CVC, Singapore’s GIC to cut stake in HKBN listing-Reuters

HKBN Ltd, the second-largest broadband Internet provider in Hong Kong, filed late on Friday for an initial public offering, with shareholders including private equity firm CVC Capital Partners Ltd set to cut their stakes as part of the deal, Reuters reported.

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CVC buys Finnish insulation firm Paroc

CVC Capital Partners has acquired Paroc Group for about 700 million euros. Based in Helsinki, Paroc is a maker of stone wool insulation in the Nordic and Baltic regions.

lacounty

LACERA to focus on ‘top tier’ venture funds

From the looks of it, the Los Angeles County Employees Retirement Association could be one of the busiest limited partners in the industry this year, with the potential to commit up to $1.8 billion. Its investment focus will include building exposure to smaller buyout managers, as well as ‘top tier’ venture funds.

Reuters – Indonesia IPO Train Derails

The spark that Matahari Department Store‘s $1.3 billion deal was meant to provide Indonesia’s IPO market has turned into a dud, writes Reuters. Bankers and issuers were anticipating a record $4.1 billion worth of initial public offerings in 2013, including $2.5 billion in the first half of the year, writes Reuters. The Matahari deal in March – in which private equity firm CVC Capital sold down its stake in Indonesia’s biggest stock sale since 2011 – was seen as a stage setter, writes Reuters.

OregonCoast

Oregon Pledge Sets Stage For Close of KKR Flagship Fund

With a $250 million follow-up commitment from the Oregon Investment Council, Kohlberg Kravis Roberts & Co’s latest flagship fund is within reach of its $8 billion target, a fundraising goal the firm started pursuing nearly two and a half years ago, according to Buyouts, peHUB’s sister magazine…

Chairman of CVC Capital to Step Down in January

CVC Capital Partners, the London-based private equity firm, has announced that its chairman, Michael Smith, will retire in January. Smith will be succeeded by Donald Mackenzie, Rolly van Rappard and Steve Koltes, who will act as co-chairmen of the group.

Reuters – CVC Sells $1.6bn Stake in Formula One

Private equity firm CVC Capital has sold a $1.6 billion stake in Formula One to three investors including BlackRock ahead of the motor racing company’s planned $3 billion initial public offering in Singapore, writes Reuters. The pre-IPO deal cuts CVC’s stake in Formula One to about 40 percent from 63.4 percent. The two other investors […]

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