News Archive: November 2007

TPG to acquire Axcan Pharma for $1.3bn
30/11/2007. US buy-out firm TPG Capital has agreed to acquire Canadian specialty pharmaceutical company Axcan Pharma in a deal worth approximately $1.3bn.

AEA sells Burt's Bees to Clorox for $925m
30/11/2007. US buy-out firm AEA Investors is to exit its investment in natural personal care product company Burt's Bees. The Clorox Company will acquire 100 per cent of the company for $925m.

Marlin closes $300m special situations fund
30/11/2007. Los Angeles-based private equity firm Marlin Equity Partners has held a first and final closing on its second fund, Marlin Equity II, on $300m, exceeding its initial target of $250m. The fund was launched in September of this year.

LGV sells UK holiday park operator South Lakeland for £125m
30/11/2007. UK mid-market buy-out firm LGV Capital has sold holiday park operator South Lakeland Group to White Ocean Leisure for £125m. South Lakeland operates nine timber lodge and caravan holiday parks in the Lake District and Morecambe Bay regions.

Global Capital Management holds first closing on buy-out fund on $500m
29/11/2007. Global Capital Management, a wholly-owned subsidiary of Kuwaiti investment company Global Investment House, has held a first closing on its Global Buyout Fund, on over $500m. The fund has a target size of $1.5bn.

Life science fund Frazier Healthcare VI closes on $600m
29/11/2007. Seattle-based healthcare venture capital firm Frazier Healthcare Ventures has closed its sixth institutional fund, Frazier Healthcare VI, above its $550m target on $600m, the hard cap of the fund. There were no interim closings. The firm said it started fundraising in October this year.

Jerusalem Global Ventures to launch $200m growth equity fund
29/11/2007. Jerusalem Global Ventures has announced that it will soon be launching its JGV Growth Equity Fund, a fund with a $200m target. A first closing is scheduled for April 2008.

3i invests $101m in Indian company Soma Enterprise
29/11/2007. 3i, through its 3i India Infrastructure Fund, has invested $101m for a minority stake in Hyderabad-based engineering and construction company Soma Enterprise. Company director Ankineedu Maganti and his family will retain a majority stake.

Aureos Central Asia Fund holds first closing on $50m
28/11/2007. The Aureos Central Asia Fund has held a first closing on $50m. The fund is expected to raise $100m by June 2008.

HgCapital bolsters consumer and leisure team
28/11/2007. European private equity firm HgCapital has appointed Jason Khaksar and Sophie Albizua to join its consumer and leisure investment team.

Ratos, 3i refinance DIAB
28/11/2007. Listed Swedish private equity company Ratos and European private equity firm 3i have completed a refinancing of composite materials manufacturer DIAB totalling SEK1bn ($158m), of which Ratos will receive SEK500m ($78.8m).

Candover joins Eyrir, Landsbanki in €1.5bn Stork deal
28/11/2007. A few months on from Candover's withdrawal of its €1.5bn offer for Dutch company Stork, the firm, along with along with Icelandic investment firms Eyrir Invest and Landsbanki Islands, has agreed to acquire Stork for €48.40 per share, in a deal again worth with around €1.5bn. As part of the deal, Stork Food Systems is to be sold to Marel Food Systems for €415m, on a cash and debt-free basis.

Innovacom closes sixth fund on €150m
27/11/2007. European early stage technology venture capital firm Innovacom has closed its sixth fund, Innovacom 6, on €150m. The fund was launched at the end of March of this year.

Endeavour closes fifth fund on $474m
27/11/2007. Endeavour Capital, a private equity firm focused on the Western US, has closed its fifth fund, Endeavour V, on its hard cap of $474m.

Norbert Reis joins Carlyle's European buy-out team as managing director
27/11/2007. US buy-out giant The Carlyle Group has appointed Norbert Reis as managing director in Carlyle's European buy-out team. His primary focus will be on investments in Germany and Austria, working alongside managing director Gregor Böhm. Reis joins the Carlyle Europe Partners' team of nine managing directors from Credit Suisse where he was vice chairman, investment banking.

ADIA to buy $7.5bn Citi stake
27/11/2007. Abu Dhabi Investment Authority, the sovereign wealth fund of the government of Abu Dhabi, has agreed to acquire $7.5bn of equity units, with mandatory conversion into common shares in financial services firm Citi. Over the past few months Citi suffered from significant looses as a result of the credit crunch. Its CEO Charles Prince resigned earlier this month.

