3i leads equity investment in medical diagnostics company Labco
23/07/2008. 3i has invested €140m of equity for a minority stake in European medical diagnostics network Labco. The firm invested alongside TCR Capital, Natixis Investment Partners and existing shareholder CIC Finance, who committed an additional €60m, with healthcare professionals and Labco managers investing a further €58m. In addition, Labco has secured €300m in senior debt, with a possible extension of €50m, and €120m in mezzanine financing.

PAI establishes business to focus on minority stakes in listed companies
23/07/2008. European private equity firm PAI partners has established independent investment firm Akkadia, with Philippe Guez. The new firm will manage and advise funds dedicated to the acquisition of minority stakes in listed mid-cap companies.

Hellman & Friedman to acquire SSP Holdings for £198m
23/07/2008. San Francisco-based private equity firm Hellman & Friedman has agreed to acquire UK-based IT firm SSP Holdings for £198m, including the assumption of existing debt. The investment will be made from the firm's Hellman & Friedman Capital Partner VI fund, which closed on $8.4bn last year.

Millennium appoints Jonathan Glass as CFO
23/07/2008. New York-based Millennium has appointed Jonathan Glass as CFO. He will serve the firm's Millennium Technology Value Partners and Millennium Technology Ventures funds, as well as related entities.

Phoenix, Sirius invest £100m in LK Bennett
22/07/2008. UK mid-market private equity firm Phoenix Equity Partners and branded goods-focused investment firm Sirius Equity have agreed to invest in English fashion brand LK Bennett. Financial terms were not disclosed, but the size of the investment was believed to be between £80m and £100m, according to a source close to the deal.

KKR hires former TWC president William Sonneborn
22/07/2008. US private equity giant Kohlberg Kravis Roberts has hired TWC Group's William Sonneborn as it seeks to further develop its asset management business.

CDC commits $185m to India funds
22/07/2008. UK government-backed private equity emerging markets fund of funds investor CDC Group has made new commitments totalling $185m to six private equity funds focused on investment in India. This brings CDC's overall commitment to private equity funds investing in the region to over $1bn.

Segulah makes €171m offer for industrial group Gunnebo
22/07/2008. Nordic mid-market buy-out firm Segulah has made an offer to acquire industrial group Gunnebo Industrier for SEK185 (€19.5) per share, in a deal that values the company at SEK1.62bn (€171m).

CapVest sells FoodVest to Lion Capital for £1bn
22/07/2008. UK-based mid-market buy-out firm CapVest has agreed to sell frozen food manufacturer The FoodVest Group to European private equity firm Lion Capital. Financial terms were not disclosed, but the size of the transaction is believed to be approximately £1bn, according to sources familiar with the deal.

ECP, Actis exit investment in Nigerian telecom company Starcomms
22/07/2008. Africa-focused private equity firm Emerging Capital Partners and emerging markets investor Actis have exited their investment in Nigerian mobile telecommunications operator Starcomms through a NGN64.35bn ($547m) private placement of the company's shares, which were then listed on the Nigerian Stock Exchange. The deal yielded a return of 2.9 times ECP's initial investment, with total proceeds of $99.1m, according to the firm.

Advent acquires majority stake in Bradco
22/07/2008. Mid-market buy-out firm Advent International has agreed to buy a majority stake in US roofing company Bradco Supply Corp from the Segal family. Financial details were not disclosed. The investment was made from the firm's $10.4bn Global Private Equity VI fund, which closed earlier this year.

Stirling Square backs €100m MBO of Microtecnica
21/07/2008. Pan-European private equity firm Stirling Square Capital Partners has backed the MBO of Italian aerospace component manufacturer Microtecnica. The size of the deal was not disclosed, although it is believed to be between €100m and €125m, according to sources close to the deal.

The Jordan Company to acquire Harvey Gulf for $500m
21/07/2008. US mid-market private equity firm The Jordan Company has agreed to acquire marine transportation company Harvey Gulf International Marine for $500m.

Cowen Healthcare Royalty Partners closes $500m fund
21/07/2008. US healthcare private equity firm Cowen Healthcare Royalty Partners has closed its inaugural fund, Cowen Healthcare Royalty Partners, on its hard cap of $500m, exceeding its initial target of $350m.

Accretive Exit Capital Partners closes first fund on $125m
21/07/2008. Secondary buy-out firm Accretive Exit Capital Partners has held a final closing on their inaugural fund, Accretive Exit Capital Partners, on its hard cap of $125m.

Capvis acquires KVT for €325m
21/07/2008. Swiss mid-market buy-out firm Capvis has bought connection systems company Koenig Verbindungstechnik from Klöckner & Co, for €325m.

LS Power, GIP propose CAN$7.75bn acquisition of TransAlta
21/07/2008. LS Power Equity Partners and Global Infrastructure Partners have made a non-binding proposal to acquire power generation and wholesale marketing company TransAlta Corporation for CAN$39 per share, in a deal worth an approximate CAN$7.75bn.

NRDC Equity Partners acquires Hudson's Bay Company, invests $500m in new holding company
18/07/2008. US private equity firm NRDC Equity Partners has acquired Canadian merchandise retailer Hudson's Bay Company, merging the business with portfolio companies Lord & Taylor, Fortunoff and Creative Design Studios in a newly formed holding company called Hudson's Bay Trading Company, into which the firm will invest $500m.

GEF hires Raj Pai as managing director for India, South Asia
18/07/2008. Washington, DC-based private equity firm Global Environment Fund has appointed Raj Pai as a managing director for the firm's investment activities in India and South Asia.

Hudson Clean Energy Partners hires Terry Jester as entrepreneur-in-residence
18/07/2008. Renewable energy-focused private equity firm Hudson Clean Energy Partners has hired Terry Jester as an entrepreneur-in-residence. In her new role with Hudson, Jester will collaborate with investment professionals Daniel Gross and Craig Cornelius in evaluating investment opportunities in the solar sector.

Ratos to sell Hägglunds Drives for €455m
18/07/2008. Listed Swedish private equity firm Ratos has agreed to sell hydraulic motor and drive systems supplier Hägglunds Drives to Bosch Rexroth for approximately SEK4.3bn (€455m). The sale will generate an exit gain for Ratos of approximately SEK4.4bn (€466m) and an IRR of 56 per cent, according to the firm.

Avista Capital Partners hires energy veteran John Huff
18/07/2008. New York-headquartered private equity firm Avista Capital Partners has hired John R Huff as an industry advisor.

Advent acquires Craegmoor from LGV
18/07/2008. Advent International has acquired healthcare provider Craegmoor Healthcare Group from UK mid-market firm LGV Capital.

Silverfleet to sell TMF to Doughty Hanson for €750m
17/07/2008. European mid-market private equity firm Silverfleet Capital, formerly known as PPM Capital, has agreed to sell its interest in management and administrative service provider TMF to private equity firm Doughty Hanson, company management and founder shareholders for €750m. The deal will produce a multiple of six times the original investment and result in an IRR of 55 per cent, according to the firm.

NBGI establishes Paris office, launches €75m fund
17/07/2008. UK mid-market private equity firm NBGI has expanded its operations with the launch of a French fund, targeted at €75m. The firm has established an office in Paris, to be headed by Didier Riebel and Laurent Allégot.

Sentinel closes fourth fund on $765m
17/07/2008. New York-based private equity firm Sentinel Capital Partners has closed its fourth fund, Sentinel Capital Partners IV, on $765m, above its initial target of $600m. The fund closed within six months of its launch, according to the firm.

PAI, Goldman Sachs acquire Xella for €2bn
17/07/2008. European private equity firm PAI partners and Goldman Sachs Capital Partners, the private equity arm of Goldman Sachs, have acquired German construction materials company Xella International from the Haniel Group. The size of the deal was not disclosed but is believed to be around €2bn, according to a source close to the deal.

Egeria closes third fund on €500m
17/07/2008. Dutch mid-market buy-out firm Egeria has closed its third fund, Egeria III, on its hard cap of €500m, exceeding its initial target of €400m.

Video game-focused private equity firm GCube Ventures launches
16/07/2008. Shiraz Akmal and Jawad Ansari have established private equity firm GCube Ventures, based in Los Angeles, which will focus on the video game industry, initially targeting the US and Asian markets.

