Global private equity and venture capital news and research

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17 August 2010

Google buys VC-backed virtual currency start-up

Jambool, a venture-backed start-up that has created a platform which allows online games developers to monetise virtual currencies, has been picked up by search engine leader Google.

17 August 2010

PE expected to bid for outsourcing group Tribal

Tribal Group, a listed UK services provider to the public sector, has confirmed it has received preliminary expressions of interest for the business, though no-one has been named at this stage.

16 August 2010

Blackstone may set up Channel Islands REIT for Center Parcs sale

US private equity group Blackstone is considering the creation of a listed vehicle for the sale of the property used by its Center Parcs holiday park business in the UK to M&G Investments, according to the Financial Times.

16 August 2010

Carlyle to put Britax Childcare up for sale after receiving interest

Carlyle, the Washington DC-based private equity group, is to put children’s car safety seat maker Britax Childcare on the block after receiving several approaches from trade buyers and rival fund managers, according to the Financial Times.

16 August 2010

Scorn aimed at PE over workers’ woes at AA, Saga

Heavy losses for UK automotive services provider the AA and Saga, the travel agent, insurer and personal finance company for over 50s, have led to fierce criticism being fired at their private equity owners, according to the Guardian.

16 August 2010

BPE takes large stake in red-meat processor

Barclays Private Equity, the UK bank’s captive fund management house, has put up an undisclosed amount of capital for a majority stake in MPS Meat Processing Systems.

16 August 2010

Advent to strip German discount clothing retailer Takko from portfolio

Takko Fashion, a German discount clothing retailer, is set to be sold off by Advent International to either a buyer or in the public markets for around €1.25bn, according to the Financial Times.

13 August 2010

Telstra lines up Apax, General Atlantic for website sale if IPO fails

Telstra, Australia’s largest phone company, has said that if it does not manage to complete an initial public offering of Chinese real estate website SouFun it will sell its majority stake to two private equity firms.

13 August 2010

Carlyle sees Conway return to head global buy-outs

Carlyle’s buy-out division is set for a reshuffle as Daniel Akerson leaves to take up a post as CEO of stricken automobile company General Motors, according to reports.

13 August 2010

WTI closes latest venture debt fund on $294m

Western Technology Investment, a venture capital debt investor, has collected $294m for its latest debt fund in an oversubscribed fundraise, proferring the latest evidence of targets being lowered in a tepid market.

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