Private equity firms in CAN$500m capitalisation of Aurigen
27/11/2007. Aurigen Re Capital has received CAN$500m in initial capitalisation from investors including EdgeStone Capital Partners, Englefield Capital, Pine Brook Road Partners and Soros Strategic Partners. This capital will support the start-up of Aurigen's life reinsurance business unit in Canada.

IQ Capital launches as independent UK venture capital firm
26/11/2007. Cambridge-based venture capital investors and fund managers Nigel Brown, Ed Stacey, Max Bautin and Kerry Baldwin have launched IQ Capital Partners, a new venture capital firm focused on early stage technology businesses based in the UK. The team spun out of NW Brown Group.

Virgin consortium emerges as preferred bidder for troubled Northern Rock
26/11/2007. Northern Rock has announced that its board has decided to take forward discussions 'on an accelerated basis' with a consortium comprising Richard Branson's Virgin Group, WL Ross & Co, Toscafund Asset Management and First Eastern Investment Group.

TPG, BA walk away from €3.4bn Iberia bid
26/11/2007. A consortium led by US private equity firm TPG and UK airline British Airways has walked away from its €3.4bn bid for Spanish airline Iberia.

Updata closes fourth growth stage venture capital fund on $223m
23/11/2007. US growth stage venture capital firm Updata Partners has closed its fourth fund, Updata Partners IV, on $223m. The fund had an original target of $200m.

J.C. Flowers to lead $1.8bn investment in Shinsei
23/11/2007. A group of investors led by US private equity giant J.C. Flowers & Co. is to invest $1.8bn for an up to 32.6 per cent stake in Japanese diversified financial group Shinsei Bank.

Edmond de Rothschild LBO Fund II closes on €300m
22/11/2007. Edmond de Rothschild Capital Partners, the private equity firm sponsored by the LCF Rothschild Group, has closed its second French lower mid-market fund, Edmond de Rothschild LBO Fund II, on €300m, the hard cap of the fund.

3i, Profita to sell Empower to AAC
22/11/2007. 3i and Finnish private equity firm Profita Management's Profita Fund II have agreed to sell their shareholdings in Finnish energy and telecoms service provider Empower to European private equity firm AAC Capital Partners. Financial details of the deal have not been disclosed.

Bridgepoint acquires CEE rail logistics company CTL
21/11/2007. European private equity firm Bridgepoint has acquired CTL Logistics, a Poland-based private rail logistics company operating in Central and Eastern European from its founder, Jaroslaw Pawluk, for an undisclosed amount. Pawluk will remain with the firm as a significant minority shareholder and will also join the company's supervisory board.

Denham forms $1.5bn energy recycling partnership
21/11/2007. Private equity firm Denham Capital Management has formed a strategic partnership with waste energy recycling firm Recycled Energy Development to develop a $1.5bn portfolio of waste energy recycling projects.

Carlyle's Mexico buy-out team announces first exit
21/11/2007. The Carlyle Group has sold portfolio company Hispanic Teleservices Corporation to Teleperformance. Terms of the transaction were not disclosed.

Origo Sino-India announces new natural resource fund
20/11/2007. China and India-focused private equity investment firm Origo Sino-India has said that it plans to raise at least $100m for a proposed fund investing in private equity investment opportunities in the natural resources sector in China and India.

IDG Ventures establishes $100m technology fund for Korea
20/11/2007. IDG Ventures, the private equity arm of International Data Group (IDG), has established a $100m fund for investment in Korea. IDG Ventures Korea will target early stage investments in technology and technology-enabled companies operating across various industry sectors including the new media, environment, healthcare, education, content-creation, services and other emerging technology-enabled sectors.

Sir David Walker publishes guidelines for UK private equity industry
20/11/2007. Sir David Walker has published his Guidelines for Disclosure and Transparency in Private Equity, recommending that both private equity firms and their portfolio companies disclose more information. However, the private equity business will remain a private business and Sir David does not see the need to make it wholly transparent. The guidelines are a measure of self-regulation of the industry and apply to those buy-out firms that own or look to invest in larger UK companies.

Candover to sell Get to Quadrangle and GSCP-led group in NOK5.8bn deal
20/11/2007. European buy-out firm Candover has agreed to sell Norwegian cable TV operator Get to a syndicate of investors led by Quadrangle Capital Partners and GS Capital Partners for NOK5.8bn ($1.07bn). The deal is Candover's first exit from its €3.5bn Candover 2005 Fund, representing a multiple of 2.2 times the original investment, generating an IRR of around 50 per cent, according to the firm.