Siparex launches $150m SME fund for Egypt
16/07/2008. SIGEFI Private Equity, part of French Siparex group, has teamed up with Cairo-based Beltone Private Equity to launch a $150m fund to invest in SMEs in Egypt and the GCC region. The fund will consist of a $100m sub-fund focused on investments in Egypt and another sub-fund of $50m for the GCC region.

Oxford Gateway Fund No.4 closes on £12.35m
16/07/2008. UK venture capital firm Oxford Capital has closed its Oxford Gateway Enterprise Investment Scheme (EIS) Fund No.4 to new investment. The fund has total assets of £12.35m.

Henry Potter joins Alpha Associates
16/07/2008. Alpha Associates has appointed Henry Potter, senior private equity banker at the European Bank for Reconstruction and Development in London. Potter will join the Zurich-based private equity fund of funds firm as partner in September 2008.

Global MENA Financial Assets raises £252m in IPO
16/07/2008. Kuwaiti investment bank Global Investment House has raised £252m for its private equity fund Global MENA Financial Assets in an IPO on the London Stock Exchange.

DN Capital to open Palo Alto office
16/07/2008. European venture capital firm DN Capital is to open an office in Palo Alto, California, to be headed by managing partner and co-founder Steve Schlenker.

Private equity consortium to sell UK supermarket chain Somerfield for £1.6bn
16/07/2008. Violet Acquisitions, an acquisition vehicle formed by Apax Partners, Barclays Capital, Kaupthing and the Tchenguiz Family Trust have agreed to sell UK supermarket chain Somerfield to the Co-Operative Group for £1.565bn. The sale generated a return of approximately two times, according to a source close to the deal.

US venture capital fundraising activity strengthens in second quarter
15/07/2008. In the US, 71 venture capital funds raised $9.1bn in the second quarter of 2008, according to Thomson Reuters and the US National Venture Capital Association. The number of funds raised in the quarter was down by 14 per cent from the same period in 2007, while the dollar value actually increased, by three per cent.

Manchester-based Infinity opens Mayfair office
15/07/2008. Manchester-based private equity and property fund Infinity has opened a new office in Mayfair, London, from which it plans to expand its activities into the South of England.

ArcelorMittal launches green venture capital funds
15/07/2008. Metals and mining company ArcelorMittal has launched two venture capital funds, the Clean Technology Venture Capital Fund and the Carbon Fund. The company will invest from its own balance sheet, working alongside venture capital firms including Bessemer Venture Partners, Khosla Ventures and Kleiner Perkins Caufield & Byers.

PCGI adds two managing directors, senior associate
15/07/2008. Washington, DC-based private equity fund of funds manager PCG International has hired two new managing directors, Charles Toy and Bernard McGuire, and a new senior associate, Amit Chandra.

Oak Hill completes $1.1bn acquisition of TV stations from News Corporation
15/07/2008. Oak Hill Capital Partners has completed its acquisition of eight Fox network-affiliated TV stations in the US from News Corporation for approximately $1.1bn.

HitecVision sells three Fund III investments to Cubera Private Equity
15/07/2008. Norwegian private equity firm HitecVision has sold three investments from its HitecVision Private Equity III fund to Cubera Private Equity, a Norwegian secondaries specialist.

GIMV appoints Koenraad Dejonckheere as CEO
15/07/2008. Belgian venture capital firm GIMV has appointed Koenraad Dejonckheere as its new CEO, replacing Dirk Boogmans.

Blackstone, Windland to develop North Sea wind farm
15/07/2008. The Blackstone Group has partnered with German wind energy company Windland Energieerzeugungs GmbH to develop North Sea wind farm project Meerwind.

Investor group forms Triton Energy Partners to develop natural gas storage facilities
15/07/2008. Quantum Energy Partners, alongside industry veterans Dr Larry Bickle and Larry Lawyer, has formed Triton Energy Partners, an investment company focused on US gas storage facilities.

Venture capital firms invest $158m in India in Q2 2008
14/07/2008. Venture capital firms invested $158m across 26 deals in India during the three months ending June 2008, down from the $182m (25 deals) in Q1 2008, according to a study by Venture Intelligence in partnership with the US-India Venture Capital Association. The amount was also down from the $163m invested in Q2 2007, although the number of deals was up by one from that quarter.

Blackstone appoints Richard Jenrette to board of directors
14/07/2008. The Blackstone Group has appointed Richard H Jenrette to the firm's board of directors. Jenrette founded investment banking firm Donaldson Lufkin & Jenrette Inc. in 1959 with William Donaldson and Dan Lufkin, and served as DLJ's chairman and CEO.

GIP, Fortistar to acquire Channelview facility for $500m
11/07/2008. Infrastructure-focused private equity firm Global Infrastructure Partners, together with independent power generation company Fortistar, has agreed to acquire the Channelview co-generation facility in the Houston, Texas area from Reliant Energy for $500m plus certain adjustments. The US Bankruptcy Court for the District of Delaware has now approved the agreement.

Gilde to sell Walter Services to Odewald & Compagnie, capiton for €300m
11/07/2008. Dutch buy-out firm Gilde Buy Out Partners has agreed to sell its majority stake in German customer services company Walter Services to Berlin-based mid-market private equity firms Odewald & Compagnie and capiton. The size of the deal was not disclosed, but sources close to the deal said it was over €300m.

Bessemer Venture Partners sets up India advisory group
11/07/2008. US venture capital firm Bessemer Venture Partners has set up an advisory group for its Indian investment team. The advisors will support the team in both deal origination and working with portfolio companies.

Arcapita to invest in Chinese wind farm project
11/07/2008. Bahrain-headquartered investment firm Arcapita Bank has formed a joint venture partnership with Colossus Holdings, a Singapore-based holding company of Indian Tanti group, to acquire Honiton Energy Holdings, a developer and operator of wind power generation facilities in China. Arcapita and Colossus plan to have invested at least $2bn into Honiton by 2012 to develop a 1,650 MW portfolio of wind farms in the Inner Mongolia region. This is Arcapita's first investment in China.

Private equity firms invest $2.8bn in India in Q2
10/07/2008. Private equity firms invested about $2.8bn in 77 Indian companies during the quarter ending June 2008, up from the $1.9bn invested across 74 deals during the same period last year, but down significantly from the $3.6bn and 115 deals in the first quarter of this year, according to Venture Intelligence.

Sovereign Capital hires two new investment professionals
10/07/2008. UK lower mid-market private equity firm Sovereign Capital has hired two new investment professionals, Taha Hasan and Tom Matthews. The appintments bring the number of people in the investment team to 19.

Cleantech venture investment reaches record $2bn in second quarter
10/07/2008. Cleantech venture investment in North America, Europe, China and India has reached a record $2bn in Q2 2008, according to The Cleantech Group. The $2bn were invested across 96 companies. The previous record quarter was Q3 2007, which saw $1.8bn invested.

Wellington opens Palo Alto office
10/07/2008. European venture capital firm Wellington Partners has opened a new office in Palo Alto, California - the firm's fourth and its first outside Europe. The US office will help the firm's portfolio companies expand into the US market.

Intel Capital leads €85m investment in solar panel manufacturer Sulfurcell
10/07/2008. Technology-focused venture capital investor Intel Capital has invested €24m as part of an €85m equity investment round in German solar panel company Sulfurcell. Other investors include Climate Change Capital Private Equity, AIG, Demeter Partners, Zouk Ventures, BankInvest and existing investors.

Jay Powell joins GEF as managing partner
10/07/2008. Washington, DC-based private equity firm Global Environment Fund has appointed former Carlyle partner Jay Powell as a managing partner. Powell will be responsible for growth capital and private equity investments in North America.

Bowmark sells Education and Adventure Travel to DLJMB for £100m
09/07/2008. UK mid-market private equity firm Bowmark Capital has exited its investment in UK school travel group Education and Adventure Travel (EAT), through the sale to private equity firm DLJ Merchant Banking Partners for £100m. The sale generated a return of more than four times cost and an IRR of 63 per cent on Bowmark's total outlay of £18m, according to the firm.

Longitude closes inaugural life sciences fund on $325m
09/07/2008. Life sciences venture capital firm Longitude Capital has closed its Longitude Venture Partners fund on $325m, exceeding its target of $250m.

