Global private equity and venture capital news and research

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23 June 2010

IGNIA Latin America fund closes on $102m

Mexican private equity firm IGNIA has closed its debut fund, that will target small businesses in Latin America, on $102m. IGNIA Fund I reached the close after seven rounds of fundraising, breaking initial targets of $50m to $75m, with the final round led by JP Morgan and a Corporacion Mexicana de Inversiones de Capitol fund of funds.

23 June 2010

UK’s PE firms weigh options in light of tax hike

The UK’s private equity firms may be weighing up their options after the emergency budget, announced yesterday, which included an instant raise in capital gains tax from 18 to 28 per cent.

23 June 2010

BASF beats out Lubrizol to pick up PE-owned Cognis

The private equity owners of German specialty additives company Cognis have reached a deal to sell the business to BASF, the world’s largest chemical maker.

23 June 2010

HgCapital approaches EIB for commitment to new renewables fund

UK private equity firm HgCapital is in talks with the European Investment Bank over a possible €50m commitment to a new €500m fund it is raising for the renewable energy space.

23 June 2010

Providence takes the lead in Study Group auction

Media and communications-focused private equity firm Providence has taken the lead in the bidding for Study Group, according to reports.

22 June 2010

Dubai International Capital seeks cash injection for Alliance Medical

Dubai International Capital, the investment arm of sovereign wealth fund Dubai Holdings, is in talks with lenders in a bid to secure a urgent cash injection for portfolio company Alliance Medical, to prevent the business breaching its debt covenants, according to reports.

22 June 2010

Carlyle files for $300m Booz Allen Hamilton IPO

Carlyle is planning a $300m initial public offering for shares of US government consulting business Booz Allen Hamilton and will pay down debt with the proceeds of the sale.

22 June 2010

Heinz acquires PE-backed Chinese soy sauce producer Foodstar

US condiment giant HJ Heinz is to pick up Chinese soy sauce producer Foodstar from Transpac Industrial Holdings, a private equity holding company, and various Transpac funds.

22 June 2010

3i portfolio business sells unit to Bureau Veritas for £450m

Inspicio, a substance testing company owned by UK listed private equity firm 3i, has sold part of its operations to trade buyer Bureau Veritas for £450m (€540.6m).

22 June 2010

Prudent Energy adds $10m to Series C round

Prudent Energy, a clean energy storage company that has offices in both North America and China, has added another $10m in venture capital funding to top off its oversubscribed Series C round.

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