BVCA establishes monitoring body ahead of Walker review announcement
19/11/2007. When Sir David Walker publishes his final guidelines and recommendations on transparency and disclosure for the private equity industry tomorrow morning, the BVCA will have already established a monitoring and review body to check that private equity firms stick to the 'comply or explain' principle and to keep the guidelines under review.

3i to acquire lingerie retailer Agent Provocateur
19/11/2007. 3i has agreed to acquire luxury brand lingerie retailer Agent Provocateur. Financial details of the transaction were not officially disclosed, but sources told AltAssets that the purchase price was approximately £60m.

Apax, Chequers to sell Alma to Candover
19/11/2007. Apax Partners in France and Paris-based buy-out firm Chequers Capital have agreed to sell European cost reduction and tax recovery services business Alma Consulting Group to Candover. The deal is believed to be worth around €800m.

Baigo raises €100m for European healthcare
19/11/2007. Baigo Capital, a new German private equity firm with a focus on the European healthcare sector, has held a first closing on its first fund. The firm has raised raised €100m from two cornerstone investors: European private bank Sal. Oppenheim and a family office linked to the healthcare sector. The fund has a target of €300m.

Aueros invests in airport service provider Aviance Ghana
19/11/2007. Emerging markets-focused private equity firm Aureos Capital, through it Aureos West Africa Fund, has completed its investment in Aviance Ghana, a cargo handling service provider at Kotoka International Airport, Ghana's largest international airport. Aureos has taken a 33 per cent stake in Aviance.

Keystone closes fund on $75m
19/11/2007. Lower mid-market private equity firm Keystone National Group has closed its Keystone Private Equity fund on approximately $75m. The fund was launched in summer 2006.

PA Early Stage renames itself Novitas Capital
16/11/2007. US early stage technology and life science venture capital firm PA Early Stage Partners has renamed itself Novitas Capital.

UK firm Endless expands activity in Northern Ireland, Republic of Ireland
16/11/2007. Leeds-headquartered buy-out and turnaround firm Endless has appointed two senior advisers, John Kernohan and Richard Gillan, based in the Belfast area. Initially, they will focus their investment activity on Northern Ireland, but they will also look at opportunities in and around Dublin.

EQT-led consortium's offer for Securitas Direct may undervalue company
16/11/2007. The SEK9.6bn ($1.5bn) bid for security services business Securitas Direct by a consortium led by Swedish private equity firm EQT is under pressure from US hedge fund investors who own stakes in the company. They claim that the SEK26 ($4.12) per share offer undervalues the company, according to Financial Times and Real Deals.

UK firm ECI to sell Bounty for £70m
16/11/2007. UK mid-market buy-out firm ECI Partners has agreed to sell UK parenting club Bounty to Toronto-based family-focused online media company Kaboose for £70m.

Gala-led consortium considers bid for Iberia
16/11/2007. A consortium led by Spanish private equity firm Gala Capital has approached Spanish flag carrier Iberia. The group is seeking access to Iberia's books. Gala indicated that it may pay in the range of €3.60 to €3.90 per share, valuing the company in the €3.6-3.9bn range.

Permira to exit personal protection equipment business Aearo Technologies
16/11/2007. Permira has agreed to sell Aearo Technologies, a specialist in the personal protection industry, to 3M for $1.2bn.

US firm Vestar opens Munich office, headed by Jens Tonn
15/11/2007. US private equity firm Vestar Capital Partners has opened a further office in Europe. The new Munich office adds to the firm's other locations in Continental European: Paris and Milan. The four-strong German team, headed by Jens Tonn, will further develop the firm's business in the German-speaking region.

New York Life Capital Partners raises $800m for mezzanine fund
15/11/2007. New York Life Capital Partners, the private equity branch of New York Life Investment Management, has closed its second mezzanine fund, NYLIM Mezzanine Partners II, on $800m, significantly above its $600m target.

BaltCap completes its own buy-out
15/11/2007. The management team of BaltCap has completed a 100 per cent buy-out of the private equity firm from Evli Group and CapMan. BaltCap will continue to manage Baltic Investment Fund III and Baltic SME Fund together with CapMan and Evli Group.