Sir Ronald Cohen backs MBO of International Asset Management from Fortis
09/07/2008. Apax Partners co-founder Sir Ronald Cohen, together with financial services firm Jefferies Group, has backed the MBO of fund of hedge funds manager International Asset Management from Fortis Investments. The deal follows the merger of Fortis and ABN AMRO Asset Management on 1 April 2008.

EQT acquires Swedish retail chain Granngården
09/07/2008. Nordic private equity firm EQT Partners has acquired Swedish retail chain Granngården from farmer's collective Lantmännen. The investment was made from the firm's €352m EQT Opportunity fund, which closed in January 2006.

Carlyle appoints David Balint as director, Carlyle Asia Leveraged Finance Group
09/07/2008. The Carlyle Group has appointed David Balint as a director of the Carlyle Asia Leveraged Finance Group, based in Sydney. He will manage the team's investment strategy in Australia and New Zealand, reporting to Eric R Mason, head of the Carlyle Asia Leveraged Finance Group.

Baring Private Equity Asia's new £190m offer for Nord Anglia succeeds
08/07/2008. Baring Private Equity Asia has agreed to acquire education and training provider Nord Anglia in a deal worth approximately £190m. Baring previously had a £180m offer rejected by the company.

J Mikesell Thomas joins Castle Creek as principal
08/07/2008. US private equity firm Castle Creek Capital has appointed J Mikesell Thomas as a principal.

NGP Energy appoints Dr Anas Alhajji as chief economist
08/07/2008. NGP Energy Capital Management has added Dr Anas F Alhajji, an economist specialising in the energy sector, as chief economist in its investment team. Dr Alhajji will lead the firm's macro-analysis of the oil, natural gas and related markets.

CVC opens Beijing office, appoints Zhu Wei managing director
08/07/2008. CVC Capital Partners has established an office in Beijing, to be headed by Zhu Wei, who has joined the firm as a managing director.

Carlyle invests $87m in Sinorgchem
08/07/2008. The Carlyle Group has invested $87m in Chinese rubber antioxidant chemical producer Sinorgchem (Group) Co.

US private equity fundraising in H1 sees first decline since 2003
08/07/2008. US private equity firms raised $132.7bn across 185 funds in the first six months of 2008, down from the $137.2bn raised by 199 funds during the first half of 2007, according to Dow Jones Private Equity Analyst.

Atlantic Coast Regional Fund holds $75m first closing
08/07/2008. Africa-focused private equity firm Advanced Finance & Investment Group (AFIG) has held a first closing on its Central and West Africa-focused fund, Atlantic Coast Regional Fund, on $75m. The fund has a target of $150m.

Bain Capital, Blackstone, NBC Universal to acquire The Weather Channel for $3.5bn
07/07/2008. Bain Capital and The Blackstone Group have teamed up with media and entertainment company NBC Universal to acquire The Weather Channel from Landmark Communications. Financial terms have not been disclosed, but have been reported to be around $3.5bn.

BCE deal in final stages
07/07/2008. The BCE deal has come yet another step closer to completion. The consortium, comprised of Teachers' Private Capital, Providence Equity Partners, Madison Dearborn Partners and Merrill Lynch Global Private Equity, has obtained CAN$51bn in financing for the deal.

Technology investment specialist Mike Chalfen joins Advent Ventures
07/07/2008. European mixed stage venture capital firm Advent Venture Partners has appointed Mike Chalfen as a general partner in the technology sector team. Chalfen will join three other partners in the team: Peter Baines, Frédéric Court and Martin McNair. The firm said that the latest hire would complete 'the process of generational change' in the technology team and that it was planning to further expand the team later this year.

Wellington Partners hires LinkedIn co-founder Eric Ly as venture partner
04/07/2008. European venture capital firm Wellington Partners has hired LinkedIn co-founder Eric Ly as a venture partner. Ly will work with Wellington portfolio companies, principally in the field of internet services, focusing on social networking and social media applications, product development, technology scalability and viral marketing strategies. He will also be involved in business development and deal origination.

HM Capital closes $780m fund
04/07/2008. Dallas, Texas-based HM Capital Partners has confirmed that its has closed its sixth mid-market buy-out fund on $780m, with the participation of limited partners such as the Los Angeles City Employees' Retirement System, the Oklahoma Police Pension & Retirement Scheme and the New Mexico State Investment Council.

CDC commits $150m to new private equity funds in Africa
04/07/2008. UK government-backed private equity emerging markets fund of funds investor CDC Group has committed a total of $149.8m to six private equity funds in Africa. The funds are expected to raise a combined $479m for investment in the region.

F&C closes mid-market fund of funds for Europe on €173m
04/07/2008. F&C has closed its European-focused mid-market private equity fund of funds, F&C European Capital Partners, on €173m.

Informa confirms $4.3bn approach by Providence, Carlyle, Hellman & Friedman
04/07/2008. Informa, the UK-based media and conference firm, has confirmed that it has received a buy-out proposal from a consortium comprised of Providence Equity, The Carlyle Group and Hellman & Friedman.

Swiss firm Capital Dynamics opens office in Munich
03/07/2008. Capital Dynamics, a Zug-headquartered asset management firm with an exclusive focused on private equity, has opened a new office in Munich to expand its activities in the German market. Dr Katharina Lichtner, one of the founders of Capital Dynamics, will lead the German team as managing director.

Stone Point to acquire Fiserv's insurance businesses for $540m
03/07/2008. Greenwich, Connecticut-based Stone Point Capital has agreed to acquire a 51 per cent interest in the insurance businesses of IT services provider Fiserv, Inc. for $540m. Stone Point will make the investment from its Trident IV fund.

Penn National Gaming, PNG Acquisition Company terminate merger agreement
03/07/2008. The $6.1bn buy-out of US casino and racetrack operator Penn National Gaming is the latest victim of the credit crunch. New York-headquartered private equity firms Fortress Investment Group and Centerbridge Partners negotiated the deal shortly before the credit crisis, which also influenced the outlook for the gaming industry overall.

Hicks Acquisition, Blackstone to take Graham Packaging public in $3.2bn deal
02/07/2008. Hicks Acquisition Company I, a Dallas-based special purpose acquisition company founded and headed by Thomas O Hicks, The Blackstone Group and the Graham Group, have agreed to take York, Pennsylvania-based Graham Packaging Holdings public. The transaction is valued at approximately $3.2bn.

Lone Star to acquire CIT's Home Lending business for $5.9bn
02/07/2008. Lone Star Funds, the Dallas-based group of private equity funds, has agreed to acquire the Home Lending business of commercial finance company CIT Group Inc. for $1.5bn in cash and the assumption of $4.4bn of outstanding debt and related liabilities.

Venture capital investors remain positive about US biotech in Q2 2008
02/07/2008. A total of 143 US biotech companies attracted a combined $1bn in venture capital financing in the second quarter of 2008, according to the latest edition of the Burrill Biotechnology Report, released by Burrill & Company.

AXA Private Equity opens Zurich office
02/07/2008. AXA Private Equity, an AXA Investment Managers company, has opened a new office in Zurich, led by Martin Kessi. It is the firm's seventh office.

IFC InfraVentures makes first investment
01/07/2008. IFC, a member of the World Bank Group, and Reykjavik Energy Invest have agreed to jointly explore and subsequently develop geothermal resources in Djibouti. This is going to be the first investment from the $100m IFC InfraVentures fund, which was established to support the development of infrastructure in the world's poorest countries. The Djibouti project is located in the geothermal area of Lake Assal in Africa.

US VC-backed companies see worst quarter for exits since 2003
01/07/2008. There were no IPOs of US venture-backed companies in the second quarter of 2008 and liquidity generated via M&As fell to $4.7bn with just 56 transactions completed from the $8.8bn generated via 97 M&As in the second quarter of 2007, according to the Quarterly U.S. Liquidity Report released by Dow Jones VentureSource.

DIC hires Smoot from Morgan Stanley Private Equity
01/07/2008. Dubai International Capital has appointed David Smoot, co-founding partner of Morgan Stanley Private Equity, as managing director, private equity.

Topspin closes $132m lower mid-market buy-out fund
01/07/2008. Long Island-based lower mid-market buy-out firm Topspin Partners has closed its latest buy-out fund, Topspin Partners LBO, on $132m, exceeding its initial target of $100m.

