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US Wellspring closes Fund IV on $1bn
30/11/2005. New York-based private equity investment firm Wellspring Capital Management has closed its latest fund, Wellspring Capital Partners IV, on $1bn. Nearly 70 per cent of the capital raised came from limited partners who participated in the firm's previous funds, according to Wellspring. 
Baird Private Equity hires Scott Skie as chief administrative officer
30/11/2005. Baird Private Equity, the private equity group of Robert W. Baird & Co., has hired Scott Skie as chief administrative officer for Baird Capital Partners and Baird Venture Partners. In his new role Skie has financial, investor relations and administrative oversight responsibility.
Apax, Blackstone, KKR, Permira, Providence to make recommended offer for TDC
30/11/2005. Nordic Telephone Company - a newly formed company established by investment funds directly or indirectly advised or managed by Apax Partners Worldwide, Blackstone Group International, Kohlberg Kravis Roberts & Co., Permira Advisers KB and Providence Equity Partners - is to make a recommended offer for the Danish telecommunications provider TDC, valuing the company at DKK76bn (approximately €10.2bn).
Danske PEP III holds first close on €311m
30/11/2005. Nordic private equity funds of funds manager Danske Private Equity, part of the Danske Bank Group, has held a first closing on its latest private equity fund of funds, Danske Private Equity Partners III, on €311m.
General Atlantic to take minority interest in German NAVIGON
29/11/2005. International private equity group General Atlantic will become a minority investor in Germany-based navigation systems supplier NAVIGON. Peter Scheufen, chairman of the NAVIGON managing board, will continue to be the company's principal shareholder. Financial details of the transaction have not been disclosed.
SRG deal suits Gresham Private Equity
28/11/2005. Gresham backs the buy-out of British retailer The Speciality Retail Group, the owner of menswear chains such as Racing Green and Suits You.
CONTECH in $1bn private equity recapitalisation
28/11/2005. PE player Apax Partners has been lined up to buy-out the US civil engineering site solutions products company CONTECH Construction Products Inc.
Final close for Investcorp's latest venture capital fund
28/11/2005. Investcorp Technology Ventures has announced the final closing of Investcorp Technology Ventures II, L.P., with $300m in total committed capital. This figure includes a commitment of $8m from ITV’s own team. The fund's original target was $250m.
Euronext-quoted PE house Eurazeo takes a stake in Banca Leonardo
28/11/2005. French-headquartered Eurazeo wades into the Italian market to take a 20 per cent stake in investment bank Banca Leonardo.
Pensioenfonds Horeca & Catering develops its taste for private equity
28/11/2005. Netherlands-based pension fund Pensioenfonds Horeca & Catering has increased its exposure to the private equity asset class with two new funds-of-funds mandates.
Collins & Aikman Europe to go to WL Ross in $600m deal
28/11/2005. Distressed strategies private equity house WL Ross & Co. LLC is to acquire a large swathe of operations from the bankrupt auto-parts firm Collins & Aikman. Franklin Mutual Advisers LLC, and Lear Corporation also participated via their JVC, the International Auto Components Group.
Baker Tanks acquired by Lightyear Capital
28/11/2005. Lightyear Capital the US private equity firm with a focus on financial services, has announced that its Lightyear Fund has led the investor group acquiring Baker Tanks, a liquid and solid containment equipment rental and leasing services company.
First deal for Hicks Holdings
28/11/2005. Hicks Holdings, the new Dallas-based family office of Hicks, Muse, Tate & Furst co-founder Thomas O Hicks has done its first private equity deal, acquiring liquid crystal display manufacturer Ocular LCD.
Madison Private Equity exits Attias Textiles
28/11/2005. German-based Schmidt Group purchases a majority of shares in Swiss company Attias Textiles SA from PE player Madison.
French AtriA Capital Partenaires to sell ICM Group to Legrand
25/11/2005. French mid-market private equity firm AtriA Capital Partenaires has agreed to sell its investment in ICM Group, known for Cablofil - its global brand of wire mesh cable trays, to French electrical equipment manufacturer Legrand.
Nordic Capital buys Swedish wheelchair specialist Permobil
25/11/2005. Nordic Capital has acquired Timrå, Sweden-headquartered Permobil from the Swedish Foundation for Technical Aid for Disabled Persons and Handinter Gamma, owned by the sons of Permobil's founder Per Uddén and members of the corporate management.
Pan-European private equity firm CVC to take controlling interest in Formula One Group
25/11/2005. CVC Capital Partners has agreed to acquire a controlling stake in Formula One Group from Bayerische Landesbank and the Ecclestone family trust ('Bambino') through a new company, Alpha Prema. The purchase price has not been announced.
