Global private equity and venture capital news and research

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13 August 2010

German cable TV firm Pepcom switches sponsors

Private equity media specialists GMT Communications Partners and Veronis Suhler Stevenson have sold their investment in Pepcom, Germany’s sixth largest TV cable company, for an undisclosed sum.

13 August 2010

Blackstone powers up for $4.7bn Dynegy take-private

Blackstone’s latest foray into the energy sector sees the world’s biggest private equity firm buy New York Stock Exchange-listed Dynegy Inc for $543m in cash, in a deal valued at $4.7bn including debt.

13 August 2010

PE performance comparable to public equity investing

Proponents of the asset class argue that private equity offers attractive returns when compared to investment in its counterpart of publicly traded equity, but a new report claims that, on average, buy-out funds have performed to the same standard.

12 August 2010

Former UK government minister Lord Davies joins Corsair Capital

Mervyn Davies, the ex-head of Standard Chartered bank who was last year appointed as Trade Minister by then Prime Minister Gordon Brown, has been hired by Corsair Capital, the financial services-focused buy-out firm that used to be part of JP Morgan.

12 August 2010

Macquarie India infra fund invests $300m in Viom Networks

Macquarie SBI Infrastructure Fund (MSIF), a joint venture between Australian investment bank Macquarie and the State Bank of India, has acquired an 11 per cent stake in mobile tower firm Viom Networks for INR14bn ($298.9m).

12 August 2010

Euro LBO companies’ EBITDA lagged behind projections in 2009

A majority of European companies acquired through leveraged buy-outs slipped further behind their private equity owners’ original projections for sales and EBITDA in 2009, according to new data from Standard & Poor's.

12 August 2010

Fortress takes 80 per cent of AIG’s retail credit arm

US private equity and hedge fund firm Fortress Investment Group has taken an 80 per cent share of American General Finance, the consumer credit arm of bailed out insurance giant AIG, for a steep discount, as its parent continues to undergo a major restructure.

11 August 2010

KKR plans to raise next buy-out fund in next few quarters

KKR plans to start raising its next flagship buy-out fund in the next few quarters, according to Reuters.

11 August 2010

First Pacific-specific PE fund lands final exit with sale of helicopter business

Pioneering private equity vehicle the Kula Fund, the first to invest specifically in the Pacific islands, has landed its final exit with the sale of Papua New Guinean helicopter support service provider Heli Niugini.

11 August 2010

CVC’s €25bn Abertis LBO scales down to minority stake trade

Conjecture over one of most hotly anticipated European infrastructure deals has come to an end, as CVC Capital Partners has reached an agreement with Barcelona’s Abertis over a minority stake sale.

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