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Larger Venture Spawn Bigger Deals as US Boom Continues

20 years ago

Money flooded at an unprecedented rate into US venture capital funds during 1998 while, armed with more money to invest than ever before, venture capitalists increasingly turned to larger investments in later-stage companies. Venture capital groups raised $24.34 billion in 200 funds last year, according to figures released by Venture Economics Information Services, a Securities […]

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JP Morgan Launches Family of PE Funds

20 years ago

JP Morgan Securities, which has been shifting its business from commercial to investment banking, in January launched the first in a series of private equity funds. Tentatively named JP Morgan Latin American Capital Partners, the vehicle has a $1 billion (euro 890 million) target and will receive a significant commitment from the firm, said Monty […]

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ProVen Broadens Focus To Exploit Healthcare Niche

20 years ago

Venture funds focusing on the Mid-Western US are few and far between, in stark contrast to the concentration of capital targeting early-stage technology businesses on the East and West coasts. Prompted by the relative dearth of funding sources in the Mid-West, together with the thriving healthcare sector in the region, ProVen Private Equity of the […]

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Pomona Closes Fund IV, Eyes European Secondaries

20 years ago

US-based secondaries specialist Pomona Capital in mid-January closed Pomona Capital IV on $203 million (euro 180 million) and announced the establishment of a European office in London. Since its launch in 1994 with funds of $45 million, Pomona Capital has grown its capital under management tenfold. The group’s primary focus is the purchase of interests […]

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H&Q Asia Pacific Raises New Fund

20 years ago

H&Q Asia Pacific is raising a $750 million (euro 670 million) private equity fund mostly geared towards buying controlling positions in companies, with the remainder focused on more conventional venture capital investments in the region. H&Q Asia Pacific Growth Fund III LP will initially invest in the depressed economies of Thailand and South Korea, eventually […]

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CVC Plans Asian Buyout Fund

20 years ago

CVC Capital Partners is likely to launch a private equity fund for Asia in the second quarter of the year. The firm has not yet set a definite target for the vehicle, but chairman Michael Smith said “if the fund goes ahead, it will be in the $750 million (euro 670 million) range, or possibly […]

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KKR Launches $2 Billion Europe Fund

20 years ago

Kohlberg, Kravis Roberts & Co (KKR) in January launched a European fund with a target of $2 billion (euro 1.8 billion) and a cap of $3 billion. If it reaches its maximum size, the fund would rank alongside the $3.1 billion CVC European Equity Partners II as the largest buyout pool in Europe. Therefore KKR […]

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5E Makes Rapid Progress, Mulls Capital Increase

20 years ago

5E Holding, the quoted fund-of-funds specialising in Central and Eastern Europe that Vontobel Group launched in 1998 (EVCJ August/September 1998, page 5), committed a total of CHFr 72.9 million to four new funds before the year end. Vontobel Group originally hoped to raise between CHFr 250 million and CHFr 350 million (euro 155 million-euro 220 […]

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Spring Will Be First True Polish Independent

20 years ago

Two former members of Renaissance Capital’s Polish investment team have formed Spring, an independent venture management group that is currently in the market with a $55 million (euro 50 million) Poland fund, Spring Capital. If Spring reaches a successful closing, it will be the first Polish fund raised by an independent local team without a […]

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Geocapital’s Debut EuroFund Beats Target

20 years ago

Geocapital Partners’ first dedicated European Fund exceeded its original $50 million (euro 45 million) target by $3.7 million at its first close last December. The vehicle, which will focus on small, established European computer software and information service companies, will hold a final close on a maximum of $70 million to $75 million in the […]

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DLJ Phoenix Private Equity Eyes European Opportunities

20 years ago

London-based DLJ Phoenix Private Equity is staffing up to develop its business in Continental Europe on the back of its established UK franchise. Senior executives Stefano Bonfiglio and Gregorio Napoleone in January relocated to DLJ Phoenix from Donaldson Lufkin & Jenrette Inc. in New York. The pair, who previously worked together at Bankers Trust, have […]

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Halder Fund IV Enjoys Strong Deal Flow

20 years ago

Halder Holdings of the Netherlands has not let the grass grow under its feet since closing its fourth LP fund on DFl 253 million (euro 115 million) in the second half of 1998. Approximately 30% of Halder Investments IV has been deployed to date in five buyouts and two replacement capital investments in the Netherlands, […]

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PPM Ventures Establishes Continental Presence

20 years ago

By the beginning of March, PPM Ventures will be open for business at 95, Champs-Elysees. Although Prudential’s private equity arm has already completed a number of Continental deals, including Finnish Chemicals, Roventa-Hentex in Switzerland, Suspa Compart in Germany and, most recently, Orefi in France, the new Paris office represents its first direct presence in mainland […]

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Esprit’s Founder Creates Paradigm Ventures

20 years ago

At its official launch on 1 March, Paradigm Ventures, the brainchild of Esprit Telecom founder Michael Potter, will have $100 million (euro 90 million) available to invest in European fast growth high-tech ventures, thanks to what must surely have been one of the shortest offer periods on record. Formal fund raising for Paradigm, kicked off […]

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Granville’s UK/German Fund On Track with GBP110 Million

20 years ago

Granville Private Equity Managers (GPEM) at press time was finalising a GBP110 million (euro 160 million) first close for its sixth fund, GPEM VI. Launched in October 1998 with a target of GBP200 million and a maximum size of GBP250 million, GPEM VI is the private equity mid-market specialist’s largest offering to date and comprises […]

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French Bank Merger Allies Rival LBO Arms

20 years ago

Societe Generale, France’s largest listed bank, in early February launched an agreed takeover bid for Paribas that valued it at euro 15 billion. SG Paribas, as the new group will be known following completion of the merger in March, will rank as Europe’s eighth largest bank, with a market capitalisation of more than euro 30 […]

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Deutsche European Partners Seeks euro 1.6 Billion

20 years ago

Deutsche Bank’s private equity arm, Morgan Grenfell Private Equity (MGPE), has set a euro 1.6 billion target for Deutsche European Partners IV. Formal fund raising for the vehicle will begin on 1 February. MGPE describes Deutsche European Partners IV as a pan-European buyout fund with a focus on the UK, Germany and Italy. Like many […]

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Will Create PE Colossus

20 years ago

ABP, the Dutch civil servants’ pension fund, and PGGM, the Netherlands’ health and welfare workers’ pension fund, in late December announced plans to acquire De Nationale Investeringsbank (NIB), the Dutch state-controlled investment bank in a DFl 4.1 billion (euro 1.9 billion) bid. The two pension funds, which already own 4% of NIB, are expected to […]

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