Candover acquires minority stake in Technogym
30/06/2008. European buy-out firm Candover has agreed to acquire a 40 per cent stake in Italian fitness equipment company Technogym from founder-owners Nerio and Pierluigi Alessandri. Financial terms were not disclosed.

Advent to back French fashion retailer Gérard Darel
30/06/2008. Advent International has agreed to acquire French fashion retailer Gérard Darel and support the company's international expansion.

UK firm Rutland hires Kajen Mohanadas as investment analyst
30/06/2008. UK firm Rutland Partners has appointed Kajen Mohanadas as an investment analyst.

Permira, News Corporation intend to take NDS Group private
30/06/2008. NDS Group, majority-owned by News Corporation, has confirmed that it has received a proposal from Permira and News Corporation. The privatisation deal would be worth about $3.6bn.

Blackstone hires financial services specialist Thomas Stoddard
30/06/2008. The Blackstone Group has appointed Thomas D Stoddard to the firm's corporate advisory business as a senior managing director.

Doughty Hanson to acquire Danish company Svendborg Brakes for €460m
27/06/2008. European private equity firm Doughty Hanson & Co has agreed to acquire 100 per cent of Vejstrup, Denmark-headquartered industrial braking systems supplier Svendborg Brakes from the two founder-owners, Erik Skjaerbaek and Jan Struwe, for €460m.

DBL Investors appoints Cynthia Ringo as managing partner
27/06/2008. San Francisco-based venture capital firm DBL Investors has appointed Cynthia Ringo as a managing partner. In her new role, she will help manage all aspects of DBL Investors' operations and investing activity.

Carlyle hires James Burr as managing director, Global Financial Services Group
27/06/2008. The Carlyle Group has appointed James F Burr, the corporate treasurer at Wachovia Bank, as a managing director in its Global Financial Services Group. Burr will be based in New York City.

Intervale Capital closes debut oilfield services buy-out fund on $280m
26/06/2008. Upstream energy-focused private equity firm Intervale Capital has closed its debut buy-out fund, Intervale Capital Fund, on over $280m, surpassing the original target of $200m. The fund targets investments in technology-oriented oilfield service companies.

Oxford Capital hires Richard Hoskins as private client services manager
26/06/2008. UK venture capital firm Oxford Capital Partners has appointed Richard Hoskins, a former retail sales manager at Noble Fund Managers, as private client services manager to develop the distribution of the Enterprise Investment Scheme (EIS) Funds through the intermediary sales channel.

General Atlantic hires Robert Callahan, Dinvar Devitre
26/06/2008. General Atlantic has appointed former ABC president Robert F Callahan and former Altria Group CFO Dinyar S Devitre as special advisors to the firm. Both will provide strategic counsel to GA and its portfolio companies.

UK-based private equity firms invest £32bn in 2007, BVCA report shows
26/06/2008. Investment by member firms of the British Private Equity and Venture Capital Association showed an underlying increase of more than one third in 2007, according to the 2007 Report on Investment Activity published by the BVCA in conjunction with PricewaterhouseCoopers.

AIG Highstar Capital II sells interest in power generation company InterGen
25/06/2008. AIG Investments and Highstar Capital, through their AIG Highstar Capital II fund, have agreed to sell their 50 per cent ownership interest in Netherlands-headquartered power generation company InterGen to Indian infrastructure developer GMR Infrastructure. The transaction is valued at $1.1bn.

Phoenix Equity Partners backs £95.6m Ashtead Technology Rentals buy-out
25/06/2008. Phoenix Equity Partners has agreed to acquire Ashtead Technology Rentals, a provider of rental equipment to the offshore oil and gas sector and the environmental monitoring and testing industry, in a £95.6m transaction. The investment in Ashtead Technology Rentals is the eighth investment from Phoenix's £375m fund raised in April 2006.

Boris Johnson launches London financial services review, with Philip Yea
25/06/2008. Boris Johnson, the new mayor of London, has launched a review of London's financial services to examine how the city can sustain its position as major international financial centre. The review group includes 3i Group chief executive Philip Yea.

First Reserve backs new insurance company Torus with $720m investment
24/06/2008. Energy-focused private equity firm First Reserve Corporation has backed the formation of Torus Insurance Holdings (Bermuda). First Reserve has invested $720m in the new specialist insurance company. Torus senior management is investing in the deal alongside First Reserve.

CDC invests $250m in Indian funds
24/06/2008. UK government-backed private equity emerging markets fund of funds manager CDC Group has made new commitments totalling $250m to three funds focused on infrastructure and real estate investment in India.

Danfonds to launch hybrid hedge fund, private equity vehicle for frontier markets
24/06/2008. Copenhagen-based frontier market specialist Danfonds has incorporated a Cayman-based segregated portfolio company as the vehicle for two funds that it intends to market to Scandinavian institutions.

Black Diamond to sell Bayou Steel for $475m
24/06/2008. Alternative asset management firm Black Diamond Capital Management has sold US structural steel manufacturer Bayou Steel to steel giant ArcelorMittal for $475m.

Ospraie leads $2.8bn acquisition of ConAgra Foods' trading, merchandising ops
24/06/2008. An investor group led by the Ospraie Special Opportunities Fund and including General Atlantic and a private investment fund managed by Soros Fund Management, has acquired the commodity trading and merchandising operations of US packaged food company ConAgra Foods for $2.8bn, net of transaction costs and subject to post-closing adjustments.

Spanish firm SI Capital appoints Guillermo Briones as chairman
24/06/2008. Barcelona-based cleantech private equity firm SI Capital Partners has appointed renewable energy entrepreneur Guillermo Briones as chairman. Briones will take a minority stake in the fund management company.

European private equity performed well in 2007, final EVCA figures confirm
24/06/2008. The European private equity industry in 2007 returned 11.8 per cent on a pooled average basis, net of management fees and carried interest, according to final performance figures for 2007 released by the European Private Equity and Venture Capital Association and compiled by Thomson Reuters.

Starwood Energy closes $433m infrastructure fund
23/06/2008. Energy and power-focused private equity firm Starwood Energy Group Global has closed its first fund, Starwood Energy Infrastructure Fund, on $433m, exceeding its $400m target. Starwood Energy is an affiliate of Starwood Capital Group Global, a Greenwich, Connecticut-based real estate-focused private equity firm.

3i to take 49 per cent stake in Antichi Pellettieri for €118m
23/06/2008. European mid-market buy-out firm 3i has agreed to acquire a 49 per cent stake in the handbags and accessories division of Italian leather goods company Antichi Pellettieri for €118m. Antichi Pellettieri is the leather goods division of Mariella Burani Fashion Group.

Facebook senior executive Matt Cohler joins Benchmark as general partner
23/06/2008. US early stage technology venture capital firm Benchmark Capital has appointed Matt Cohler as a general partner. Cohler will continue to work with Facebook, serving as special advisor to the company's management.

Ashmore launches fifth Global Special Situations Fund
23/06/2008. London-based emerging markets asset manager Ashmore Investment Management has launched a new emerging markets special situations fund, Ashmore Global Special Situations Fund Five.

Supreme Court of Canada reverses Québec court's decision on BCE
23/06/2008. The Supreme Court of Canada has given the go-ahead for the sale of BCE to an investor group led by Teachers' Private Capital, the private investment arm of the Ontario Teachers' Pension Plan, Providence Equity Partners, Madison Dearborn Partners and Merrill Lynch Global Private Equity.

3i sells ABX to DSV
23/06/2008. 3i and other shareholders have agreed to sell XB Luxembourg Holdings 1, the parent of the Brussel-headquartered freight forwarder ABX LOGISTICS Worldwide Group. The aggregate price of the entire share capital, on a debt and cash free basis (enterprise value) is €750m.

Warburg Pincus backs new private investment firm Constitution Medical Investors
23/06/2008. Warburg Pincus is backing the launch of a new firm to acquire healthcare-related platform technologies and companies. Constitution Medical Investors, as the new Boston-based firm is called, will be led by senior healthcare executives Patrick Sullivan and Daniel Levangie.

Mitsui, Challenger launch Emerging Market Infrastructure Fund with $1.2bn target
23/06/2008. Japanese corporation Mitsui & Co and Australia-based financial services firm Challenger Financial Service Group have launched the Emerging Market Infrastructure Fund, with a target size of $1.2bn. The fund will invest in infrastructure assets in emerging market economies.

