioneer ARCIS Finance rounded up $100 million in all for its first standalone European offering, split in roughly equal tranches between US and non-US investors. The first tranche, European Secondary Development Fund (ESD Fund), launched in 1997 and closed in 1998, was raised in Europe and Middle East, with two-thirds coming from institutional […]

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Cummins hedges his bets

20 years ago

It took Andrew Cummins of Explorador Capital Management, the Latin American hedge funds specialist, just a month to round up $15 million for investment in Internet-related ventures focusing on the Latin American markets. The fund, explorador.net, held a first close in July. Explorador analyst Peter Morrow said the Internet vehicle, raised exclusively from US sources, […]

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Pomona seeks improved access

20 years ago

Pomona Capital, best known as a US secondaries specialist, is in the process of raising its second fund-of-funds for primary positions. Although the firm set an initial $50 million target, as for its first primaries vehicle, chief executive officer Michael Granoff anticipates that Pomona Partnership Holdings II (Pomona PH II) may bring in closer to […]

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Financial services giants back Catalyst for growth

20 years ago

The European Financial Services Venture Fund (EFSVF), Europe’s only dedicated fund for niche-oriented retail financial services companies, held a final close on GBP40 million in late July. Launched early last year by Catalyst Fund Management & Research, EFSVF is positioned to capitalise on radical changes in the financial services sector as technological advances and deregulation […]

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Electra Investment Trust heads for the exits: The winding up of the Electra Investment Trust proceeds apace following Electra’s

20 years ago

Electra Investment Trust (EIT) has wrapped up two substantial disposals via sales to other UK private equity houses. The realisations, of PHS Holdings and The Stationery Office Holdings (TSOH), form part of EIT’s continuing liquidation programme. The trust plans to wind itself up within five years following its successful defence earlier this year against a […]

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FKI sorts out Crisplant deal

20 years ago

Industri Kapital has disposed of its entire holding in Crisplant Industries, selling its 47.1 per cent stake in the Danish sorting systems manufacturer to FKI Group of the UK. FKI is paying DKr 425 per share, a price that represents an average 40 per cent premium to Crisplant’s average share price in the three months […]

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MC role over for Candover

20 years ago

Candover has announced the sale of MC International, the group’s first direct French investment, via a secondary buyout backed by Charterhouse and CDC Participations. Terms of the deal were undisclosed, but Candover director Christopher Spencer said the investment in MC International performed extremely well, producing very satisfactory returns for investors’. Candover led the FFr300 million […]

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Cinven nets a double

20 years ago

Cinven scored two successful buyout exits in quick succession this summer, selling COMAX to Amey for GBP86 million and Corgi Classics to Zindart for GBP29 million. COMAX was formed through a GBP75 million buyout of the Defence Evaluation and Research Agency’s support services division in the spring of 1997, with Cinven investing around GBP30 million […]

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Apax hopes for repeat performance

20 years ago

3i achieved an IRR of just under 100 per cent on its investment in Thomson Directories, sold for GBP220 million this August to an Apax-led secondary buyout (see page 20). The sale, which realised nearly GBP100 million, represents 3i’s largest cash realisation of the past decade. 3i led the GBP80 million buyout of Thomson Directories […]

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People Moves: Standard Life swoops for McKellar

20 years ago

Peter McKellar, currently group finance director of The Donside Paper Company, is the latest recruit to Standard Life Investment’s expanding private equity team. McKellar’s pedigree leaves him peculiarly well equipped for his new role as investment director. Before joining Donside – a Morgan Grenfell Development Capital buy-in – last year, he was finance director of […]

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TH Lee Putnam tries Coates for size

20 years ago

Jeffrey Coates – a managing director at GE Equity, formerly GE Capital Equity Capital Group – and several other GE Equity executives have been hired away by Thomas H. Lee Co. and Putnam Investments to head up an Internet investment fund. The fund will be the first of many proposed funds to be managed by […]

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Mezzanine goes into battle with Private Equity

20 years ago

Until recently, the role of European mezzanine was very clearly defined it was the layer of financing in a buyout that sat between the debt and equity which would normally be provided by a specialist lender. But the experience of mezzanine lenders in the UK over the last year or so suggests that the rule […]

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