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CBPE backs £142m MBO of Energy Cranes
31/03/2008. UK mid-market private equity firm Close Brothers Private Equity has backed the £142m MBO of Aberdeen-based Energy Cranes International from its parent, London-based investment firm LMS Capital. CBPE has invested £60m alongside the company's management team led by Energy Cranes CEO John Jordan. 
TCR Capital closes TCR Capital Partners III on €160m
31/03/2008. French lower mid-market buy-out firm TCR Capital has closed its third fund, TCR Capital Partners III, on over €160m. The fund had an original target of €150m and held a first closing on €71m in December 2006.
Private equity consortium to acquire Gilat Satellite Networks for $475m
31/03/2008. A consortium of private equity investors including The Gores Group, Israel-based investment company Mivtach Shamir Holdings, DGB Investments and companies affiliated with Roy Ben-Yami, Ami Lustig and Eytan Stibbe has agreed to acquire Israeli satellite communications services business Gilat Satellite Networks for approximately $475m.
CapMan hires Jukka Ruuska, establishes fund to invest in listed companies
31/03/2008. Nordic private equity firm CapMan has appointed Jukka Ruuska, president of the OMX Nordic Exchanges and the Stockholm Stock Exchange, to help the firm establish an equity fund focusing on listed companies in the Nordic region. The fund will apply methods and tools from the world of private equity to public equity investing and value creation.
Canadian firm iNovia raises CAN$107m for seed and early stage VC fund
28/03/2008. Canadian seed and early stage venture capital firm iNovia Capital has raised CAN$107m for its latest fund, iNovia Investment Fund II. The new fund focuses on the IT, life sciences and cleantech sectors. The fundraising process was launched in November 2006 and in April 2007 the firm completed a first closing on CAN$64m. The final closing is expected to occur by the end of April 2008.
NVP India hires Mohan Kumar, opens office in Bangalore
28/03/2008. Technology venture capital firm Norwest Venture Partners has hired Mohan Kumar as executive director of NVP India. Based in the firm's new Bangalore office, Kumar will focus on technology investments in India.
3i to acquire UK software consultancy Civica
28/03/2008. 3i-backed Cornwall Bidco has agreed to acquire the entire issued and to be issued ordinary share capital of UK-based software consultancy business Civica at a price of 270 pence per Civica share, valuing the company at approximately £190m.
Bain Capital, THL sue banks for failure to finance Clear Channel deal
27/03/2008. Bain Capital Partners and Thomas H. Lee Partners have filed complaints in the Supreme Court of the State of New York and the Texas State Court in Bexar County, Texas, against Citigroup, Morgan Stanley, Credit Suisse, The Royal Bank of Scotland, Deutsche Bank and Wachovia to enforce binding commitments by the banks to provide debt financing for the private equity firms' acquisition of Clear Channel Communications, a specialist in the out-of-home advertising industry.
Gryphon Investors appoints Dennis O'Brien as operating partner
27/03/2008. San Francisco-based private equity firm Gryphon Investors has appointed Dennis F O'Brien as a partner. O'Brien will join Gryphon's operating resources group and will monitor and improve the performance of some of Gryphon's portfolio companies.
CMEA Ventures closes seventh fund on $400m
27/03/2008. Californian venture capital firm CMEA Ventures has closed its seventh fund, CMEA Ventures VII, on $400m. Investors in the fund included Guardian Life Insurance Company.
Aureos acquires 30 per cent of South African company Sandbox Holdings
27/03/2008. Emerging markets-focused private equity firm Aureos Capital's Aureos Southern Africa Fund has acquired a 30 per cent equity stake in South Africa-based electronic security and business software company Sandbox Holdings.
Partners Group closes US venture-focused fund
26/03/2008. Zug, Switzerland-headquartered alternative asset manager Partners Group has closed Partners Group US Venture 2006, a $250m fund focusing on investments in established US venture and growth capital partnerships.
M&As of VC-backed Israeli high tech companies totalled $1.9bn in 2007
26/03/2008. Last year 32 M&A deals involving venture capital-backed Israeli high tech companies accounted for $1.9bn of the $3.2bn total value of M&A deals (75) involving any kind of Israeli high tech companies, according to data from the IVC Online Database, developed and maintained by the IVC Research Center.
Riverstone, AEC commit $1bn to solar joint venture
26/03/2008. New York-based energy-focused private equity firm Riverstone Holdings and power company AES Corporation have committed up to $1bn as part of a new joint venture to focus on solar photovoltaic projects. AES and Riverstone will provide up to $500m each over five years to the jointly owned entity, to be called AES Solar.