Cerberus withdraws $6.6bn United Rentals offer
15/11/2007. New York-based Cerberus Capital Management has withdrawn from an agreement to purchase rental equipment company United Rentals in a transaction valued at approximately $6.6bn, including the assumption of approximately $2.6bn in debt obligations.

ISIS IV closes on £238.5m
15/11/2007. UK lower mid-market buy-out firm ISIS Equity Partners has closed its new fund, ISIS IV, on £238.5m, including a £3.5m commitment from the ISIS team. The fund had an original target of £200m. ISIS began raising the fund in November 2006 and held a first closing on £148.5m in January this year.

Venture capital firms invested $677m in Mainland China in third quarter
14/11/2007. Venture capital firms invested $677m across 59 deals in Mainland China during the third quarter of 2007. This is a five per cent increase over the $645m (invested in 76 deals) during the same period last year, according to the China Quarterly Venture Capital Report released by Ernst & Young and Dow Jones VentureOne.

Lion Capital to acquire specialty retailer AS Adventure Group
14/11/2007. Lion Capital, a London-based private equity firm with a focus on the consumer sector, has agreed to acquire AS Adventure Group, a specialty retailer of branded outdoor equipment and clothing in Belgium, the UK and the Netherlands, in a €263m transaction, including debt.

DIC, HSBC, Oasis hold $300m first closing on MENA Infrastructure Fund
14/11/2007. DIC Asset Management, a wholly-owned subsidiary of Dubai International Capital, the international investment arm of Dubai Holding, HSBC Bank Middle East and Oasis International Leasing have announced a first closing of the MENA Infrastructure Fund with commitments totalling $300m. The fund has a $500m target.

Skyline closes $350m healthcare venture capital fund
14/11/2007. US firm Skyline Ventures has closed its latest fund, Skyline V, on $350m. Skyline launched the fund in late June and closed it on its hard cap in late October, according to a statement.

Dutch pension fund ABP in negotiations to team up with Cordares
14/11/2007. ABP and Cordares, two Dutch pension funds, are in talks and could merge next year, creating one of the world's largest pension funds.

ECP, Truffle Capital acquire Moroccan mining company
14/11/2007. Private equity firms Emerging Capital Partners and Truffle Capital have jointly acquired 100 per cent of Moroccan mining company Compagnie Miniere de Touissit for $53m. The investment was made through a special purpose vehicle called OSEAD Maroc Mining.

Madison Dearborn-led consortium completes $6.3bn Nuveen acquisition
14/11/2007. A group of private investors led by US private equity firm Madison Dearborn Capital Partners has completed the $6.3bn acquisition of diversified investment services provider Nuveen Investments. Under the terms of the transaction, Nuveen stockholders will receive $65 per share in cash.

Amanda holds first closing on fourth fund on €77m
13/11/2007. Finnish private equity firm Amanda Capital has held a first closing on its fourth Western Europe-focused fund, Amanda IV West, on €77m. The fund was launched in June of this year and is expected to hold a final closing by November 2008.

Buy-out funds invest $3.3bn in Canadian companies in Q3
13/11/2007. During the three-month period ending 30 September 2007, buy-out funds invested a total of $3.3bn in Canadian companies in a total of 39 reported transactions, according to Canada's Venture Capital and Private Equity Association and Thomson Financial. In comparison, $12.2bn was invested in 107 reported buy-outs of Canadian companies during the full year of 2006.

Buffini new chairman at Permira
13/11/2007. Damon Buffini, the current managing partner at Permira, has been named chairman of the European-based buy-out group. Buffini will remain chairman of the investment committee. Permira has also announced the appointment of new co-managing partners, Kurt Björklund, the head of Permira's Stockholm office, and Tom Lister, the head of the New York office, as part of a strengthening of its management team.

3i hires Rosalyn Wilton as senior advisor to strengthen media sector team
13/11/2007. 3i has appointed media expert Rosalyn Wilton, currently chairman of Ipreo, the newly formed merger between Hemscott and US-based i-Deal, as a senior adviser. Wilton will work closely with 3i's media sector team and help identify investment opportunities in the business information space, with a focus on online businesses.

Al Gore joins Kleiner Perkins Caufield & Byers as partner
13/11/2007. Former US vice president and climate change campaigner Al Gore has been named a partner at venture capital firm Kleiner Perkins Caufield & Byers. Gore will be responsible for helping find and fund businesses with the potential to help solve the current climate crisis.

