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Stratus Group appoints Carlos Kokron to lead its venture capital practice
31/08/2007. Stratus Group, a private partnership that manages venture capital, private equity and mezzanine funds, has appointed Carlos Kokron as managing director to lead its venture capital practice. Kokron will be responsible for identifying new investment opportunities and broadening Stratus' venture capital investor base. 
General Atlantic acquires stake in Torex Retail
31/08/2007. US private equity firm General Atlantic has completed its acquisition of a 33 per cent equity stake in Banbury, Oxfordshire-headquartered retail systems provider Torex Retail Holdings for an undisclosed amount.
Norvestor combines Nordic online travel agents Seat24 and SRG Online
30/08/2007. Norwegian mid-market private equity firm Norvestor Equity has acquired two online travel agents in the Nordic countries, Seat24 Travel and SRG Online, through a newly established holding company, European Travel Interactive. Financial details of the transaction were not disclosed.
Lone Star's KEB sale delayed by Korean government investigation
30/08/2007. Dallas-based private equity firm Lone Star's sale of financial services provider Korea Exchange Bank to banking corporation HSBC could be delayed by an investigation into the investment company's 2003 acquisition of the bank, according to the country's Financial Supervisory Service.
Carlyle reportedly has AUS$1.5bn offer for Coates Hire rejected
30/08/2007. Investors including The Carlyle Group have had an AUS$1.5bn offer for Australian construction equipment rental firm Coates Hire rejected because the price was too low, according to various reports. The private equity business, which made the bid in partnership with Australian equipment hire company National Hire.
Carlyle sells Personal & Informatik
30/08/2007. The Carlyle Group has sold its majority shareholding in Wiesbaden, Germany-based human resources software and services provider Personal & Informatik for an undisclosed amount. Carlyle's indirectly held shares, totalling 66.64 per cent of the company, were sold to 35 institutional investors in Europe and the US.
Austin Ventures hires Joe Marengi as venture partner
29/08/2007. Austin Ventures has hired Joe Marengi, a former Dell and Novell executive, as a venture partner. As part of his new role, Marengi will work with portfolio companies LifeSize Communications, Sipera Systems and Copan Systems, in addition to helping evaluate new investment opportunities throughout the US and internationally.
Marvin Traub forms TSM Capital to invest in early stage fashion companies
29/08/2007. Marvin Traub, the former CEO and chairman of Bloomingdales, and his business partners Mortimer Singer and Aslaug Magnusdottir have formed a new investment firm. TSM Capital invests in luxury brands and retailers within the apparel, accessories, cosmetics, jewellery and home sectors. The firm focuses on early stage businesses with revenues ranging from $5-50m per year.
MidOcean Partners sells Palace Entertainment to Parques Reunidos for $330m
29/08/2007. New York and London-based private equity firm MidOcean Partners has agreed to sell US entertainment park operator Palace Entertainment to Parques Reunidos, a European operator of leisure parks owned by Candover. The transaction is valued at approximately $330m plus cash and less net debt.
Key Principal Partners appoints Nicholas Stone as director
29/08/2007. US private equity firm Key Principal Partners has hired Nick Stone as director, in charge of West Coast business development. Stone will be based in KPP's San Francisco, California office.
Australian DB Capital Partners spins out of Deutsche Bank
29/08/2007. Deutsche Bank has spun off its Australian direct private equity business, DB Capital Partners, to become a new independent company, Propel Investments. The new firm is led by former Deutsche Bank executives Peter Dowding and Albin Kurti.
NBC Universal to acquire Sparrowhawk Media from Providence Equity Partners, 3i
29/08/2007. NBC Universal has agreed to acquire television company Sparrowhawk Holdings and its global portfolio of pay TV channels, including the international (non-US) Hallmark Channels, from Providence Equity Partners, 3i and management shareholders.
Blackstone to invest $150m in Indian Nagarjuna Construction Company
29/08/2007. The Blackstone Group has agreed to invest $150m in Indian construction company Nagarjuna Construction Company.