Warburg Pincus, Blackstone lead $500m investment in Kosmos Energy
23/06/2008. Warburg Pincus and Blackstone Capital Partners, an affiliate of The Blackstone Group, have led a $500m investment round in West African oil company Kosmos Energy.

Investment and fundraising strong in 2007, final EVCA figures confirm
23/06/2008. European private equity firms invested €73.8bn in 2007, up from €71.2bn in 2006, with buy-out investments increasing to €58.3bn from €50.3bn in 2006, while venture investments dropped to €12bn from €17.3bn, according to the final figures for 2007 released by the European Private Equity and Venture Capital Association and compiled by PEREP_Analytics, an independent data-gathering body.

Blackstone to acquire Apria for $1.6bn
20/06/2008. The Blackstone Group has agreed to acquire home healthcare company Apria Healthcare in a deal worth approximately $1.6bn. Apria also entered into a $280m credit facility with Bank of America, Wachovia and Barclays Capital.

3i´s Jonathan Russell takes over from Helmut Schühsler as EVCA chairman
20/06/2008. Jonathan Russell, managing partner buy-outs at 3i, was named the new chairman of the European Private Equity and Venture Capital Association at the EVCA Symposium in Madrid last night. Russell succeeds TVM Capital chairman Helmut Schühsler, who has held the position since June 2007.

USS commits $750m to Constitution Capital Partners
19/06/2008. Newly established private equity fund of funds Constitution Capital Partners has received a $750m commitment from UK pension fund the Universities Superannuation Scheme. Alongside an investment of $600m, USS has committed a $150m warehouse line loan. As part of the deal, USS will take an approximate ten per cent ownership stake in CCP.

CapMan, InnovationsKapital to invest in Crayon Print
19/06/2008. CapMan's CapMan Technology 2007 fund and InnovationsKapital have agreed to invest in Oslo-headquartered IT-consultancy group Crayon, owned by Norwegian company Artix.

FSN Capital closes €375m fund
19/06/2008. Nordic mid-market buy-out firm FSN Capital Partners has closed its latest fund, FSN Capital III, on €375m, above its €300m target. The fund was substantially oversubscribed, according to a statement.

Aquiline hires Mark Rodrigues
19/06/2008. New York based private equity firm Aquiline Capital Partners has hired former Oliver Wyman managing director Mark S Rodrigues. Rodrigues was also global head of strategic information technology and operations at Oliver Wyman, where he advised financial institutions on operations, risk management, sourcing and technical innovation.

Accel-KKR backs launch of new private equity firm M2 Technology Partners
18/06/2008. Menlo Park-headquartered technology private equity firm Accel-KKR is backing the launch of software and services-focused private equity firm M2 Technology Partners. Financial details were not disclosed.

Carlyle appoints Sunil Kaul as senior director
17/06/2008. The Carlyle Group has appointed Sunil Kaul to join Carlyle Asia Partners as a senior director, financial services. Based in Singapore, he will focus on expanding the firm's activities in the financial services sector across the region.

Madrona closes Madrona Venture Fund IV on $250m
17/06/2008. US early stage technology venture capital firm Madrona Venture Group has closed its Madrona Venture Fund IV on $250m, exceeding the initial target of $225m.

US firm Platinum Equity to sell PNA Group in $1.1bn deal
17/06/2008. Platinum Equity has agreed to sell steel company PNA Group to Reliance Steel & Aluminum Co. The transaction is valued at $1.1bn. Return information was not disclosed but Platinum described its investment in PNA as 'very successful'.

Polaris Acquisition to acquire Hughes Telematics in $700m deal
17/06/2008. Polaris Acquisition Corp., a special purpose acquisition corporation, has agreed to acquire Atlanta-based automotive technology solutions company Hughes Telematics in an all-stock transaction valued at approximately $700m. The deal includes an additional $140m in capital to fund the company's growth opportunities, according to a statement.

Venture Investment Associates hires Cliff Gilman, Jennifer Acker Ayer
17/06/2008. US private equity fund of funds Venture Investment Associates has appointed Cliff Gilman and Jennifer Acker Ayer to the firm's investment team and general partner. In their new roles, they will both have responsibilities across all aspects of VIA's business, including working with its managers and limited partners.

Carlyle to acquire De La Rue's Cash Systems for £360m
16/06/2008. The Carlyle Group has agreed to acquire Cash Systems, a Basingstoke, UK-headquartered business that provides cash handling technology, from De La Rue for an enterprise value of £360m.

Hermes Private Equity adds Peter Gissel, Mark Nunny to direct investment team
16/06/2008. Hermes Private Equity, the private equity arm of Hermes Fund Managers, has appointed Peter Gissel as partner and Mark Nunny as investment manager. The two appointments bring the number of investment professionals within the direct investment team at Hermes Private Equity to nine.

Quadrangle to acquire Greenfield Online for $426m
16/06/2008. Media and communications-focused private investment firm Quadrangle Group has agreed to acquire interactive media and services company Greenfield Online in a deal worth approximately $426m.

Hudson Clean Energy Partners hires Shaun Kingsbury
13/06/2008. Renewable energy-focused private equity firm Hudson Clean Energy Partners has appointed Shaun Kingsbury as a partner, based in the firm's London office. In his new role he will be responsible for Hudson's European operations.

Candover, Goldman Sachs, AlpInvest increase Expro offer to £1.8bn
13/06/2008. Candover Partners, Goldman Sachs Capital Partners and AlpInvest Partners, through new acquisition vehicle Umbrellastream, have increased their previously agreed offer for well flow management business Expro to £1.806bn.

Reiten & Co to sell SafeRoad to Nordic Capital
13/06/2008. Oslo-based mid-market private equity firm Reiten & Co and other shareholders have agreed to sell Ørsta, Norway-headquartered traffic safety business SafeRoad to Nordic Capital's Nordic Capital Fund VII. Financial terms were not disclosed.

Industri Kapital renames itself IK Investment Partners
12/06/2008. Mid-market European private equity firm Industri Kapital has changed its name to IK Investment Partners, to reflect its expanded investment and geographical focus.

Waterland closes fourth fund on €800m
12/06/2008. Waterland Private Equity Investments has closed its fourth fund, Waterland Private Equity Fund IV, on its hard cap of €800m. The fund was launched in March of this year.

3i Infrastructure raises £115m for new investments
12/06/2008. 3i Infrastructure, a Jersey-incorporated closed-ended investment company advised by 3i, has raised a further £115m through a placing and open offer of new shares, at 106 pence per share. This is in addition to a £225m credit facility agreed in March.

H.I.G. Capital closes $3bn distressed fund
11/06/2008. H.I.G. Capital's distressed debt affiliate, Bayside Capital, has closed its H.I.G. Bayside II fund on $3bn. The final closing was also a first closing.

China puts $2.5bn into TPG's new fund
11/06/2008. TPG will receive more than $2.5bn from China's State Administration of Foreign Exchange for its new fund, the Financial Times reported.

Phoenix to sell Partnership to Cinven
10/06/2008. UK mid-market private equity firm Phoenix Equity Partners has agreed to sell UK's retirement solutions provider Partnership Group Holdings to a new company funded by Cinven and Partnership's management team, for £150m.

Laurence Tosi to join Blackstone as CFO
10/06/2008. The Blackstone Group has announced that Laurence A Tosi will join the investment and advisory firm as a CFO. Tosi will serve on Blackstone's executive committee.

Silverfleet to make 3.1 times return on Jost World investment
10/06/2008. European private equity firm Silverfleet Capital, formerly known as PPM Capital, has agreed to sell Jost World, a German manufacturer of components for commercial vehicles, to Cinven. Silverfleet expects the deal to result in a 3.1 times money multiple and an IRR of 47 per cent on their original equity investment.

New venture capital firm Amplio launches €50m renewable energy fund
09/06/2008. Newly formed renewable energy venture capital firm Amplio Partners has launched its inaugural fund, targeted at €50m. The management team will put approximately €10m into the fund, a source told AltAssets.

21 Centrale Partners to back €74m Club Med Gym MBO
09/06/2008. 21 Centrale Partners, the French arm of Franco-Italian mid-market buy-out house 21 Group, has agreed to back the MBO of Club Med Gym from Group Club Méditerranée. 21 Centrale Partners and the company's management will acquire 80 per cent of Club Med Gym for €74m.