EVCA study: family offices allocate more capital to private equity
13/11/2007. Family offices have been increasing their allocations to private equity and this trend is likely to continue, according to a new study by the European Venture Capital and Private Equity Association and the IMD Business School of Lausanne.

Carlyle, Lehman to sell Firth Rixson to Oak Hill for £945m
12/11/2007. The Carlyle Group and Lehman Brothers have agreed to sell UK metal parts manufacturer Firth Rixson to Oak Hill Capital Partners for an aggregate transaction value of approximately £945m. The company's management team will remain significant investors in the company.

Gresham creates team dedicated to energy and environmental sector
12/11/2007. UK mid-market buy-out firm Gresham Private Equity has established a dedicated energy and environmental team, headed by partners Andy Marsh and Christian Bruning.

BlueRun adds two investment directors to China team
12/11/2007. Early stage venture capital firm BlueRun Ventures has appointed William Qu and Mike Ding as investment directors. Qu, based in Beijing, and Ding, based in Shanghai, will focus on new media, wireless and consumer services investment opportunities in China.

3TS, Cisco launch new venture capital fund for CEE region
12/11/2007. CEE-focused 3TS Capital Partners has teamed up with Cisco Systems to launch a new investment fund, the Technology in Central and Eastern Europe S.C.A. SICAR (to be marketed as the 3TS-Cisco Growth Fund III). The new fund will primarily target growth capital investments in technology, media and communications companies in the CEE region.

TA Associates to sell SmartStream to DIFC Investments
12/11/2007. US buy-out firm TA Associates, SmartStream Technologies management and employees have agreed to sell UK-based software licensing and professional services business SmartStream to the Dubai International Financial Centre's investment arm, DIFC Investments. The all-cash transaction values SmartStream at approximately £200m.

Accel closes tenth venture capital fund on $520m
12/11/2007. Technology-focused venture capital firm Accel Partners has held a first and final closing on its tenth fund, Accel X, on $520m. Fundraising began in the second half of September and the fund closed on 30 October, according to a source at the firm.

Carlyle strengthens CEE team with three senior hires
09/11/2007. US buy-out giant The Carlyle Group has expanded its Warsaw-based CEE team with the appointment of three professionals. Janusz R Guy has been appointed a managing director, while Aleksander Kacprzyk and Piotr Nocen have been appointed directors. They will join the team established and led by managing director Ryszard Wojtkowski.

AlpInvest hires secondary investment specialists
09/11/2007. Dutch private equity investor AlpInvest Partners has appointed Chris Perriello and Michael Hacker to its New York-based secondary investments team. Earlier this year, Gunter Waldner joined the Amsterdam-based secondary investments team.

Gridiron Capital closes $300m debut fund
09/11/2007. New Canaan, Connecticut-based Gridiron Capital has closed its debut fund on $300m, exceeding its original target of $250m. The fund focuses on acquiring controlling interests in mid-market manufacturing, service and specialty consumer companies in the US and Canada.

ECI acquires Kelvin Hughes in £52m deal
09/11/2007. UK mid-market buy-out firm ECI Partners has acquired Kelvin Hughes, a supplier of navigation products and services for the naval and commercial marine sectors, in a £52m deal.

US firm KRG closes fourth buy-out fund on $1.96bn
08/11/2007. Denver-based private equity firm KRG Capital Partners has closed its latest fund, KRG Capital Fund IV, on $1.96bn, exceeding its initial target of $1.25bn. The fund was launched in May 2007.

John Shettle, Jr joins Lightyear Capital as senior advisor
08/11/2007. New York-based private equity firm Lightyear Capital has appointed John F Shettle, Jr as a full-time senior advisor. Shettle will work on deal sourcing for Lightyear and will provide Lightyear's portfolio companies with operations advice.

CDC commits $20m to new South African private equity funds
07/11/2007. UK government-backed private equity emerging markets fund of funds manager CDC Group has made new commitments totalling $20m to two South African private equity funds. It is expected that these two funds will raise over $150m in aggregate for investment in the region.

Carlyle closes $1.15bn infrastructure fund
07/11/2007. The Carlyle Group has closed its first infrastructure fund, Carlyle Infrastructure Partners, on $1.15bn, above its original target of $1bn. CIP was established in March 2006.

Fondinvest hires Thomas de Cagny, Declan Feeney
07/11/2007. Paris-based Fondinvest Capital has appointed Thomas de Cagny and Declan Feeney as investment managers, bringing the investment team up to eight professionals.