Goode Partners closes $225m fund
29/08/2007. New York-based private equity firm Goode Partners has closed its first fund, Goode Consumer Fund I, on $225m, surpassing an initial hard cap of $200m, the firm told AltAssets.
ADIH appoints Mathew James COO, Mahmood Samy Naib CDO
28/08/2007. Abu Dhabi Investment House has appointed Mathew James as COO and Mahmood Samy Naib as CDO. In their new roles, James will be responsible for the operations, accounting, administration, IT, HR, legal, corporate communications, strategy, and business performance and other corporate functions, while Naib will oversee the real estate department's functions and the strategic planning for the development sector.
HD Supply purchase price amended to $8.5bn
28/08/2007. US home improvement retailer Home Depot has amended its purchase and sale agreement for its wholesale distribution arm, HD Supply. A private equity consortium comprising Bain Capital Partners, The Carlyle Group and Clayton, Dubilier & Rice, are to pay $8.5bn, a reduction of $1.8bn from the original agreement.
Boston Ventures to acquire US telecoms firm SJI
28/08/2007. Boston Ventures, a private equity firm focused on the media and communications industries, has agreed to acquire Larose, Louisiana-headquartered telecommunications and broadband services provider SJI for an undisclosed sum. Boston Ventures will acquire the company from the Pat Brady family.
Aureos Southern Africa Fund acquires stake in catering company ACE
28/08/2007. Aureos Southern Africa Fund has acquired a 49 per cent stake in South African catering firm Allied Catering Equipment.
Lord Browne joins Riverstone as managing director
24/08/2007. Former BP chief executive Lord Browne of Madingley has joined New York-based private equity firm Riverstone Holdings as a managing director and managing partner of Riverstone Europe. Lord Browne will be based in the firm's new London office.
Carlyle opens Warsaw office, led by Ryszard Wojtkowski
23/08/2007. The Carlyle Group has established a team to conduct private equity investments in Central and Eastern Europe. The Warsaw, Poland-based team will be headed by managing director Ryszard Wojtkowski.
Blackstone to acquire garment manufacturer in India
22/08/2007. The Blackstone Group has agreed to acquire a 50.1 per cent stake in Gokaldas Exports, an India-based garment manufacturer and exporter.
Split Rock appoints Jagi Gill as entrepreneur-in-residence
22/08/2007. Split Rock Partners, a US early stage venture capital firm that invests in healthcare, software and internet services in the Upper Midwest and West Coast, has appointed Jagi Gill as entrepreneur-in-residence. He will focus on new medical device opportunities.
3i launches 3i India Infrastructure Fund with $1bn target
22/08/2007. 3i Group is establishing an India-focused infrastructure fund. 3i India Infrastructure Fund is the first fund being established within the framework of the strategic partnership agreement announced by 3i and the India Infrastructure Finance Company Limited in April.
First Reserve to sell Ohmstede to EMCOR in $455m deal
22/08/2007. First Reserve, a private equity firm focusing exclusively on the energy industry, has agreed to sell Ohmstede to EMCOR Group in an all-cash transaction valued at approximately $455m. Ohmstede is a Beaumont, Texas-headquartered heat exchanger services provider.
Littlejohn buys Synchronous Aerospace Group
22/08/2007. Greenwich, Connecticut-based control-oriented private equity firm Littlejohn & Co. has acquired Synchronous Aerospace Group, a US manufacturer of precision-machined parts and integrated kits and assemblies.
IEV Capital closes $1.83bn energy fund
22/08/2007. The Woodlands, Texas-headquartered IEV Capital has closed a $1.83bn fund. IEV Capital, along with its private equity partners, has created this fund to target sectors of the energy industry that are traditionally difficult to fund: energy savings, renewable or alternative energy and oil drilling.
UK venture-backed companies raised £1.4bn in institutional capital in 2006
21/08/2007. Last year 1,668 venture-backed UK companies raised a total of just under £1.4bn, an increase of 27 per cent from 2005, according to research commissioned by UBS Wealth Management and released by Library House.
