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C Kenneth Ewell joins WMG
29/06/2007. Waterstone Management Group has added C Kenneth Ewell as a partner. Ewell brings a track record in the development and implementation of business and operational strategies in telecommunications and other technology-oriented industries. 
AIM floatation puts YFM in the money
29/06/2007. Following the floatation of Pressure Technologies plc on AIM, YFM Venture Finance will return eight and a half times their money to investors. Two funds, the Development Fund at South Yorkshire Investment Fund and the Yorkshire and Humber Equity Fund, both managed by YFM, will see a return of 125 per cent IRR.
Innogest SGR raises a 80m VC fund
29/06/2007. Led by managing partners Claudio Giuliano, formerly at the Carlyle Group, and Marco Pinciroli, formerly at BC Partners, Innogest Capital, an Italian seed and early stage fund, has raised 80m, with an original target of 60m.
Carlyle Group and Onex pick up Allison Transmission from GM
29/06/2007. General Motors has reached an agreement for the company to sell on its Allison Transmission commercial and military business to The Carlyle Group and Onex Corporation for approximately $5.6bn.
Kauffman Fellow Jay Boddu hired by Sofinnova Ventures
28/06/2007. Sofinnova Ventures, a venture capital firm specialising in early-stage life science and information technology investments, has announced that Jay Boddu is to join the company's IT team. Jay will hold the role of Kauffman Venture Fellow. Working along side his IT team members, Jay will focus on infrastructure deals leveraging Sofinnova Ventures' practice in the wireless sector and deep corporate spin-off segment.
Greenbriar raises Fund II on $1bn
28/06/2007. US-based Greenbriar Equity Group, a private equity firm focused on making investments in transportation and transportation-related companies, has completed the final closing of their Greenbriar Equity Fund II, L.P.
CAM and Fairview team up
28/06/2007. Fund-of-funds Fairview Capital Partners (USA) and CAM Private Equity (Germany) have entered into a joint venture.
RREEF to ride Terra Firma's Autobahn
28/06/2007. PE house Terra Firma and RREEF, the global alternative investment management business of Deutsche Bank's Asset Management division, has announced an agreement under which RREEF Infrastructure will acquire around 50 per cent of Autobahn Tank and Rast Holding AG, the German motorway service operator, from Terra Firma.
Drakeman and Pauwels join Advent Venture Partners
27/06/2007. Advent Venture Partners has announced the appointment of Don Drakeman and Rudi Pauwels as Venture Partners in the life sciences team. They are to work with Advent Ventures portfolio companies to help progress their potential and with the investment team to source, assess and manage new investments. Don Drakeman will be based in Princeton, New Jersey and Rudi Pauwels will be based in Lausanne, Switzerland.
Mid Europa Partners acquires Serbian cable TV firm SBB
27/06/2007. Mid Europa Partners has completed the acquisition of a controlling stake in Serbia Broadband from SEEF I, managed by Bedminster Capital Management. SEEF II, also managed by Bedminster, is investing alongside Mid Europa. SBB is a cable TV and broadband internet player in Serbia and a provider of satellite TV services across the territory of the former Yugoslavia.
Bain plays the Guitar Center for $2.1bn
27/06/2007. US-based Guitar Center, Inc. has signed a definitive agreement to be acquired by affiliates of Bain Capital Partners - with the deal's total transaction value, including assumed debt, weighing in at approximately $2.1bn.
Golden Acquisition, new PE firm, launches
26/06/2007. A partnership of retail industry and asset management specialists has announced the formation of Golden Acquisition, a private equity firm that will focus on retail and consumer brands. Golden Acquisition, which was formed by the principals of Hudson Capital Partners, will operate separately from Hudson Capitals asset disposition business.
Centerbridge Partners to acquire GSI Holdings
26/06/2007. The GSI Group, Inc., a manufacturer and distributor of agricultural equipment, has announced that its parent company, GSI Holdings Corp., which is controlled by Charlesbank Capital Partners, has entered into an agreement under which affiliates of Centerbridge Partners, L.P. will acquire a majority stake.