Tuninvest closes €125m fund for Algeria, Morocco, Tunisia
09/06/2008. Tunisia-based private equity house Tuninvest has closed its latest fund, Maghreb Private Equity Fund II, on €124.5m. The fund held three interim closings, in June 2006, January 2008 and April 2008. It had an initial target of €80-100m.

Aurelia, European Founders Fund, United Internet Beteiligungen sell Bigpoint
09/06/2008. Aurelia Private Equity, European Founders Fund and United Internet Beteiligungen have agreed to sell a majority stake in Hamburg, Germany-based online multi-player games company Bigpoint to media and communications sector-focused private equity firm GMT Communications Partners, Peacock Equity Fund and the company's management. The deal is valued at €70m.

Clayton, Dubilier & Rice hires manufacturing industry veteran Fred Kindle as partner
06/06/2008. Clayton, Dubilier & Rice has appointed former ABB president and CEO Fred Kindle as a partner.

Apax, Madison Dearborn, TA buy €1.1bn stake in Weather Investments
06/06/2008. A consortium of private equity firms comprising Apax Partners, Madison Dearborn Partners and TA Associates has acquired a ten per cent stake in telecommunications company Weather Investments for €1.1bn.

Fidelity Equity Partners hires Bain Capital's Ian Blasco as partner
05/06/2008. Mid-market private equity firm Fidelity Equity Partners has appointed former Bain Capital principal Ian Blasco as a partner. Based in the firm's Boston office, Blasco will focus on the technology, communications and business services sectors.

RockPort closes $450m cleantech fund
05/06/2008. Cleantech-focused venture capital firm RockPort Capital Partners has closed its third fund, RockPort Capital Partners III, on over $450m, the hard cap of the fund. It had an initial target of $400m and held a first closing just three weeks ago, on $400m.

ISIS sells SLR Consulting to 3i for £100m
04/06/2008. UK lower mid-market buy-out firm ISIS Equity Partners has sold its shareholding in UK environmental consultancy SLR Holdings to 3i in a secondary buy-out worth about £100m. The sale generates a six times multiple and an IRR of 72 per cent, ISIS said in a statement.

Björn Savén appointed executive chairman at Industri Kapital
04/06/2008. European mid-market private equity firm Industri Kapital has appointed Björn Savén as its new executive chairman.

CVC to acquire €2.4bn stake in German company Evonik
04/06/2008. CVC Capital Partners, which has had an office in Frankfurt since 1986, has agreed to acquire a 25.01 per cent stake in German chemicals, energy and real estate company Evonik Industries from the state-controlled RAG Foundation, the sole shareholder of the business to date, for approximately €2.4bn.

AXA Private Equity closes AXA LBO Fund IV on €1.6bn
04/06/2008. European private equity firm AXA Private Equity has closed its fourth LBO fund, AXA LBO Fund IV, on its hard cap of €1.6bn. The fund will invest primarily in mid-sized companies in France, Germany and Italy.

L Capital to acquire Princess Yachts
04/06/2008. L Capital, an investment group sponsored by luxury brand group LVMH and Groupe Arnault, the investment vehicle of French billionaire Bernard Arnault, has agreed to acquire high-end yacht company Princess Yachts International for a reported £200m.

Adveq Opportunity II closes on $457.5m
03/06/2008. Zurich, Switzerland-based private equity fund of funds manager Adveq has closed its latest fund, Adveq Opportunity II, on $457.5m. Adveq set up the Opportunity Program in May 2005 to pursue special investment strategies outside the traditional private equity sectors of venture capital and buy-outs in the US.

New Jersey State Investment Council commits $850m to funds
03/06/2008. The New Jersey State Investment Council has agreed commitments totalling $850m to five different buy-out and debt-related funds.

Gresham hires Dan Hatcher as investment partner
02/06/2008. UK mid-market buy-out firm Gresham has appointed Dan Hatcher as a partner in its investment team, based in the firm's London office.

Barclays Private Equity acquires Novem
02/06/2008. European mid-market buy-out firm Barclays Private Equity, alongside company management, has acquired vehicle interiors business Novem Group. Barclays Private Equity is acquiring an 85 per cent stake, while Novem management is taking a 15 per cent stake. Financial details were not disclosed. However, Barclays Private Equity said that Novem has an annual turnover of approximately €300m.

TPG to invest £179m in Bradford & Bingley
02/06/2008. US private equity firm TPG Capital has agreed to invest approximately £179m in UK mortgage lender Bradford & Bingley for a 23 per cent stake in the company. TPG is becoming the company's largest single shareholder.

Henri-Paul Rousseau to step down as CEO of Caisse
02/06/2008. Canadian institutional fund manager Caisse de dépôt et placement du Québec has announced that its president and CEO is to step down to go into the private sector. Henri-Paul Rousseau will join Power Corporation of Canada. He has been with the Caisse since September 2002.

Danske PEP IV holds first closing on €521m
30/05/2008. Copenhagen-based fund of funds manager Danske Private Equity has held a first closing on its Danske Private Equity Partners IV fund on €521m. The fund anticipates further closings beyond its initial target of €600m, with a final closing by the end of this year. Danske PEP IV has a hard cap of €800m.

Duke Street appoints Mitchells & Butlers deputy chairman Hall as operating partner
30/05/2008. London and Paris-based mid-market buy-out firm Duke Street Capital has appointed Drummond Hall as a new operating partner. In his new role, Hall will work on deal origination and assist the Duke Street team with due diligence and the monitoring of portfolio investments.

Pacific Equity Partners buys American Stock Transfer & Trust Company
30/05/2008. Australasian private equity firm Pacific Equity Partners has acquired share registry business American Stock Transfer & Trust Company. Reports have suggested a deal size in the region of $1bn. The firm made the investment from its PEP IV fund.

Synova hires Paul Myners as investment committee chairman
30/05/2008. UK lower mid-market private equity firm Synova Capital has appointed Paul Myners as chairman of its investment committee.

Caltius Partners IV closes on $500m
30/05/2008. Los Angeles-headquartered mezzanine firm Caltius Mezzanine has held a first and final closing on its fourth mezzanine fund, Caltius Partners IV, on $500m, the hard cap of the fund. It had an initial target of $400m.

21 Centrale Partners sells Averys
30/05/2008. 21 Centrale Partners has sold European storage systems company Averys to LBO France. 21 Centrale Partners took Averys private in 2005. The deal values the company at €180m.

Teachers' Private Capital hires Rakesh Gangwal as senior advisor
29/05/2008. Teachers' Private Capital, the private equity arm of the Ontario Teachers' Pension Plan, has hired Rakesh Gangwal as a senior advisor. In his new role, Gangwal will be primarily responsible for sourcing and evaluating technology and business services transactions. He will provide both strategic counsel and portfolio support.

Hunt Ventures closes inaugural fund on $140m
29/05/2008. Dallas-based early stage technology-focused venture capital firm Hunt Ventures has closed its inaugural fund, Hunt Ventures Fund I, on its target of $140m.

Denham closes $2bn fund
29/05/2008. Energy and commodities-focused private equity firm Denham Capital Management has closed its latest fund, Denham Commodity Partners Fund V, on $2bn, the hard cap of the fund. The original fundraising target was $1.75bn.

Electra Partners team raises fund to invest alongside Electra Private Equity
28/05/2008. Electra Partners has closed a £100m fund to invest alongside its principal client, Electra Private Equity. Electra Partners expects to have €1bn to invest over the next few years.

GGV hires IT expert Jeff Richards, consumer sector specialist Jia Fen Wang
28/05/2008. US and China-focused expansion stage venture capital firm GGV Capital, formerly Granite Global Ventures, has hired two operating executives to its investment team. Jeff Richards, most recently vice president of digital content services at VeriSign, joins the firm as a partner, while Jia Fen Wang, chairperson of Bright Dairy & Food Company in China, will be a venture partner at GGV.

CapMan to acquire Russian private equity house Norum
28/05/2008. CapMan, a European firm with Nordic roots, has agreed to acquire management companies of Norum Russia Fund III from the company's senior management, DnB NOR Bank and Sitra Management.