HgCapital to sell Schenck Process to Industri Kapital
21/08/2007. European mid-market private equity investor HgCapital has agreed to sell Schenck Process, a Darmstadt, Germany-headquartered provider of industrial weighing, feeding, screening and automation equipment and solutions, to Industri Kapital.
NVP hires Joshua Goldman as venture partner
21/08/2007. Palo Alto, California-based technology venture capital firm Norwest Venture Partners has hired Joshua Goldman as venture partner. Goldman joins two recent additions to NVP, Sergio Monsalve, a former venture partner of marketing at Photobucket and eBay GM, and Tim Chang, a former principal at Gabriel Venture Partners and executive at Gateway, as part of a dedicated team focused on seed, early and mid stage investments in the internet services, consumer technology and media sectors.
Energy Investors Funds hires Scott Parkes as senior associate
21/08/2007. US private equity fund manager Energy Investors Funds has hired Scott Parkes as senior associate in the Mill Valley, California office. Parkes will work with both the firm's investment and marketing teams.
Apollo to invest in cruise company NCL
20/08/2007. New York-based private equity firm Apollo Management has agreed to acquire a 50 per cent stake in Miami, Florida-headquartered cruise company NCL Corporation for $1bn.
Eden Ventures closes £75m technology fund
20/08/2007. Early-stage technology investor Eden Ventures has closed its second technology venture fund, Eden Two, on £75m.
Castle Harlan completes sale of Polypipe, making 4.5 times return
20/08/2007. New York private equity firm Castle Harlan has completed the sale of its interest in Polypipe Group, a UK supplier of plastic pipe systems in the United Kingdom and Ireland. Bank of Scotland Corporate, part of UK banking group HBOS, provided an integrated debt and equity package to support the incumbent management team in a secondary buy-out.
Carlyle, Advent sell HT Troplast to Arcapita
17/08/2007. Bahrain-headquartered investment firm Arcapita Bank has agreed to acquire HT Troplast, a Germany-based developer, manufacturer and marketer of PVC window and door profiles from Advent International and The Carlyle Group. Financial details of the transaction were not disclosed.
AIG Investments acquires Bulgarian Telecommunications Company
17/08/2007. American International Group's asset management arm AIG Investments, through its member company AIG Capital Partners, has acquired a 90 per cent stake in Bulgarian Telecommunications Company from Viva Ventures Holding and certain minority shareholders, following the receipt of relevant EU and other regulatory approvals.
Apax completes ALM acquisition
17/08/2007. Apax Partners' acquisition vehicle Apax Summer, which owns business information provider Incisive Media, has completed the acquisition of New York City-headquartered ALM Media from U.S. Equity Partners for $630m.
TPG Capital to acquire Midwest Air Group in $450m deal
17/08/2007. TPG Capital has agreed to acquire Midwest Air Group, parent company of Midwest Airlines, in a transaction valued at approximately $450m. Shareholders of Midwest's common stock would receive $17 per share.
Kaupthing Bank to acquire NIBC from J.C. Flowers & Co. for €3bn
16/08/2007. Iceland-headquartered Kaupthing Bank has agreed to purchase the entire share capital of Dutch merchant bank NIBC from investors led by J.C. Flowers & Co. for approximately €2.985bn.
Canadian buy-outs hit new record in second quarter
16/08/2007. Buy-out firms invested a record CAN$55.6bn across 52 transactions in the second quarter of 2007, according to a quarterly report released by Canada's Venture Capital & Private Equity Association and Thomson Financial. This is up from the 44 transactions recorded during the first quarter, totalling CAN$5.4bn.
Venture capital investment in China at $560m in second quarter
15/08/2007. Venture capital firms invested a total of $560m in 55 deals in Mainland China in the second quarter of this year, up from the $375m invested in 41 deals in the first quarter and but down from the $661m invested across 70 deals in Q2 2006, according to the China Quarterly Venture Capital Report released by Dow Jones VentureOne and Ernst & Young.