AIG appoints Stewart Homler
26/06/2007. AIG Global Investment Group has hired Stewart Homler as managing director of their alternative investment operations for Japan.
Saga and the AA agree to form a new company
26/06/2007. Saga and Permira-backed AA have agreed to form a new company, bringing together the two brands and valuing the combined group at £6.15bn: the AA at £3.35bn and Saga at £2.8bn.
$1.25bn fund close for Insight Venture Partners
26/06/2007. Insight Venture Partners has held a closing of Insight Venture Partners VI, a $1.25bn private equity fund. Like its predecessor funds, Fund VI will be invested in businesses focused on the global software and internet services industry, with capital deployed in both minority and control transactions.
Russia New Growth Fund holds final closing on $345m
25/06/2007. Troika Capital Partners, a Russian private equity firm, has held a final closing of the Russia New Growth Fund, L.P. on $345m, 15 per cent above its original target. It will make equity investments in medium-sized companies in growing industries driven by the consumer demand in Russia and other CIS countries. 18 investors from Europe, Asia and the USA have committed to the fund launched in January 2006.
Krokus closes Nova Polonia Natexis II Private Equity Fund on 100m
22/06/2007. Krokus Private Equity has closed its Nova Polonia Natexis II Private Equity Fund on 100m, the hard cap of the fund. The fund had an original target of 75m.
Blackstone prices $4.1bn IPO
22/06/2007. US buy-out giant The Blackstone Group has priced its IPO at the top end of the range. The IPO of 133.33 million common units representing limited partner interests in Blackstone has been priced at $31 per share. With $4.133bn raised this IPO is one of the largest in US history.
Global Infrastructure Partners appoints Joseph Blum as partner, general counsel
22/06/2007. Global Infrastructure Partners, a private equity fund dedicated to investing in infrastructure assets, has appointed Joseph Blum as a partner and general counsel, based in London.
Madison Dearborn Partners-led investor group to acquire Nuveen Investments
21/06/2007. An investor group led by Chicago-based Madison Dearborn Partners has agreed to acquire Nuveen Investments, a provider of investment services to institutional and high-net-worth investors, in a $6.3bn transaction, including existing debt of $550m.
Core Capital appoints Grant Allen as associate
21/06/2007. Washington, DC-based technology venture capital firm Core Capital Partners has appointed strategy consulting and telecommunications expert Grant Allen as an associate.
Mid Europa, France Telecom/Orange to acquire Austrian mobile operator One
21/06/2007. Mid Europa Partners and France Telecom have agreed to acquire 100 per cent of Austrian mobile operator One for an enterprise value of about 1.4bn. Following the transaction, Mid Europa will own a controlling stake in the company (65 per cent), with France Telecom owning the balance.
Bain, Carlyle, CD&R to acquire HD Supply from The Home Depot for $10bn
20/06/2007. Bain Capital Partners, The Carlyle Group and Clayton, Dubilier & Rice have agreed to acquire The Home Depot's wholesale distribution business, HD Supply, for $10.3bn. The three US buy-out firms will invest equal amounts of equity in the transaction.
Harvest closes fifth fund on $815m
20/06/2007. New York-based private equity firm Harvest Partners has closed its latest fund, Harvest Partners V, on $815m. The fund had an original target of $600m. Investors in the new fund include New York Life Capital Partners, AXA Private Equity, Abbott Capital and Citigroup.
BC Partners to buy Intelsat
20/06/2007. An investor group led by BC Partners has agreed with Intelsat, a provider of fixed satellite services, to acquire 76 per cent of its parent company, Intelsat Holdings in a transaction valuing the company's equity at approximately $5.03bn.
JVP hires Kobi Rozengarten as venture partner
19/06/2007. Kobi Rozengarten has joined Jerusalem Venture Partners, an early stage venture capital firm focusing on the digital media space, as a venture partner. Rozengarten is a former president of Saifun Semiconductors, a provider of IP solutions for the non-volatile memory market.