German buy-out firm DBAG launches fifth private equity fund
24/11/2005. German buy-out firm Deutsche Beteiligungs AG has launched its fifth private equity fund, the DBAG Fund V, with a €375m target.
Carlyle appoints Marco De Benedetti to MD to lead Italian buy-out activities
24/11/2005. US private equity giant The Carlyle Group has appointed Marco De Benedetti as managing director and head of the Italian buy-out team, based in Milan. The former CEO of Telecom Italia Mobile will become a member of the Investment Committee of Carlyle Europe Partners II, a €1.8bn fund. He will also be a member of the Global Telecom and Media group, which looks at assets on a global basis in the sector.
French Perfectis II closes above target on €122m
24/11/2005. French lower mid-market firm Perfectis Private Equity has closed Perfectis II on €122m. This was the first and final closing on the fund, which was launched in June 2005. The original target was €100m.
US Technology Crossover Ventures raises $1.4bn venture capital fund
22/11/2005. Palo Alto, California-headquartered Technology Crossover Ventures has closed its latest venture capital fund, TCV VI, on $1.4bn. Investors in the new fund include public and private pension funds from North America and Europe, university endowments, financial institutions, family offices and technology entrepreneurs.
UK Kleinwort Capital appoints Aatif Hassan as associate
22/11/2005. Kleinwort Capital, the UK lower mid-market specialist, has appointed Aatif Hassan as associate. He joins the firm from Close Brothers Corporate Finance.
Dirk Donath joins Eton Park Capital Management as managing director
22/11/2005. Dirk Donath has joined US firm Eton Park Capital Management as managing director. In his new role he will be responsible for the firm's private equity and illiquid investments in emerging markets.
3i hires Shaun Kingsbury as an industrialist-in-residence
22/11/2005. 3i has appointed Shaun Kingsbury as an industrialist-in-residence to broaden its energy profile into the midstream gas, power and renewables markets. Kingsbury has worked in this sector for 15 years, both in the UK and in the US.
US Greylock XII venture capital fund in $500m close
21/11/2005. Greylock Partners has announced the final close of its twelfth venture fund, the Greylock XII Limited Partnership, at $500m.
Eau Ecarlate goes to AXA Private Equity in LBO secondaries deal
21/11/2005. AXA Private Equity, along with a management team led by Pierre Le Tanneur, have signed a sale and purchase Agreement with Natexis Industrie and Barclays Private Equity for the acquisition of 100 per cent of French firm Eau Ecarlate.
Alto Capital II in €50m close
21/11/2005. The Milan-based private equity firm Alto Partners SGR has announced a close of Alto Capital II on €50m, with backing from 20 Italian LPs.
Blackstone and Lion Capital stalk Cadbury Schweppes plc in potential €1.85bn private equity deal
21/11/2005. The Blackstone Group and Lion Capital LLP have committed to acquire, as equal partners, the European Beverages division of Cadbury Schweppes plc in a transaction which values the business at €1.85bn.
Dr. Neuhaus Techno Nord launches €100m venture capital tech fund
18/11/2005. The European Investment Fund is signed up as an anchor investor for the new INCOM III. The ERP-EIF fund of funds has subscribed for a share of €30m in the new early stage technology fund INCOM III of Hamburg-based VC Dr. Neuhaus Techno Nord.
New venture fund for Claremont Creek
18/11/2005. Claremont Creek Ventures, a new investment firm with a focus on very early-stage IT and biotech start-ups, has announced it has closed its first fund with $130m in committed capital.
Private equity house Corsair Capital hires Thornburgh
18/11/2005. Corsair Capital has announced that Richard E. Thornburgh will join the firm as a partner in February of next year. Since 1993, the Corsair team has invested approximately $1bn in various financial institutions around the world, including banks, insurers, asset managers and specialty lenders.
The international real estate market gets a positive viewing from private equity funds
18/11/2005. Not only has the real estate private equity fund market had one of its best fundraising years ever in 2004, it is on track to repeat that feat in 2005, according to new research from Ernst & Young.
Partners Group bulks up in New York and London
18/11/2005. Fund of funds player Partners Group has expanded its London-based team and moved to larger premises, following growth in the firm's UK and Northern European client base. Similarly, growth in their New York team has also resulted in the office relocating to larger premises and expanding its staff to 12 people.