Syncom appoints three new principals
15/08/2007. Syncom Venture Partners, a Silver Spring, Maryland-headquartered early to mid stage venture capital firm focused on the media and communications sectors, has appointed three new professionals to its investment team. Amiel C Bent, Robert L Greene and Stanley T Smith have joined the firm as principals.
Ventures West appoints biotech expert Dan Giampuzzi as entrepreneur-in-residence
15/08/2007. Canadian seed and early stage technology venture capital firm Ventures West has appointed Dan Giampuzzi as an entrepreneur-in-residence. In his new role Giampuzzi will help identify investment opportunities and provide strategic advice and analysis to portfolio companies in the life sciences sector.
Infinity Asset Management holds £50m first closing on maiden fund
15/08/2007. New Manchester-based private equity firm Infinity Asset Management has raised £50m for its first fund. The firm was recently founded by Daniel Finestein, Sarah Platt and Phil Vickers.
Bank of Scotland Corporate funds £450m Polypipe refinancing
15/08/2007. Bank of Scotland Corporate, part of UK banking group HBOS, has provided an integrated debt and equity package to support the incumbent management team in a secondary buy-out of Polypipe, a manufacturer of plastic piping and sanitary systems for the UK and European construction markets, from US private equity house Castle Harlan.
J.C. Flowers & Co. to sell Württembergische und Badische Versicherungs-AG to AIG
14/08/2007. American International Group has agreed to acquire German insurance company Württembergische und Badische Versicherungs-AG (Wüba), its major subsidiary DARAG Deutsche Versicherungs- und Rückversicherungs-AG (DARAG) and other subsidiaries from J.C. Flowers & Co.
Carlyle sells CAMECA to AMETEK
14/08/2007. The Carlyle Group has sold CAMECA, a manufacturer of high-end elemental analysis systems used in laboratory research, semiconductor and nanotechnology applications, to AMETEK, a manufacturer of electronic instruments and electromechanical devices, for €82m.
UK firm Exponent acquires Cardsave
13/08/2007. London-based buy-out firm Exponent Private Equity and Clive Kahn have acquired Cardsave, a UK supplier of credit card terminals and services to independent retailers. Exponent made the investment from its first fund, which closed in summer 2004 on £400m. The fund bought Cardsave from a consortium of shareholders including RJD Partners, Morley Fund Management and Lloyds Development Capital.
GP Investments agrees two major deals in Latin America
13/08/2007. Brazilian private equity firm GP Investments has agreed to acquire 100 per cent of the Latin American Land Drilling and E&P Services businesses from Pride International for US$1bn in cash. In a separate transaction, GP agreed to buy a controlling stake in refractory material producer Magnesita, also based in Latin America, for R$1.24bn (approximately US$640m). This transaction sees GP gain 70.7 per cent of the voting capital and 38.6 per cent of Magnesita's total capital.
Nautic Partners and management acquires Prince Sports
13/08/2007. Providence, Rhode Island-based mid-market private equity firm Nautic Partners has acquired Bordentown, New Jersey-headquartered sporting goods company Prince Sports in partnership with Prince's management. No financial terms were disclosed.
Eurazeo to acquire ELIS from PAI partners for €2bn
10/08/2007. French private equity firm Eurazeo has agreed to acquire ELIS, a European textile and work-wear hygiene services provider, from PAI partners for an enterprise value of €2.28bn. Eurazeo and Eurazeo Co-Investment Partners will make a combined equity investment of approximately €500m. The management of ELIS will also invest in the transaction.
Blackstone to invest $500m in Stiefel Laboratories
10/08/2007. Blackstone's record breaking $21.7bn Blackstone Capital Partners V fund has agreed to make a $500m minority investment in pharmaceutical company Stiefel Laboratories.
