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Apax to buy Azelis

3i has agreed to sell Atlas Holding SA, the holding company of the Azelis Group, to Apax Partners. Financial terms weren’t announced. Azelis is a pan-European speciality chemical distributor. 3i acquired a majority of Azelis in 2007. JP Morgan is providing financing. UBS acted as financial advisor to the Apax funds while Greenhill acted as financial advisor to 3i.

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3i completes Q Holding acquisition from IGP

Industrial Growth Partners has sold Q Holding Company to 3i. No financial terms were disclosed. Based in Twinsburg, Ohio, Q is a maker of precision molded rubber and silicone components.

KKR confirms hiring of 3i’s head of Spain

Kohlberg Kravis Roberts has officially announced the appointment of Alejo Vidal-Quadras as director based in the firm’s Madrid office. Vidal-Quadras will be responsible for developing and supporting KKR’s investment platforms in Spain. Vidal-Quadras joins the firm from 3i, where he worked as head of 3i Spain. KKR’s announcement confirms an earlier report from peHUB.

First Read
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peHUB First Read

This morning First Read brings you links to the most consistent performing private equity fund managers of 2014, how early stage 2012 vintage is doing, CalPERS big movers in 2013 and a look at market and regulatory developments in the US versus Europe.

First Read
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peHUB First Read

This Tuesday morning First Read brings you news of Blackstone’s great Hilton gain and its Patria fund surpassing target, how familiarity breeds in the alternative investment world, Nevada’s venture bets and Illinois State Board of Investment recruitment.

3i closes 525 mln euros for CLO fund

3i Group has raised 525 million euros in the final close of its CLO fund Harvest IX. According to the firm, the fund is the first loan-only Volcker compliant CLO issued in Europe.

3i mulls sale, IPO for Finnish telecom unit – Reuters

3i is considering a sale or initial public offering of its Finish telecommunication unit, Eltel Networks, in a deal that may value it about 1 billion euros ($1.4 billion) including debt, Bloomberg reported, writes Reuters. Morgan Stanley and French bank BNP Paribas SA were advising on the sale, according to reports.

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