Edmond de Rothschild Investment Partners closes BioDiscovery 3 on €150m
27/05/2008. Paris-based private investment firm Edmond de Rothschild Investment Partners has closed its third European life sciences-focused venture capital fund, BioDiscovery 3, on its target of €150m. This was a first and final closing. The firm has opened a greenshoe of up to ten per cent for additional investors.

Balderton Capital hires Dharmash Mistry as partner
27/05/2008. London-based venture capital firm Balderton Capital has hired Dharmash Mistry as a partner. In his new role, he will focus on new investment opportunities in the media, retail and consumer goods sectors, and will also work with the firm's existing portfolio companies.

Qiming Venture Partners closes $320m venture capital fund for China
27/05/2008. Shanghai-based venture capital firm Qiming Venture Partners has closed its second fund, Qiming Venture Partners II, on $320m, exceeding its target of $300m. The fund will continue the firm's focus on early stage and select growth and expansion stage investments in the healthcare, technology, media and internet and consumer sectors.

EIF launches investment programme for Portugal
27/05/2008. Following its new investment initiative for Turkey, the European Investment Fund has teamed up with Portuguese financial institutions and the Portuguese state to launch the Portugal Venture Capital Initiative (PVCi), a €111.3m dedicated fund of funds and co-investment programme. PVCi will be advised by EIF.

Smaller, fewer venture capital deals in India cause drop in Q1 investment levels
23/05/2008. Venture capital investment in India fell to $99m across 16 deals in the first quarter of this year, according to the Quarterly India Venture Capital Report released by Dow Jones VentureSource. The amount invested represents a 27 per cent drop from the fourth quarter that saw a record $135m put into 17 deals.

US firm Craton closes debut cleantech fund
23/05/2008. Los Angeles-based Craton Equity Partners has completed a third and final closing its debut fund on $191.5m. The fund held a first closing on $82.5m in December 2006. It had an original target of $200m and hard cap of $250m, the firm told AltAssets.

Boris Johnson names CVC's Tim Parker deputy mayor
23/05/2008. Boris Johnson, the mayor of London, has appointed Tim Parker, industrial partner at CVC Capital Partners, as deputy mayor and chief executive of the GLA Group. Johnson will also nominate Parker to be chairman of Transport for London from September. Parker has agreed to take no salary.

Venture capital firm LSP to sell German biotechnology company U3 Pharma
22/05/2008. European venture capital firm LSP (Life Sciences Partners) has agreed to sell U3 Pharma, a Martinsried, Germany-based biotechnology company focusing on research into antibodies for the treatment of cancer, to Japanese pharmaceutical company Daiichi Sankyo in a transaction valued at €150m.

Battery hires Gautam Patel to strengthen India team
22/05/2008. Technology venture capital and private equity firm Battery Ventures has hired Gautam Patel as a partner. Patel will focus on investments in India, alongside investment professional Ramneek Gupta and Battery general partner Mark Sherman.

Lion Capital to go for Russian Alcohol
22/05/2008. London-based private equity firm Lion Capital has agreed to acquire a majority stake in Moscow-headquartered Russian Alcohol Group from Russian investment company Industrial Investors. Central European Distribution Corporation, a major vodka producer in Poland and Russia, and Goldman Sachs will also invest in Russian Alcohol alongside Lion Capital.

BCE: would-be record buy-out blocked by Québec court
22/05/2008. The investor group led by Teachers' Private Capital, the private investment arm of the Ontario Teachers' Pension Plan, Providence Equity Partners, Madison Dearborn Partners and Merrill Lynch Global Private Equity, has had its BCE privatisation deal blocked by the Québec Court of Appeal. The court decided in favour of BCE bondholders who claimed that the deal was unfair to them.

Providence to invest $640m in Indian communications company ABTL
22/05/2008. Providence Equity Partners has agreed to invest $640m in Indian wireless communications company Aditya Birla Telecom Limited, a wholly-owned subsidiary of GSM mobile services operator and Providence portfolio company Idea Cellular.

Investor group puts $2.46bn into XOJET
22/05/2008. California-based private jet business XOJET has secured up to $2.46bn of financing. Investors include Tasameem Real Estate Company, TPG, Export Development Canada, financial services firm White Oak Global Advisors and XOJET founder Paul Touw.

Permira hires Riccardo Ruggiero as senior adviser
21/05/2008. Permira has appointed former Telecom Italia CEO Riccardo Ruggiero as a senior adviser. In his new role, Ruggiero will support Permira in identifying investment opportunities across a number of sectors with a specific focus on the technology, media and telecommunications industry (TMT). He will also advise the firm on maximising value creation in its existing portfolio companies.

Gruppo Banca Leonardo acquires stake in BS Private Equity, invests €20m in new fund
21/05/2008. Private investment bank Gruppo Banca Leonardo has acquired 20 per cent of Italian private equity firm BS Private Equity for an undisclosed amount. The deal includes an option to buy the remaining 80 per cent of the firm in the future, according to a statement.

CDC commits $650m to Actis emerging markets funds
21/05/2008. UK government-backed private equity emerging markets fund of funds investor CDC Group has committed $650m to Actis's third series of emerging markets funds, Actis Emerging Markets 3. The series of funds comprises a global fund and four regional investment pools targeted at Africa, South Asia, China and Latin America.

Capricorn closes €100m cleantech fund
21/05/2008. European technology venture capital firm Capricorn Venture Partners has closed its Capricorn Cleantech Fund on €101m. The fund had an initial target of between €50m and €75m, which was extended to between €75m to €100m following the fund's first closing.

Venture capital investment in China up to $719m in first quarter
21/05/2008. Venture capital investment in China was up to $719m across 39 deals during the first quarter of 2008 from $492m in the first quarter of 2007, with media and advertising companies accounting for the bulk of deal activity and investment, according to the China Quarterly Venture Capital Report released by Dow Jones VentureSource. However, deal count was the lowest the region has seen in three years.

TIIC holds €137.5m first closing
21/05/2008. Transport Infrastructure Investment Company, an infrastructure investment vehicle sponsored by Brisa, Millennium Investment Banking and Compagnie Benjamin de Rothschild, has completed a €137.5m first closing. The fund has a target of €500m.

CII consortium is preferred bidder for Pennsylvania Turnpike lease
20/05/2008. Citi Infrastructure Investors, a unit of Citi Alternative Investments, together with European infrastructure manager Abertis Infraestructuras and investment group Criteria CaixaCorp, a major shareholder of Abertis, has been named the preferred bidder for the 75-year lease of the Pennsylvania Turnpike. If completed, the deal will be worth approximately $12.8bn.

Granite Global Ventures renames itself GGV Capital
20/05/2008. Granite Global Ventures, an expansion stage venture capital investor in the US and China, has renamed itself GGV Capital.

Aquiline, New Mountain, TPG establish $1.75bn commercial finance company Tygris
20/05/2008. US private equity firms Aquiline Capital Partners, New Mountain Capital and TPG Capital have established commercial finance company Tygris Commercial Finance Group, with over $1.75bn in equity commitments. Other investors include Diamond Castle Holdings and Hamilton Lane.

Carlyle acquires majority stake in ITS Technologies
20/05/2008. The Carlyle Group has acquired a majority interest in intermodal facilities operator ITS Technologies & Logistics from Lanigan Holdings, for an undisclosed sum. The Lanigan family will retain a significant minority equity stake in the company.

Macquarie Funds Management hires cleantech expert Kurt Faulhaber
20/05/2008. Macquarie Funds Management has appointed Kurt Faulhaber as vice president, Macquarie Funds Management (USA). In his new role, Faulhaber will assist in the management of Macquarie's cleantech private equity portfolios.

NESTA supports new Web Science Research Initiative
20/05/2008. The National Endowment for Science, Technology and the Arts has teamed up with Sir Tim Berners-Lee, the inventor of the World Wide Web, to support a new Web Science Research Initiative (WSRI), NESTA announced at its largest innovation conference to date.

SSCP, Sirius to acquire Italian company Jeckerson in €140m deal
19/05/2008. European mid-market private equity firm Stirling Square Capital Partners and retail industry-focused investment firm Sirius Equity have agreed to back the MBO of Bologna-based sportswear company Jeckerson from Blue Fashion Group. The transaction values Jeckerson's enterprise and equity at €140m and €125m, respectively.