American Capital hires Joel Houck
10/08/2007. Alternative assets management company American Capital Strategies has appointed Joel Houck as a senior vice president and managing director. In his new role, Houck will be responsible for developing a new closed-end fund, which would be managed by an affiliate of American Capital.
US venture capital investment volume in second quarter at highest level since 2001
09/08/2007. Venture capitalists invested $7.1bn in 977 deals in the US in the second quarter of 2007, the highest level of deals reported in a quarter since Q3 2001, according to the MoneyTree Report by PricewaterhouseCoopers and the US National Venture Capital Association based on data provided by Thomson Financial.
Istithmar increases offer for Barneys New York to $942m
09/08/2007. Dubai-headquartered private equity and alternative investment house Istithmar has revised its offer to acquire Barneys New York, the luxury specialty retailer, from Jones Apparel Group at a price of $942.3m in a share purchase agreement.
Actis backs MBO of Mivan Far East, realises investment in Unza
09/08/2007. Emerging markets private equity investor Actis has invested $75m in the 100 per cent MBO of Malaysia-headquartered Mivan Far East from European construction business Mivan. In a separate transaction, Actis and Standard Chartered Private Equity have realised their investment in Unza Holdings, a personal care company, following the acquisition of Unza by Wipro for $246m.
Actis, Helios exit Flamingo
08/08/2007. Emerging markets private equity fund managers Actis and Helios Investment Partners have sold their respective minority shareholdings in Flamingo Holdings as part of the 100 per cent sale of Flamingo to James Finlay. Financial details of the transaction have not been disclosed.
Duke Street Capital and Europa Capital acquire CI Traders
08/08/2007. UK and France-based mid-market private equity firm Duke Street Capital and European real estate fund manager Europa Capital have completed the acquisition of CI Traders through Sandpiper, a newly incorporated Jersey-based company, for 100 pence per share or an enterprise value of about £401m. CI Traders is an operator of consumer and leisure sector businesses.
Blackstone closes largest ever buy-out fund on $21.7bn
08/08/2007. US buy-out giant The Blackstone Group has announced that it has closed its new global private equity fund, Blackstone Capital Partners V, on a record-breaking $21.7bn.
Apax to sell Global Refund to Barclays Private Equity
08/08/2007. Apax Partners has agreed to sell Global Refund to Barclays Private Equity. As part of the transaction, the management of Global Refund will continue to be substantial shareholders in the business. The transaction values the company at more than €360m.
MatlinPatterson invests $290m in XLHealth Corporation
07/08/2007. XLHealth, a Baltimore-based company focused on improving the healthcare of chronically ill seniors, has completed a private placement worth approximately $290m. The transaction closed with funding provided by MatlinPatterson Global Opportunities Partners III and MatlinPatterson Global Opportunities Partners (Cayman) III, investment partnerships managed by MatlinPatterson Global Advisors.
Thoma Cressey Bravo leads recapitalisation of Encompass Home Health
07/08/2007. Dallas, Texas-headquartered home health services provider Encompass Home Health has completed a recapitalisation led by private equity firm Thoma Cressey Bravo. Thoma Cressey Bravo, in partnership with Encompass management and Northwestern Mutual Capital, acquired all of the interests in Encompass from Apax Partners.
Actis acquires Mouka in West Africa
07/08/2007. Emerging markets private equity investor Actis has acquired a majority stake in Mouka, producers of 'Mouka Foam'. The Moukarim family founded Mouka in 1972. The family continues to be a partner in the business with a minority stake, and a portion of the total equity in the business has been earmarked for allocation to management.
US VC performance continues to show positive returns across most investment horizons
03/08/2007. US venture capital performance continued to show positive returns across most investment horizons ending 31 March 2007, according to Thomson Financial and the US National Venture Capital Association.