Barclays Private Equity to sell TUJA to Adecco for 800m
19/06/2007. European mid-market private equity firm Barclays Private Equity and TUJA Group management have agreed to sell German HR services firm TUJA to Adecco for approximately 800m, including 200m in debt.
Lehman Brothers closes private equity fund of funds on $1.5bn
18/06/2007. New York-headquartered investment bank Lehman Brothers has raised $1.5bn for its latest private equity fund of funds vehicle, Lehman Crossroads Fund XVIII. The new fund seeks to invest in leveraged buy-out, venture capital and special situations funds in the Americas, Europe and Asia. It is also allowed to commit up to 20 per cent of its capital to co-investment and secondary transactions.
Cinven to acquire BUPA's hospitals for £1.44bn
18/06/2007. Cinven has won the auction for the hospital operations and assets of UK healthcare provider BUPA. The European private equity firm has agreed to acquire BUPA's hospitals for a total consideration of £1.44bn.
Alinda closes $3bn infrastructure fund
15/06/2007. New York-based Alinda Capital Partners has closed its Alinda Infrastructure Fund I on $3bn - three times the original $1bn target. The fund will focus on infrastructure investments in North America and Europe.
CalPERS awards discretionary emerging markets mandate to EMAlternatives
15/06/2007. The California Public Employees' Retirement System has awarded EMAlternatives an initial $100m discretionary mandate for investments in emerging private equity markets.
Brad Henske joins Hellman & Friedman as managing director
15/06/2007. Hellman & Friedman has hired Brad Henske as a managing director in its San Francisco office. In his new role, Henske will work with the firm's portfolio companies to improve performance.
Emerging Capital Partners sells stake in Ecobank Transnational Incorporated
15/06/2007. Emerging Capital Partners, a private equity firm focused on investing across Africa, has sold its entire position in Ecobank Transnational Incorporated, a regional banking group in sub-Saharan Africa. The investment was made through EMP Africa Fund II PCC (Africa Fund II). The fund achieved a three times return on its initial investment of $11.8m in April 2006, the firm said.
HgCapital sells IRIS Software and Computer Software Group to Hellman & Friedman
15/06/2007. European mid-market private equity investor HgCapital has sold IRIS Software, a UK provider of software to accountancy practices and their customers, and Computer Software Group, a UK provider of software to legal practices and not-for-profit institutions, to Hellman & Friedman for an enterprise value of £500m. HgCapital has announced that it will continue as an active shareholder in the combined business.
NBGI Private Equity hires Joseph Bergin
15/06/2007. NBGI Private Equity has appointed Joseph Bergin as director, based in Manchester. Bergin will be involved in all aspects of the firm's investment activities, including deal origination, execution, portfolio management and exit, with a focus on the North of England.
Norwegian firm NorgesInvestor closes first pe secondaries fund on NOK156m
14/06/2007. NorgesInvestor of Norway has closed its first private equity secondaries fund, NorgesInvestor Opportunities, above its NOK150m target on NOK156m (approximately 19m). A first closing took place in December on NOK130m.
Avista closes $2bn fund
14/06/2007. US firm Avista Capital Partners has closed its first private equity fund, Avista Capital Partners, on $2bn, well above its original target of $1.5bn.
Benchmark names Mike Cassidy entrepreneur-in-residence
14/06/2007. Early stage technology venture capital firm Benchmark Capital has appointed Mike Cassidy as an entrepreneur-in-residence.
Global Infrastructure Partners opens Hong Kong office
14/06/2007. Global Infrastructure Partners, a private equity fund dedicated to investing in global infrastructure assets, has opened an office in Hong Kong. The new office will serve as a base for the firm's investment activities across Asia.
Inveni Capital holds first closing on Inveni Life Sciences Fund I
13/06/2007. New Finnish-German venture capital firm Inveni Capital has held a first closing on its Inveni Life Sciences Fund I. The fund has raised over 20m to date. It is expected to close on between 50 and 70m.