Bridgepoint gets lucky in secondaries with Moliflor Loisirs
18/11/2005. Moliflor Loisirs, France's third largest casino operator, has been acquired by Bridgepoint for an undisclosed sum in a buy-out from Legal & General Ventures and Royal Bank Equity Finance.
European IPO exits continue to tick over in Q3 2005
18/11/2005. Nine venture-backed European companies completed initial public offerings in 2005's third quarter—one more than occurred in the third quarter of 2004— according to VentureOne's European Liquidity and Valuation Report.
$325m close for Beecken Petty O'Keefe & Company's second private equity fund
18/11/2005.
Franco-Iberian private equity fund closes
18/11/2005. Espírito Santo Capital and Sigefi Private Equity have completed the closing of SES Iberian Fund I. The €50m fund was raised from 14 French, Portuguese and Spanish investors.
AXA Private Equity sells Tokheim to Electra Partners Europe for €250m
17/11/2005. European private equity investment firm AXA Private Equity, has sold Paris-headquartered Tokheim, a specialist in the production and service of petrol distribution systems, to Electra Partners Europe for €250m.
Finnish MB Funds to sell A-Inspection to Bridgepoint
17/11/2005. Helsinki-based private equity firm MB Funds is to sell A-Inspection, formerly Finnish Motor Vehicle Inspection, to Bridgepoint for an undisclosed amount. Following the transaction the management will continue as owners and in their current positions in the company.
East Capital to launch new fund for banking sector in Russia and CIS
17/11/2005. Eastern Europe-focused East Capital will launch the East Capital Explorer Financial Institutions Fund, a private equity fund with a focus on the banking sector in Russia and the CIS. The fund has a target size of €300-350m and is expected to have a life term of seven years, with a possible three-year extension.
French fund of funds manager AGF Private Equity holds second closing on €190m
17/11/2005. French fund of funds manager AGF Private Equity, a subsidiary of the AGF insurance company, member of the Allianz Group, has held a second closing of its latest fund of funds, AGF Private Equity Holding Europe IV, on €190m. The fund of funds is expected to close at the end of the year on its target size of €250m.
Canadian venture capital investment declines in Q3 following Q2 spike
16/11/2005. Venture capital investments in Canadian companies declined during Q3 2005 following a very active second quarter. Total venture investment in Q3 was down 59 per cent to Can$261m from the Can$635m invested in Q2 2005, according to market figures released by Canada's Venture Capital and Private Equity Association and its research partner Thomson Macdonald.
Pan-European Palamon Capital Partners expands investment team
16/11/2005. Pan-European mid-market private equity firm Palamon Capital Partners has expanded its investment team with the appointment of Jean Bonnavion as a vice president. A key part of Bonnavion's new role will be to strengthen the firm's capabilities in France.
Amount of capital invested in European companies up on quarter, down on year
15/11/2005. Venture capitalists invested €798.2m into European companies in the third quarter of 2005 - this represents a slight increase over the €790.3m invested in the second quarter of this year but a six per cent decrease from the third quarter of 2004 when €848.1 were invested, according to the European Venture Capital Report released by Ernst & Young and Dow Jones VentureOne.
US Granite Global Ventures appoints Jixun Foo to strengthen position in China
15/11/2005. US expansion stage venture capital firm Granite Global Ventures has appointed Jixun Foo as managing director, based in the firm's Shanghai office. He will focus on investments in China.
General Atlantic hires former UBS managing director Paul R Rai in India
15/11/2005. General Atlantic has appointed Raul R Rai as a principal based in the firm's Mumbai office. Prior to joining General Atlantic, Rai had been managing director and global co-head of software technology investment banking at UBS Investment Bank.
Energy Investors Funds appoints Keith Derman and Shawn Saint
15/11/2005. Energy Investors Funds, a private equity fund manager that invests in the US energy and electric power sector, has appointed Keith Derman and Shawn Saint as senior associates.
Troika Dialog, Temasek launch new private equity fund for Russia and CIS
15/11/2005. Russian investment bank Troika Dialog and Temasek Holdings, an Asia investment company headquartered in Singapore, have agreed on a joint venture to co-sponsor a new mid-cap private equity fund targeting Russia and the Commonwealth of Independent States. The new fund, called the Russia New Growth Fund, will start with capital commitments of $150m. The fund is expected to close in 2006. A target size has not been announced yet.
Silver Lake Partners to acquire Serena Software in $1.2bn transaction
14/11/2005. Technology-focussed US private equity firm Silver Lake Partners has agreed to acquire San Mateo, California- headquartered Serena Software in a transaction valued at approximately $1.2bn. Under the terms of the agreement, Serena stockholders will receive $24 in cash in exchange for each share of stock.
