Global private equity and venture capital news and research

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4 June 2010

HSBC discusses possible sale of five PE units

British bank HSBC is in talks concerning the sale of various in-house private equity units to their respective management teams, with five separate spin-outs likely to go ahead should all parties meet in the middle.

4 June 2010

EQT wins Academedia auction

EQT has won the bidding for Swedish education company Academedia. EQT beat out other private equity competitors, including Providence Equity Partners, for the company, which is Sweden’s largest education company.

4 June 2010

GM to drive innovation with new $100m VC fund

General Motors, one of the best-known and biggest US automobile manufacturers in the industry, has decided to play venture capitalist with a new subsidiary designed to help it identify and develop innovative technologies to adopt for its own vehicles.

4 June 2010

KKR’s environmental measures save $160m

A scheme run by Kohlberg Kravis Roberts & Co and the Environmental Defense Fund (EDF) to improve the financial and environmental performance of the US private equity firm’s portfolio companies has achieved $160m in savings after two years of operation.

4 June 2010

Blackstone nears sale of UK Center Parcs sites

US buy-out major Blackstone is offloading the property used by its Center Parcs holiday park business in the UK for around £1bn (€1.2bn), but will hang onto the operating company that runs the sites, according to the Financial Times.

4 June 2010

Graphite inks £100m London housing developer deal

UK mid-market private equity group Graphite Capital has cemented a half debt, half equity investment of £100m (€120.1m) in new residential housing developer London Square.

4 June 2010

HgCapital calls on CPS Partners for £160m telecoms acquisition

UK private equity house HgCapital has acquired the lion’s share of Manx
Telecom, the largest telecommunications and internet provider in the Isle of Man, for £158.8m (€191m).

3 June 2010

CDC commits $50m to sub-Saharan sustainable forestry fund

UK government owned developmental fund of funds CDC has committed $50m as a cornerstone investor to the first private equity fund to focus exclusively on sustainable forestry in sub-Saharan Africa.

3 June 2010

LitCapital teams up with EIF to support Lithuanian SMEs

LitCapital is lining up a new fund that will invest €20m in Lithuanian small and medium enterprises. The risk capital fund is the third and final equity instrument to be implemented by the European Investment Fund (EIF) through the JEREMIE Holding Fund initiative in Lithuania.

3 June 2010

Providence seeks $1bn-plus for broadband company Bresnan

US firm Providence Equity Partners is looking to sell broadband provider Bresnan Communications for over $1bn including debt, according to Bloomberg.

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