Macquarie acquires interest in Chinese toll road in $532m deal
07/11/2007. Macquarie International Infrastructure Fund, the Asian-listed infrastructure fund of Australian financial house Macquarie Bank Group, has acquired an 81 per cent interest in Hua Nan Expressway, a 31 kilometre dual-carriage urban toll road in the Chinese city of Guangzhou, in a deal worth approximately RMB3.96bn ($532m).

HarbourVest to list new investment vehicle on Euronext Amsterdam
06/11/2007. Private equity fund of funds manager HarbourVest Partners has announced plans to list HarbourVest Global Private Equity (HVPE), a newly established closed-ended investment company, incorporated in Guernsey, on NYSE Euronext in Amsterdam. The new company will be managed by HarbourVest Advisers, an affiliate of HarbourVest Partners.

Dubai International Capital acquires Almatis from Rhône Capital, Teachers'
06/11/2007. Dubai International Capital, the international investment arm of Dubai Holding, has agreed to acquire Almatis, a Frankfurt, Germany-headquartered producer of specialty alumina, from Rhône Capital and Teachers' Private Capital, the private investment arm of the Ontario Teachers' Pension Plan. Terms of the transaction were not disclosed.

US firm TCV closes $3bn venture capital fund
06/11/2007. US technology-focused venture capital firm Technology Crossover Ventures has held a first and final closing on its seventh fund, TCV VII, on $3bn.

Q3 European venture capital investment up on year and quarter
06/11/2007. European venture capital investment climbed to €1.18bn in the third quarter of 2007, up from €968m invested in the same quarter last year and the €1.15bn invested in Q2 2007, according to the Quarterly European Venture Capital Report by Dow Jones VentureOne and Ernst & Young.

GP Investments opens Mexico office
06/11/2007. GP Investments, the Brazilian buy-out firm that has just closed its latest private equity fund, GP Capital Partners IV, above its $600m target on $1.3bn, has opened a new office in Mexico City, headed by GP partner Márcio Tabatchnik Trigueiro.

UK firm Gresham appoints James Slipper as investment partner
05/11/2007. UK mid-market buy-out firm Gresham Private Equity has appointed James Slipper as a partner in its London-based investment team.

Qatari-backed fund Delta Two withdraws £10.6bn offer for J Sainsbury
05/11/2007. Delta Two has announced that it will not proceed with a 600 pence per share offer for UK supermarket chain J Sainsbury. The Qatari government-backed private equity fund said that the required funding and cost of capital had increased significantly, causing the deal to collapse.

Bridgepoint exits Alliance Medical following fund launch in September
05/11/2007. European private equity firm Bridgepoint has sold Warwickshire, UK-based diagnostic imaging services provider Alliance Medical to Dubai International Capital, the international investment arm of Dubai Holding, for £600m. Bridgepoint has made a four times return on the sale.

Blackstone consortium has AUS$3bn bid for Nufarm accepted
05/11/2007. Australian agricultural chemical company Nufarm has agreed to be acquired by US buy-out giant The Blackstone Group, Fox Paine Management III and Chem China in a deal worth up to AUS$3bn ($2.76bn).

Veritas appoints former BAE Systems chairman Mark Ronald as special advisor
02/11/2007. Veritas Capital Partners, a New York-based private equity firm focusing on the defence, government services and aerospace sectors, has appointed former chairman of aerospace company BAE Systems, Mark H Ronald, as a special advisor. Ronald will assist in evaluating potential acquisitions and investments, and work with portfolio companies to create value.

Arcapita sells UK utility company South Staffordshire to Alinda
01/11/2007. Bahrain-based investment firm Arcapita Bank has sold UK-based water company South Staffordshire to the Alinda Infrastructure Fund, a $3bn institutional fund managed by Alinda Capital Partners, for an undisclosed amount.

Dubai Financial Group increases stake in Marfin
01/11/2007. Dubai Financial Group, the financial holding company of MENA financial conglomerate Dubai Group, has acquired shares in Marfin Popular Bank and Marfin Investment Group.

3i appoints Kevin Dunn as general counsel
01/11/2007. 3i has appointed Kevin Dunn as general counsel, company secretary and member of 3i's management committee. Dunn will be responsible for the group's legal, compliance, internal audit and company secretariat functions.

3i to sell Coor Service Management to Cinven in €540m deal
01/11/2007. 3i has agreed to sell its stake in Nordic service management company Coor Service Management Group to Cinven in a deal worth around €540m.