KKR to acquire FL Selenia from Vestar Capital Partners in €835m deal
14/11/2005. US buy-out giant Kohlberg Kravis Roberts & Co. has agreed to acquire Italy-based FL Selenia from Vestar Capital Partners in a transaction valued in excess of €835m. Selenia is KKR's first acquisition in Italy.
Amount of capital raised by Israeli high-tech companies down on quarter and year
14/11/2005. A total of 90 Israeli high-tech companies raised $336m from local and foreign venture investors in the third quarter of this year. The amount was down 13 per cent from the $387m raised by 98 companies in the previous quarter and down 23 per cent from the $438m raised by 113 companies in the third quarter of 2004, according to the latest figures from the Quarterly Survey conducted by the IVC Research Center.
BancBoston Capital sells stake in Norway's Kongsberg Automotive
14/11/2005. BancBoston Capital has sold the majority of its stake in automotive components manufacturer Kongsberg Automotive, which listed on the Oslo exchange in June 2005, achieving a return of over 7x its investment.
Axcel to sell Danish Kwintet to Industri Kapital
11/11/2005. A group of investors led by Danish buy-out firm Axcel and including LD and Wenaas Holding is to sell Odense, Denmark-headquartered Kwintet to Industri Kapital, the European private equity firm with Nordic roots. The value of the transaction has not been disclosed officially but the Danish newspaper Jyllands-Posten reported a value of around €400m. Axcel and co-investors invested in Kwintet in 1999.
RLPE principals increase shareholdings and rename firm RJD Partners
11/11/2005. UK mid-market firm Royal London Private Equity is being renamed RJD Partners to reflect the forthcoming change in ownership. The firm's four principals are increasing their shareholdings from an undisclosed percentage to 85 per cent, with The Royal London Mutual Insurance Society retaining a 15 per cent shareholding in the business.
Versant Ventures closes $400m fund
11/11/2005. Healthcare venture capital firm Versant Ventures has closed Versant Venture Capital III, a $400m fund focused on investing in early stage healthcare companies.
European Candover raises €3.5bn for 2005 Fund
10/11/2005. European buy-out specialist Candover has held a final closing of the Candover 2005 Fund with total commitments of €3.5bn. The original target was €3bn. The fund, which was raised in just over six months, was significantly oversubscribed beyond the hard cap of €3.5bn, Candover said in a statement.
US Portfolio Advisors closes third fund of funds on $661m
10/11/2005. US firm Portfolio Advisors has closed its third fund of funds, Portfolio Advisors Private Equity Fund III, on $661m. The fund was launched in June 2004 with a target of $250m.
CGS sells Bourdon-Haenni to Baumer Group
10/11/2005. Swiss Pfäffikon-based buy-out specialist CGS Management has sold its investment in European process instrumentation specialist Bourdon-Haenni to Switzerland-based Baumer Group.
Norway's Reiten & Co closes Reiten & Co Capital Partners VI on €125m
10/11/2005. Oslo-based mid-market private equity investor Reiten & Co has closed its latest fund, Reiten & Co Capital Partners VI, on €125m. The interim closing was on €50m at the end of 2004. The fund's focus will be on investments in the range of €10-40m in equity in companies with revenues of up to approximately €150m.
Nordic Capital to sell Ahlsell to Cinven and Goldman Sachs Capital Partners
09/11/2005. Nordic Capital funds have agreed to sell Ahlsell, a Nordic distributor of installation-related products, to an entity jointly controlled by Cinven and Goldman Sachs Capital Partners. Financial details of the transaction have not been disclosed officially but according to the Financial Times, the deal is worth about €1.4bn.
Cipio Partners appoints Christoph Wedegaertner, David Mes
09/11/2005. Cipio Partners has appointed Christoph Wedegaertner and David Mes as associates in the firm's Munich and Silicon Valley offices.
US Golden Gate Capital to acquire Geac Computer Corporation for $1bn
08/11/2005. San Francisco-based private equity investment firm Golden Gate Capital has agreed to acquire enterprise software company Geac Computer Corporation in an all-cash transaction valued at $11.10 per share or approximately $1bn.
Four Seasons Venture V closes on SEK1bn
08/11/2005. Nordic venture capital firm Four Seasons Venture has closed its latest fund, Four Seasons Venture V, on more than SEK1bn (about €105m). The fund was oversubscribed, the firm said in a statement.