3i to sell HSS to Aurigo and Och-Ziff
13/06/2007. 3i has agreed to sell UK tool hire company HSS in a £310m transaction to Aurigo, an investment vehicle led by ex-Asda CEO and chairman Archie Norman, and Och-Ziff Capital Management Group. 3i said it has made a return of more than four times its investment. Sources close to the deal told AltAssets that the firm has generated an IRR of around 60 per cent from the sale.
Rakesh Kaul joins Carlyle as senior advisor to consumer and retail team
13/06/2007. The Carlyle Group has appointed Rakesh K Kaul as a senior advisor to the Group's consumer and retail investment team, which is headed by managing director Sandra J Horbach.
Hellman & Friedman completes Kronos acquisition
13/06/2007. Hellman & Friedman's sixth fund has completed its $1.8bn acquisition of Kronos. JMI Equity, a private equity firm focused exclusively on the software and business services sectors, is investing alongside lead investor Hellman & Friedman.
Dean Chang named director of University of Maryland's MTECH Ventures
13/06/2007. Dr Dean Chang has joined the Maryland Technology Enterprise Institute as the new director of MTECH Ventures, the University of Maryland's initiative for delivering technology entrepreneurship education and fostering successful technology-based ventures.
Aescap on target to reach 150m hard cap later this year
12/06/2007. New European biomedical venture capital fund Aescap Venture Management has announced that it has raised 102m for its maiden fund. The fund held a first closing on 59m in August 2006. The Amsterdam-headquartered firm expects to close the fund on its hard cap of 150m later this year.
Industri Kapital sells Eltel Networks to 3i
12/06/2007. Telefos, majority owned by Industri Kapital, has agreed to sell Espoo, Finland-headquartered Eltel Networks to 3i. Minority shareholder TeliaSonera has also agreed to sell its shares. The value of the transaction was not disclosed.
Bridges Ventures raises £75m for second community development venture fund
12/06/2007. Bridges Ventures, the venture capital company with a social mission, has closed its second community development venture fund, Bridges Community Development Venture (CDV) Fund II, on £75m, above the £50m target and above its original hard cap of £60m.
Standard Life closes European and US-focused funds of funds on combined £760m
11/06/2007. Edinburgh, Scotland-based Standard Life Investments has raised two new funds. The firm's latest European-focused private equity fund of funds, European Strategic Partners 2006, closed on 900m, while North American Strategic Partners, SLI's first US private equity fund of funds product, closed on $300m earlier this year.
Actis invests $134m in Nigerian Diamond Bank
11/06/2007. Emerging markets private equity investor Actis has led a $134m investment into Nigerian bank Diamond Bank. Actis has acquired a 19.1 per cent stake in the business.
Headway hires Francois Bernardeau, Julian Asquith
11/06/2007. London-based private equity secondaries specialist Headway Capital has appointed Francois Bernardeau as senior advisor and Julian Asquith as CFO ahead of its planned fundraising for Headway Investment Partners II.
EnerVest closes $1bn fund for oil and gas acquisitions
11/06/2007. Houston-based EnerVest Management Partners has closed EnerVest Energy Institutional Fund XI, on $1.02bn. The new fund will focus on investments in upstream oil and gas properties and companies in North America. Fund XI is comprised of 75 institutional investors.
Private equity consortium increases offer for Biomet to $11.4bn
08/06/2007. The board of directors of Warsaw, Indiana-headquartered Biomet, a specialist in the orthopedic and musculoskeletal product industry, has unanimously recommended to shareholders an increased offer from a private equity consortium including The Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. and TPG to acquire Biomet for $46 per share in cash, or an equity value of $11.4bn.