3i Infrastructure partners with Oiltanking
03/08/2007. 3i Infrastructure has agreed with Hamburg, Germany-based Oiltanking, a wholly-owned subsidiary of Marquard & Bahls, and the Malta Freeport Corporation to acquire a 45 per cent interest in Oiltanking Singapore, Oiltanking Amsterdam and Oiltanking Malta (together the 'OT Companies'). The consideration will be financed by €115m of equity from 3i Infrastructure together with a €190m debt facility arranged by RBC Capital Markets.
AIG Investments to sell Bulgarian company JetFinance International to BNP Paribas
03/08/2007. AIG New Europe Fund, a fund sponsored by emerging markets-focused private equity investor AIG Capital Partners, an AIG Investments member company, has agreed to sell JetFinance International to BNP Paribas, through its consumer arm Cetelem.
IBM to acquire Princeton Softech from Apax Partners, LLR Partners
03/08/2007. IBM has agreed to acquire Princeton Softech, a privately held company based in Princeton, New Jersey. IBM is buying the business from Apax Partners and LLR Partners Princeton, according to PE Week Wire.
Italy's I2 Capital Partners Fund closes on €200m
03/08/2007. APEI SGR, a wholly-owned subsidiary of Italian investment firm I2 Capital, has held a first and final closing on its I2 Capital Partners Fund. The fund, with an original target of €180m, has raised €200m.
Third Security closes $250m private equity fund
02/08/2007. US firm Third Security has closed its sixth investment fund, New River Management V, on $250m. The new fund invests in public and private companies.
Polaris hires Larry Kramer as senior advisor
02/08/2007. US venture capital firm Polaris Venture Partners has appointed Larry Kramer, former president of CBS Digital Media and founder, chairman and CEO of MarketWatch, as senior advisor. In his new role, Kramer will provide strategic guidance to portfolio companies operating in the digital media space and help identify new investment opportunities.
CLSA Capital Partners invests in Taiwanese company Unitech Printed Circuit Board
02/08/2007. CLSA Capital Partners' fund ARIA Investment Partners III has invested US$20m in Unitech Printed Circuit Board Corporation.
Terra Firma wins sufficient shareholder support for EMI acquisition
02/08/2007. European private equity firm Terra Firma, Guy Hands, has secured slightly more than the 90 per cent level of shareholder acceptance it needed to acquire music company EMI. This was a condition in the financing agreement between Terra firma and Citigroup.
Bruno Deschamps to head 3i France
01/08/2007. Bruno Deschamps is taking over from Guy Zarzavatdjian as partner and managing director of 3i France. Deschamps joins 3i from Clayton, Dubilier & Rice, where he has been a partner since 2002, and most recently served as chairman of Brake Bros.
Apax sells Healthcare at Home to Hutton Collins
01/08/2007. Apax Partners has agreed to sell Healthcare at Home, a UK healthcare provider in the home environment. As part of the transaction, the management team, led by Charles Walsh and Mike Gordon, will remain majority shareholders.
Altamar closes second fund of funds on $575m
01/08/2007. Spanish fund of funds manager Altamar Private Equity has held a final closing on its second private equity vehicle, Altamar Buyout Global, raising $575m in total commitments.
Genstar Capital appoints Canada expert Kevin O'Leary to strategic advisory board
01/08/2007. San Francisco-based mid-market private equity firm Genstar Capital has appointed Kevin T O'Leary to the firm's strategic advisory board. O'Leary will work with the firm on new investments in Canada.
Brandcorp to go to Ethos in R1.32bn buy-out
01/08/2007. South African fund manager Ethos Private Equity has won 97.79 per cent shareholder approval for their R1.32bn public-to-private buy-out of Brandcorp. The transaction has also, they reported, received unconditional approval from the South African competition authorities.
US venture capital fundraising plunges 62 per cent in second quarter from Q2 2006
01/08/2007. US venture capital firms raised $3.23bn in the second quarter of 2007, a 62 per cent drop from the same period last year and the biggest decline since 2002, according to Dow Jones VentureOne. The quarter saw 15 venture capital funds raised, compared to 25 a year ago, and was the lowest quarterly fund total since the first quarter of 2003.
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