Trident Private Equity Fund II closes on £64m
07/11/2005. London-based JOHCM Private Equity, the private equity arm of J O Hambro Capital Management Group, has closed its latest private equity fund, Trident Private Equity Fund II, on £64m.
Actis invests in Congolese company Banro Corporation
07/11/2005. In its first investment in the Democratic Republic of the Congo, emerging markets private equity investor Actis has invested US$11.1m in Banro Corporation. Banro is a junior gold exploration company focused on the development of four advanced-stage gold projects along the 210 kilometre-long Twangiza-Namoya gold belt in the South Kivu and Maniema provinces of the Democratic Republic of the Congo.
American Capital Strategies appoints former Acting Secretary of the US army Brownlee
07/11/2005. American Capital Strategies has appointed Les Brownlee, former Acting Secretary of the US army, as an advisor to firm with a mandate to identify investment opportunities in the federal contracting market and to work in support of those investments.
Bridgepoint to sell share in Really Useful Theatres to Andrew Lloyd Webber
07/11/2005. Pan-European private equity firm Bridgepoint has agreed to sell its 50 per cent share in Really Useful Theatres to Andrew Lloyd Webber for an undisclosed amount.
Energy Investors Funds closes sixth fund on $750m
07/11/2005. Energy Investors Funds, a private equity fund manager that invests in the US energy and electric power sector, has closed its sixth institutional fund, the United States Power Fund II, with $750m in commitments. The original target was $500m.
Nordic private equity firm CapMan announces management changes
04/11/2005. Jerome Bouix has been appointed as a member of CapMan's Management Group. Bouix is responsible for fundraising, investor relations and communications.
Elevation Partners invests in BioWare/Pandemic Studios
04/11/2005. Elevation Partners, the newly formed private equity firm with US lead singer Bono as one of its partners, has invested in Pandemic Studios and BioWare Corp. The two game developers will work in partnership in the future. The investment, including future capital needs, will be worth more than $300m, Elevation said in a statement. This is the firm's first deal.
PNC Mezzanine Capital closes $350m fund
04/11/2005. PNC Mezzanine Capital, part of The PNC Financial Services Group, has held a first and final closing on PNC Mezzanine Partners III with aggregate capital commitments of $350m. The original target was $300m.
Warner Howard exit generates 2.8x for Barclays Private Equity
03/11/2005. European mid-market private equity firm Barclays Private Equity has sold its stake in Warner Howard to workplace services provider PHS Group. Barclays Private Equity backed the £57m management buy-in of Warner Howard in December 2000. Gresham subsequently took a syndication in the deal.
US Castle Harlan hires Gary Appel as vice chairman
03/11/2005. New York-based private equity investment firm Castle Harlan has appointed Gary Appel to the position of vice chairman of the firm.
US venture capital short-term performance improves in Q2 2005 compared to Q1
03/11/2005. Short-term US venture capital performance showed signs of improvement at the close of the second quarter of 2005 compared to the close of the first quarter, with increases in the one and three-year investment horizons, according to Thomson Venture Economics and the National Venture Capital Association.
US venture capital firms raise larger funds in 2005
02/11/2005. This year has seen the size of US venture capital funds grow considerably, compared to 2004, according to a recent survey by VentureOne, which contains the results of the first three quarters of 2005.
3i sells minority stake in William Wilson to Wolseley in £81m deal
01/11/2005. 3i has sold its minority stake in William Wilson, a UK supplier of electrical, plumbing, heating and building products, to Wolseley in an £81m deal.
HgCapital acquires German Schenck MPT from Dürr
01/11/2005. HgCapital, the European sector-focused private equity investor, has agreed to acquire Germany-based Schenck Measuring and Process Technologies from Dürr, a supplier of production systems and modules and components for measuring and process systems. The transaction values the company at €205m.
The Sterling Group hires Francis Carr
01/11/2005. Houston-based private equity firm The Sterling Group has appointed Francis T Carr as a senior associate. Carr will evaluate investment opportunities and monitor and advise portfolio companies.
US Quadrangle Group appoints Gordon Holmes as managing principal
01/11/2005. New York City-based Quadrangle Group has hired Gordon A Holmes as a managing principal. He will be joining the private equity team of Quadrangle Capital Partners, which invests in companies across the media and telecommunications industries.
Austin Ventures names former Nokia president Kari-Pekka Wilska venture partner
01/11/2005. US Austin Ventures has appointed Kari-Pekka 'K-P' Wilska, a cellular industry pioneer, as a venture partner. Wilska will be based in Dallas, Texas and evaluate potential deals throughout the US and internationally.
24/11/2005.
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