US venture-backed company valuations up on year, down on quarter
08/06/2007. The median pre-money valuation for US venture capital-backed companies dropped from the six-year high it reached late last year, but remains higher than a year ago, according to the latest quarterly valuation report from Dow Jones VentureOne. It reached $18.5m in the first quarter of 2007, up from the $16.4m in Q1 2006 but down from $20m in Q4 2006.
European team spins out of US venture capital firm Benchmark Capital
08/06/2007. London-based Benchmark Capital Europe has spun out of US-based technology venture capital firm Benchmark Capital and renamed itself Balderton Capital. Balderton has approximately $1.5bn under management.
Julien Di Marco joins Activa Capital as an investment analyst
08/06/2007. French mid-market buy-out firm Activa Capital has appointed Julien Di Marco as an investment analyst.
Greenpark closes 730m fund
07/06/2007. London-based private equity secondaries specialist Greenpark Capital has closed its third fund, Greenpark International Investors III, on 730m, well above its 500m target.
Indigo closes fifth European mezz fund on 550m
07/06/2007. Indigo Capital V, Indigo Capital's fifth European mezzanine fund, has held a first and final closing on 550m, the hard cap of the fund. The original target was 500m.
HgCapital backs RidgeWind
07/06/2007. HgCapital, through its Hg Renewable Power Partners fund, has acquired a substantial equity stake in Oxfordshire, UK-based wind developer RidgeWind. HgCapital's investment includes the acquisition of a majority stake in the company, expansion capital and long-term equity for RidgeWind's wind development pipeline.
Graphite sells Avery to Southern Cross for £96.5m
07/06/2007. UK mid-market private equity firm Graphite Capital has sold its majority shareholding in Avery Healthcare, an operator of premium care homes for the elderly, to Southern Cross Healthcare Group in a deal that values Avery at £96.5m. The sale has generated a return of 2.7 times Graphite's investment in 20 months, the firm said in a statement.
CapMan appoints Peter Augustsson to Nordic advisor network
07/06/2007. Peter Augustsson, a former CEO of Saab Automobile and a former president and CEO of Swedish SKF Group, has joined CapMan's Nordic advisor network as industrial advisor.
SGAM AI closes SGAM Eastern Europe Fund on 156m
06/06/2007. SGAM Alternative Investments has closed its latest fund, SGAM Eastern Europe Fund, on 156m. The original target of the fund was 150m. The fund held three interim closings, the first one was completed in February 2006 (80m).
Genstar closes fifth fund on $1.55bn
06/06/2007. San Francisco-based mid-market private equity firm Genstar Capital has held a first and final closing on its most recent fund, Genstar Capital Partners V, with total limited partner capital commitments of $1.55bn. The firm originally targeted a fund size of $1bn.
Mayfield Fund opens Mumbai office, hires Nikhil Khattau, Vikram Godse
06/06/2007. Mayfield Fund has opened a new office in Mumbai, India, and has appointed two experienced domestic investors, Nikhil Khattau and Vikram Godse, to its India team.
Palladium opens LA office
06/06/2007. Palladium Equity Partners has opened a new office in Los Angeles. The California office will be headed by Maria del Pilar Avila, vice president of marketing for Palladium. She will be accompanied by vice president Ivelisse Rodriguez Simon, who will join the firm in July.
Lightyear completes acquisition of Neff
06/06/2007. Lightyear Capital, a private equity firm that focuses on financial services, has announced that Lightyear Fund II has completed its acquisition of Neff Corp, a specialist in the construction equipment rental industry. The transaction is valued at approximately $900m and was financed through a combination of equity contributed by an investor group led by Lightyear and also including General Electric Pension Trust, Norwest Equity Partners and members of Neff's existing management team, as well as debt financing.
Partners Group Direct Investment 2006 closes on 500m
06/06/2007. Swiss-based alternative asset manager Partners Group has closed Partners Group Direct Investments 2006 on 500m, the hard cap of the fund. Partners Group Direct Investments 2006 invests in buy-out transactions on a global basis.
