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HEV Launches Mezzanine Fund for the Nordic Markets

22 years ago

Hard on the heels of the GBP261 million (ecu 393 million) closing of the HEV III fund-raising exercise (EVCJ October/November 1997, page 8), HEV is launching its first mezzanine fund, which will focus on the Nordic region. HEV, formerly Hambro European Ventures, aims to raise ecu 100 million for the Nordic Mezzanine Fund, with the […]

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KfW and Allied Capital Form Joint Venture Fund

22 years ago

Germany’s state-owned development bank Kreditanstalt fur Wiederaufbau (KfW) has linked with Allied Capital Corp of the US to launch a joint venture fund. The DM160 million (ecu 96 million) Allied Capital Germany Fund is aimed at businesses with capitalisations ranging from $15-120 million (ecu 14-110 million), with a particular focus on privatisations and spin-offs from […]

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NVP Survey Shows Steady But Lacklustre Returns

22 years ago

The NVP’s fifth study on the performance of private equity in the Netherlands, holds few surprises. Gross returns on realised investments over the period from 1987 to 1996, at 13%, were identical with results for the ten years to end 1995 (EVCJ December 1996/January 1997, page 13), according to the latest figures released by the […]

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Natexis Reshapes Private Equity Arm

22 years ago

Natexis Groupe, the product of last year’s merger between BFCE and Credit National, has completed the rearrangement of the combined group’s private equity investment units. Shareholders in Financiere Saint Dominique, Credit National’s private equity arm, agreed its change of name to Financiere Natexis in December. This new entity comprises a lead unit, Financere Natexis, which […]

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BankAmerica Broadens European Scope

22 years ago

BankAmerica, which manages $2.5 billion (ecu 2.3 billion) of private equity commitments through its Global Private Equity division, is strengthening its European presence. Towards the end of last year, BankAmerica Global Private Equity opened a London office, which will operate in tandem with the Warsaw office that was established in the summer of 1996. Managing […]

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Carlyle Sets Sights on Europe with $1 Billion Effort

22 years ago

The Carlyle Group, a prominent US private equity group based in Washington DC, is poised for a determined onslaught on the European market. After establishing offices in London, Paris, Munich and Milan during 1997, it held a $500 million (ecu 460 million) closing in December for Carlyle European Capital Partners, its first European fund. Carlyle […]

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Granville and Hamilton Lane Cease Talks

22 years ago

Granville Private Equity Funds (GPEF), Granville Private Equity’s international fund management and advisory business, and Hamilton Lane Advisors, the US fund advisory group have confirmed that they have decided not to proceed further with a joint venture which would have given Granville a minority holding in an international advisory business. It was reported in December […]

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Bain Ups the Ante With 30% Carry

22 years ago

The proposed terms for Bain Capital’s sixth buyout fund are raising eyebrows among US institutions. Offer documents for Bain Capital Fund VI, which is targeting $700-800 million (ecu 645-740 million) will feature an unprecedented 30% GP carry. Bain will market the main vehicle in conjunction with a $300 million “standby fund”, featuring a conventional 20% […]

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Watching, Waiting On the Asian Markets

22 years ago

If it involves private equity investing in East Asia, Peter Brooke, chairman of Advent International, would rather wait until the dust settles. Advent, an investor in the region since 1983, expects to face limited losses from the ongoing financial crisis in the region, largely because its portfolio companies have almost no external debt, except to […]

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Hicks Muse To Target Latin American Media

22 years ago

In January, Hicks, Muse, Tate & Furst finalised an agreement with Cisneros Group of Companies, a Venezuelan international media and telecommunications group, to form a $500 million (ecu 460 million) buyout fund focusing primarily on Latin America. Ibero-American Media Partners, to be based in Miami, will acquire and develop strategic alliances with media concerns in […]

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HSBC Raises $525 Million Asia Fund

22 years ago

The HSBC Group’s new Asian fund, HSBC Private Equity Fund 2, closed in January on $525 million (ecu 485 million), just over its original half-billion-dollar target. US institutions stumped up three quarters of this total, with the balance spread between Asian, Australian, European and Middle Eastern investors. US participants named by David Conrod, director of […]

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H&Q Links Up with Tamir Fishman

22 years ago

In late January, Hambrecht & Quist of the US announced a strategic co-operation agreement with Tamir Fishman & Co, a Tel Aviv based investment banking group. Tamir Fishman will act as H&Q’s exclusive representative in the Israeli technology, biotech, healthcare, consumer and other growth sectors. The two groups are co-sponsoring a recently launched venture which […]

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Pantheon Adds To Secondaries Holdings

22 years ago

Pantheon International Participationa (PIP), the private equity investment trust managed by Pantheon Ventures, in January announced the acquisition of new secondaries holdings valued at GBP13 million (ecu 20 million). PIP acquired units in one Japanese and one international private equity fund, plus a portfolio of twelve fund holdings with a predominantly European focus from three […]

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European Private Equity Performance Continues To Show Strong Results

22 years ago

The tremendous interest in European and UK private equity is predicated on the preferred returns that are supposed to accrue to private equity investment. Venture Economics has just published the newest volume in its Investment Benchmark Report series on private equity performance. Venture Economics has recently released a report on private equity performance on US […]

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Corporate Venturing in Germany: A Viable Alternative to Conventional Private Equity

22 years ago

The German management consultancy group Mackewicz & Partner recently concluded a second study on venture capital. In an earlier study, Equity Partnerships in the Medium-sized Capital Goods Industry In Germany, Mackewicz & Partner showed that the German development finance market had not yet reached a stage of maturity sufficient to prevent German medium-sized enterprises falling […]

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Cinven Grabs Headlines with GBP860 Million IPC Buy

22 years ago

Cinven kicked off 1998 in fine style, exchanging contracts for the GBP860 million (ecu 1.3 billion) buyout of the IPC magazine group from Reed Elsevier during the first week of January, following intensive – and exclusive – negotiations during the Christmas and New Year period. The price Cinven paid was towards the upper end of […]

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CVC Buys Hoechst Sausage Casings Business

22 years ago

The buyout of the German sausage-casings manufacturer Kalle Nalo from Hoechst for an undisclosed sum was announced at the end of October. CVC Capital Partners led the deal, acquiring a majority stake in the DM320 million (ecu 162 million) turnover company. Viscose- and polymer-based sausage casings account for 80% of Kalle Nalo’s sales. The group, […]

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Granville Closes Maiden German Deal

22 years ago

In its debut German deal, Granville acquired Elmeg GmbH Kommunikationstechnik, GermanyOs leading manufacturer of small ISDN telephone exchanges and line testing equipment, from its family founders for an undisclosed sum. The December announcement of the financial purchase coincided with the opening of its Frankfurt joint venture with Steffens Alvano & Partner, Granville Private Equity Deutschland […]

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