Bain Capital walks away from $2.2bn 3Com deal
26/03/2008. Bain Capital Partners has terminated the merger agreement with Massachusetts-headquartered 3Com Corporation. Bain Capital said in a statement that it did not go ahead with the transaction 'because the US government's Committee on Foreign Investment in the United States (CFIUS) said it intended to take action to prohibit that transaction.'
Newbury Partners closes maiden fund on $702m
26/03/2008. Stamford, Connecticut-based secondary firm Newbury Partners has closed its first fund on $702m. The fund was launched at the end of 2006 with a $700m target.
Tandem Capital closes first fund on €40m
26/03/2008. Spanish private equity firm Tandem Capital has closed its first fund, Tandem Capital Gestion, on €40m. The fund was officially launched in July 2007.
Alice Ruth joins Quadrangle
25/03/2008. Quadrangle Group has appointed Alice A Ruth as a managing principal of Quadrangle Group and CIO of Quadrangle Asset Management.
Carlyle completes €1.1bn investment in Completel and Numericable
25/03/2008. The Carlyle Group has completed its €1.1bn equity investment in Numericable and Completel. Carlyle has become a shareholder in the French cable companies alongside European buy-out firm Cinven and European media and telecommunications investor Altice, the existing shareholders.
VC-backed Israeli high tech companies raise $538m in 13 IPOs in 2007
25/03/2008. Last year VC-backed Israeli high tech companies raised a total of $538m in 13 IPOs, according to data from the IVC Online Database, developed and maintained by the IVC Research Center.
EQT Partners appoints Peter Korsholm to head Denmark operations
21/03/2008. Nordic private equity firm EQT Partners has appointed Peter Korsholm as head of EQT Equity Denmark, leading the firm's Copenhagen office. The appointment comes after former head Ole Anderson decided to step down after five years.
Northern Light hires John Wu as venture partner
20/03/2008. China-focused venture capital firm Northern Light Venture Capital has appointed John Wu as a venture partner. Wu will be based out of the firm's Shanghai office and will be responsible for evaluating and sourcing new investment opportunities in early and growth stage consumer and technology-enabled businesses.
Wellington Partners hires Loïc Le Meur as venture partner
20/03/2008. Pan-European venture capital firm Wellington Partners has hired web entrepreneur Loïc Le Meur to join its venture partner programme. Le Meur will support Wellington's portfolio companies in the field of digital media and internet services.
ECI Partners to acquire Premier Research Group for £60m
20/03/2008. UK mid-market buy-out firm ECI Partners has agreed to acquire clinical trial business Premier Research Group for approximately £60m.
Venture-backed BladeLogic to be acquired for $800m
20/03/2008. Venture-backed data centre automation business BladeLogic has agreed to be acquired by software company BMC Software for approximately $800m. The company had previously received investments from Battery Ventures, Bessemer Venture Partners, Globespan Capital Partners and MK Capital.
Industri Kapital to sell ELFA for €222m
19/03/2008. Industri Kapital has agreed to sell electronics distributor ELFA for SEK2.1bn (€222m). The European buy-out firm made more than three times its original investment and recorded an IRR of 90 per cent, according to sources close to the deal.
CalSTRS awards $200m mandate to Invesco
19/03/2008. The California State Teachers' Retirement System has announced that Invesco Private Capital will manage its second private equity fund of funds portfolio of new and next generation manager partnership investments. CalSTRS's New and Next Generation Manager Fund II is a $200m private equity portfolio.
European private equity investment reaches €68.3bn - preliminary figures
19/03/2008. European equity capital invested in 2007 could exceed the €71bn of 2006, according to preliminary figures released by PEREP_Analytics, a new and independent data-gathering body endorsed by the European Private Equity and Venture Capital Association and 14 national associations in Europe. Preliminary figures in 2006 showed lower investment levels than in the current data for 2007. Final figures for 2007 may, therefore, be revised upwards from the current €68.3bn.
US Web 2.0 investment jumps 88 per cent in 2007 to $1.34bn
19/03/2008. Last year venture capitalists invested a record $1.34bn into 178 Web 2.0 deals in the US, up nearly 88 per cent over amounts invested in 2006, according to new data announced by Dow Jones VentureSource.
Bain Capital closes €3.5bn European buy-out fund
19/03/2008. Boston-headquartered Bain Capital has closed a €3.5bn buy-out fund for Europe, according to various reports. The fund had an original target of €2.5bn.
EQT Partners hires Thomas Ramsay to head Finnish operations
18/03/2008. Nordic private equity firm EQT Partners has hired Thomas Ramsay as partner and head of EQT Partners in Finland, enabling Udo Philipp, interim head of EQT Equity Finland, to return to his position as partner in Germany.