US firm Fenway to acquire 1-800 CONTACTS
06/06/2007. US mid-market firm Fenway Partners has agreed to acquire 1-800 CONTACTS for $24.25 per share, representing a premium of approximately 21 per cent over the 1 June 2007 closing share price of $20.08 and a premium of approximately 34 per cent over the average closing share price during the 30 trading days ending 1 June 2007, according to a statement. The total value of the transaction is approximately $340m.
Audax Private Equity Fund III closes on $1bn
05/06/2007. US-based Audax Group has held a first and final closing on its third private equity fund, Audax Private Equity Fund III, on $1bn. Commitments came mainly from existing investors in prior Audax equity and mezzanine funds.
European Capital invests 337m in Hillarys Blinds, 55m in Go Voyages
05/06/2007. European Capital has acquired Hillarys Blinds, a Nottingham, UK-headquartered provider of made-to-measure window blinds, from Change Capital Partners in a secondary buy-out for 337m. European Capital's investment takes the form of equity, loan notes, mezzanine debt and senior term loans. Hillarys management is investing in equity and loan notes. Following the transaction, European Capital will own approximately 52 per cent of the company on a fully-diluted basis.
Silver Lake, TPG Capital to acquire Avaya in $8.2bn transaction
05/06/2007. Silver Lake, an investment firm focused on large-scale investments in technology-driven growth industries, and TPG Capital, a private investment partnership, have agreed to acquire Avaya for approximately $8.2bn or $17.50 per common share.
Cognetas sells Diana Ingredients for 710m
05/06/2007. Pan-European mid-market private equity firm Cognetas has sold Vannes, France-headquartered Diana Ingredients for 710m to Axa Private Equity. Cognetas has reinvested a 'significant amount' in the transaction, alongside Axa Private Equity.
Swiss private equity fund of funds manager Adveq to open US office
04/06/2007. Zurich, Switzerland-based private equity fund of funds manager Adveq is opening an office in New York.
CCMP Capital Advisors sells PQ Corporation to Carlyle in $1.5bn deal
04/06/2007. CCMP Capital Advisors, on behalf of JPMorgan Partners, has agreed to sell Niagara Holdings, parent company of PQ Corporation, to The Carlyle Group in a $1.5bn transaction.
Shackleton buys another portfolio from 3i
04/06/2007. Shackleton Secondaries, a fund managed by secondaries venture capital firm Shackleton Ventures, has acquired a portfolio of nine companies from 3i Group for an undisclosed amount. The companies primarily operate in information technology, communications and healthcare.
Warburg Pincus leads $100m financing round for Ukrainian bank IMB Group
04/06/2007. Ukranian mortgage and consumer lending business IMB Group has completed a $100m equity financing round, of which lead investor Warburg Pincus contributed $43.8m, joining existing shareholders including Horizon Capital, East Capital and an unnamed US investment bank. The deal values the company at $263.5m.
Lehman Brothers plans listed private equity fund of funds vehicle
04/06/2007. Lehman Brothers Private Equity, a unit of Lehman Brothers Holdings, has announced its plans to give investors access to its private equity investment platform through a new Euronext Amsterdam-listed private equity fund of funds vehicle. Press reports suggested that the estimated $500m offering could take place as early as July.
3i acquires 25 per cent of Finnish mobile operator DNA for 140m
01/06/2007. 3i has acquired 25 per cent of the shares of Finnish mobile operator Finnet (to be renamed DNA) from 18 local telecom operators in the Finnet Group for 140m. 3i's stake will become a 13 per cent stake following the anticipated merger of five local operators and DNA. 3i will use its network and expertise to support DNA's transition into a national, full-service telecommunications group, which will offer mobile, fixed line, broadband and cable TV services following the merger.
Olympus Growth Fund closes on $1.5bn
01/06/2007. Stamford, Connecticut-based Olympus Partners has closed its fifth private equity fund, Olympus Growth Fund V, on $1.53bn. The fund had a $1.5bn target. It launched in February and was 'handsomely oversubscribed', the firm said.
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