European private equity funds raise €74.3bn in 2007, EVCA preliminary figures
18/03/2008. European private equity funds raised a total of €74.3bn in 2007, according to preliminary figures released by PEREP_Analytics, a new and independent data-gathering body endorsed by the European Private Equity and Venture Capital Association and 14 national associations in Europe.
WL Ross to acquire Option One's mortgage servicing business for $1.1bn
18/03/2008. New York-based financial restructuring group WL Ross & Co., through its affiliate, AH Mortgage Acquisition Co., Inc., has agreed to acquire the Option One mortgage servicing business from H&R Block for approximately $1.1bn.
Permira hires financial services sector specialist Daniel Healy as senior advisor
17/03/2008. Permira has appointed Daniel M Healy as senior advisor to the firm. Based in New York, Healy will advise Permira on opportunities across a number of sectors, with a focus on financial services.
Ferd Private Equity spins out, renames itself Herkules
17/03/2008. Norway's Ferd Private Equity has renamed itself Herkules Capital to mark its independence from Ferd AS. The firm will relocate its offices to central Oslo.
IDG Ventures Atlantic closes $280m fund, renames itself Flybridge
17/03/2008. Boston-based Flybridge Capital Partners, formerly known as IDG Ventures Atlantic, has closed its latest fund, the $280m Flybridge Capital Partners III, focused on early stage venture investments.
Carlyle Capital Corporation to wind up
17/03/2008. Carlyle Capital Corporation, the Carlyle Group's $22bn mortgage-backed securities fund, intends to file for compulsory winding up in Guernsey, according to a statement.
Gulf Capital, Credit Suisse to establish strategic alliance
17/03/2008. Gulf Capital and Credit Suisse have established a strategic alliance to focus on investing in the Gulf and Middle Eastern economies. Both parties will commit a 'significant amount of investment capital' to the alliance, according to a statement.
CPPIB receives shareholder approval to acquire Auckland International Airport
17/03/2008. Canada Pension Plan Investment Board's estimated CAN$1.5bn bid for the acquisition of a 39.2 per cent stake in Auckland International Airport has received shareholder approval.
Silver Lake Sumeru appoints John Brennan as managing director
14/03/2008. Silver Lake Sumeru, the mid-market investment group of technology-focused private equity firm Silver Lake, has appointed former senior vice president of Adobe Systems John Brennan as managing director. He will be based in the firm's Menlo Park office.
Globespan hires cleantech expert Dr Daniel Leff as venture partner
12/03/2008. Technology venture capital firm Globespan Capital Partners has appointed Dr Daniel V Leff as venture partner. Based in the firm's Palo Alto office, Dr Leff, alongside managing directors Ullas Naik and Dave Fachetti, will focus on cleantech investments companies. He will also work on investments in the semiconductor-related technology field.
Noro-Moseley Partners hires Greg Foster
12/03/2008. Atlanta, US-based venture capital firm Noro-Moseley Partners has appointed Greg Foster to its investment team. Foster will focus on technology investments, with a specific emphasis on opportunities in the digital media space.
XAnge Private Equity closes €50m fund
12/03/2008. Paris-based private equity firm XAnge Private Equity has closed its most recent fund, XPansion, on its target of €50m. The fund was launched in July 2006.
Baring Asia, Chengwei Ventures invest $88m in China CBM Investment Holdings
11/03/2008. Asian private equity group Baring Private Equity Asia, together with Shanghai-based venture capital firm Chengwei Ventures, has invested $88m in China CBM Investment Holdings, as part of an MBO of green energy company Asian American Gas.
Union Square Ventures closes second fund on $156m
11/03/2008. New York-based early stage venture capital firm Union Square Ventures has closed its second fund, Union Square Ventures 2008, on $156m.
BC Partners hires James Rubin, Daniel Selmonosky in New York
10/03/2008. European buy-out firm BC Partners has appointed James Rubin and Daniel Selmonosky as senior partners in the firm's New York office. They will join Raymond Svider and Justin Bateman, who will relocate from the London office.
3i's Alice Escoffier joins Advent International's Paris team
10/03/2008. Advent International has appointed Alice Escoffier as assistant director in its Paris office.
W Capital Partners closes second fund on $700m
07/03/2008. New York-based direct secondary private equity firm W Capital Partners has closed its second fund, W Capital Partners II, on $700m, exceeding its original target of $500m.
YL Ventures hires Robert Goldberg as venture partner
07/03/2008. Europe and Israel-focused early stage technology venture capital firm YL Ventures has appointed internet and digital media veteran Robert Goldberg as a venture partner. Goldberg will be YL Ventures' permanent presence in Silicon Valley.
Cognetas, Englefield acquire Morrison Utility Services for £135m
07/03/2008. European mid-market private equity firms Cognetas and Englefield Capital have jointly acquired UK utility company Morrison Utility Services, part of Anglian Water Group, for £135m, alongside company management.
Altor to acquire Papyrus from Stora Enso for €640m
07/03/2008. Nordic private equity firm Altor Equity Partners, through its Altor Fund II, has agreed to acquire Swedish paper and packaging business Papyrus from Stora Enso for €640m.
Morgan Stanley Private Equity to invest AUS$750m in Learning Care Group
06/03/2008. Morgan Stanley Private Equity has agreed to acquire a 60 per cent stake in US childcare business Learning Care Group, from Australian parent company A.B.C. Learning Centres, for AUS$750m ($702m). A.B.C. will retain a 40 per cent stake.
Lyceum targets investments in legal services sector, hires three
06/03/2008. UK mid-market private equity firm Lyceum Capital is targeting investment opportunities in the legal services sector, which should arise from the Legal Services Act 2007. The firm has established a new legal industry advisory board and recruited Tony Williams, Paul Hewitt and Professor Richard Susskind, OBE to the board.
Pequot Ventures to become independent from Pequot Capital
05/03/2008. Pequot Ventures, the New York City-based venture capital arm of hedge fund Pequot Capital Management, plans to become independent from Pequot Capital. The firm will rename itself FirstMark Capital. The deal still requires investor approval.
Capvis Equity III closes on €600m
05/03/2008. Swiss mid-market buy-out firm Capvis has closed its Capvis Equity III fund on €600m, above its original target of €500m.
Bridgepoint makes 2.5 times return on Tunstall Group sale
05/03/2008. European private equity firm Bridgepoint has sold telecare systems company Tunstall Group to Charterhouse Capital Partners in a £514m transaction. Bridgepoint has realised a 2.5 times return on the original investment, according to a source close to the deal.
Altira closes $178m fund
05/03/2008. Energy technology-focused venture firm Altira Group has closed its fifth fund, Altira Technology Fund V, on $176m. The fund will target the traditional and renewable energy sectors.
LDC sells Britton Group to HSBC Private Equity for £77m
05/03/2008. UK mid-market private equity firm LDC has exited its investment in UK-based extrusion and plastic packaging manufacturer Britton Group through a £77m secondary buy-out backed by HSBC Private Equity and HSBC Bank.
NGP closes $4bn energy fund
04/03/2008. Energy-focused private equity firm Natural Gas Partners has closed its ninth fund, Natural Gas Partners IX, on its hard cap of $4bn. The fund was launched in August of last year, and held interim closings on $2.1bn in September and on $2.6bn in November 2007.
Halder-GIMV Germany II closes on €325m
04/03/2008. German mid-market buy-out specialist Halder, since 2000 part of Belgian private equity firm GIMV, has closed its latest fund, Halder-GIMV Germany II, on €325m. The fund had an initial target of €275m.
Blackstone appoints Gerry Murphy as senior managing director
04/03/2008. The Blackstone Group has hired Gerry Murphy as a senior managing director, based in London. In his new role, Murphy will focus principally on supporting Blackstone's portfolio companies across Europe and Asia.
First Reserve agrees to acquire Gamesa solar unit for €261m
03/03/2008. Energy-focused private equity firm First Reserve Corporation has agreed to acquire solar energy business Gamesa Solar from Spanish sustainable energy company Gamesa Corporación Tecnológica for €261m.
Granville Baird hires Moritz Freiherr Schenck, Matthias Zillmer as partners
03/03/2008. Hamburg, Germany-based mid-market private equity firm Granville Baird has appointed Moritz Freiherr Schenck and Matthias Zillmer as partners.
WL Ross agrees to invest up to $1bn in financial guarantor Assured Guaranty
03/03/2008. Private investment and fund management firm WL Ross & Co. has agreed to buy $250m of common shares of Bermuda-based financial guaranty holding company Assured Guaranty and to provide a commitment to purchase up to $750m of additional Assured shares at the option of the company.
Advent partner Istvan Szoke to build CVC's CEE team
03/03/2008. Europe and Asia-focused buy-out house CVC Capital Partners has hired Istvan Szoke to build an investment team focusing on the firm's CEE activity.
Gresham sells Giles to Charterhouse Capital for reported £185m
03/03/2008. UK mid-market private equity firm Gresham Private Equity has exited its investment in insurance broking company Giles through its sale to Charterhouse Capital Partners. Financial terms of the deal were not officially disclosed, but several reports suggested that the deal was worth up to £185m.
Baird expands activities in China
03/03/2008. Baird Private Equity, the private equity group affiliated with Robert W Baird & Co., has launched a China-based investment team, Baird Capital Partners Asia. Operating out of offices in Beijing, Shanghai and Hong Kong, the team will focus on growth equity investment opportunities in Greater China, in sectors including business services, manufactured products and healthcare.
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