CIPEF closes $2.25bn emerging markets private equity fund
19/05/2008. Capital International Private Equity Funds, the emerging markets private equity arm of institutional investment manager Capital International, has closed its Capital International Private Equity Fund V fund on $2.25bn, exceeding its original target of $1.5bn.

CapMan to acquire Cederroth
19/05/2008. CapMan has agreed to acquire European company Cederroth International from American listed company Alberto-Culver Company for an undisclosed sum.

TPF to sell Caledonia Energy Partners
19/05/2008. Tenaska Capital Management, manager of the Tenaska Power Fund, alongside other owners, has agreed to sell Caledonia Energy Partners, owner of gas storage facility Caledonia Gas Storage Field in Northeast Mississippi, to ENSTOR, the Houston-based natural gas storage unit of Spanish-listed IBERDROLA RENEWABLES, part of the Spanish utility Iberdrola group of companies.

Private equity fund returns outperform stock market, says BVCA
19/05/2008. Long-term returns from UK private equity funds have improved over the past year, according to the 2007 Performance Measurement Survey summary results published by the British Private Equity and Venture Capital Association in conjunction with PricewaterhouseCoopers and Capital Dynamics.

Blackstone announces first quarter loss
16/05/2008. The Blackstone Group recorded a net loss of $251m in the first quarter of this year, due to the difficult situation especially larger buy-out houses are finding themselves in as a result of the credit crunch last summer.

Carlyle to acquire Booz Allen's US government consulting business for $2.54bn
16/05/2008. The Carlyle Group has agreed to buy a majority stake in Booz Allen Hamilton's US government consulting business for $2.54bn.

KKR establishes new infrastructure investment initiative
16/05/2008. Kohlberg Kravis Roberts & Co. has established a new initiative to invest in infrastructure assets on a global basis. The initiative will be led by former Lazard managing director George Bilicic, who is joining the firm as a managing director and head of infrastructure, based in the firm's New York office.

Aureos strikes cooperation agreement with Costa Rica's junior stock market
15/05/2008. Aureos Capital's Emerge Central America Growth Fund (EMERGE) has signed a cooperation agreement with Carlos Mora de la Orden, authorised sponsor of Costa Rica's junior stock market MAPA.

Carlyle teams up with Shandong Province in China to increase investment in the region
14/05/2008. The Carlyle Group and the Department of Foreign Trade and Economic Cooperation of Shandong Province (SDFTEC) have entered into a memorandum of understanding to enhance trade co-operation and stimulate investment in the province.

Bain Capital, THL now pay $36 per share to complete Clear Channel buy-out
14/05/2008. The legal dispute over financing the buy-out of Clear Channel Communications appears to be resolved. Bain Capital Partners and Thomas H. Lee Partners, supported by a banking consortium, have now agreed to acquire Clear Channel for $36 per share per share or approximately $17.9bn, down from the original $37.60 per share and the later revised $39.20 per share.

Legatum, Omidyar Network invest $40m in Unitus Equity Fund II
14/05/2008. Socially responsible investment firm Legatum and philanthropic investment firm Omidyar Network have invested $20m each in Unitus Equity Fund II.

Merlin Nexus holds first closing on third life sciences fund
14/05/2008. New York-based life sciences investment firm Merlin Nexus has announced that its Merlin Nexus III fund has completed a first closing. The fund has raised $40m. It has a $125m target.

GSC Group to acquire Complete Energy for $1.3bn
13/05/2008. GSC Acquisition Company, a special purpose acquisition company managed by alternative asset manager GSC Group, has agreed to acquire independent US power producer Complete Energy Holdings in a deal that values the company at $1.3bn.

Fewer but larger venture capital deals in Europe in first quarter
13/05/2008. Venture capitalists in Europe invested €1.14bn across just 180 deals in the first quarter of 2008. This marks the lowest overall deal total on record, according to the quarterly European Venture Capital Report released by Dow Jones VentureSource.

Baring Private Equity Asia closes fourth fund on $1.5bn
13/05/2008. Baring Private Equity Asia has closed its fourth fund, Baring Asia Private Equity Fund IV, on $1.515bn, exceeding its original target of $1bn.

Pfingsten Partners closes $525m fund
12/05/2008. Chicago-headquartered lower mid-market private equity firm Pfingsten Partners has closed its fourth fund, Pfingsten Partners Fund IV, on $525m, exceeding its original target of $400m.

Sustainability expert Adam Black joins Doughty Hanson as associate
12/05/2008. European private equity firm Doughty Hanson & Co has appointed Adam Black to take on responsibility for addressing sustainability matters within the firm and, in particular, for advising portfolio companies on environmental, social and governance issues to enhance the value of those investments.

GP Investments to acquire R$259m stake in Brazilian company Estácio
12/05/2008. Latin American private equity firm GP Investments has agreed to acquire a 20 per cent stake in listed Brazilian educational company Estácio Participações from the founders of the business. The total value of the transaction is R$259m (US$155m), or R$5.50 per share (equivalent to R$16.50 per unit), according to a statement.

Tenaska, Warburg Pincus to sell US generating facilities
12/05/2008. Tenaska Power Fund and Warburg Pincus have agreed to sell APT Generation, a portfolio of three electric generating plants in Pennsylvania, West Virginia and Ohio. In a separate transaction, TPF has also agreed to sell the Calumet Energy Power Station, a 303-megawatt power plant in Chicago.

GIP closes first fund on $5.6bn
12/05/2008. Global Infrastructure Partners has closed its inaugural fund on $5.64bn. The firm did not disclose the original target of the fund.

Lightspeed closes $800m venture capital fund
12/05/2008. Lightspeed Venture Partners has closed Lightspeed Venture Partners VIII on $800m. The fund had an original target of $675m.

RIM, RBC, Thomson Reuters to anchor $150m mobile applications and services fund
12/05/2008. Research In Motion, Canadian RBC and Thomson Reuters are planning to launch a $150m venture capital fund to invest in mobile applications and services for the BlackBerry and other mobile platforms. The BlackBerry Partners Fund is to be co-managed by JLA Ventures and RBC Venture Partners.

Morgan Stanley closes $4bn global infrastructure fund
12/05/2008. Morgan Stanley has closed its Morgan Stanley Infrastructure Partners fund on $4bn, well above its initial $2.5bn target.

NVCA, NewSchools Venture Fund launch fund to improve US education system
12/05/2008. The US National Venture Capital Association and NewSchools Venture Fund have established a multi-million-dollar philanthropic venture fund focused on improving education in the US.

Carlyle to acquire NH Techno Glass
12/05/2008. The Carlyle Group has agreed to buy a majority stake in NH Techno Glass, a manufacturer of LCD glass substrates that is a 50-50 joint venture of HOYA Corporation and Nippon Sheet Glass Co.

GMT hires Ian McKenzie, Maria Trokoudes
09/05/2008. Communications-focused private equity firm GMT Communications Partners has appointed Ian McKenzie as senior advisor and Maria Trokoudes as a senior associate.

Lime Rock Partners V closes on $1.4bn
09/05/2008. Energy-focused private equity firm Lime Rock Partners has closed its fifth fund, Lime Rock Partners V, on $1.4bn.

3i invests in German DruckChemie
09/05/2008. 3i has agreed to back the €133m secondary buy-out of Ammerbuch, Germany-headquartered DruckChemie, a speciality service provider to the printing industry, from SG Capital Europe and Quartus.

Sterling Stamos hires Robert Goodman to head private equity activities
09/05/2008. Sterling Stamos Capital Management has appointed former vice chairman of Deutsche Asset Management Robert Goodman as global head of private equity and real assets.

Carlyle buys chemicals Greek distribution company Neochimiki
09/05/2008. The Carlyle Group has acquired 73.54 per cent of the shares of Neochimiki L.V. Lavrentiadis S.A. Industrial and Commercial Company for €19 per share. The transaction values the company at €749m.

American Capital Strategies opens second Boston office, expands sponsor finance group
08/05/2008. American Capital Strategies has opened a second office in the Boston area to expand its sponsor finance group's investment activities. The new office will be led by Tim Robinson, who the firm has appointed as a principal. In his new role, he will be joined by David Morris as vice president and Dan Hodges as associate.

LGV appoints Ivan Heywood as chief executive
08/05/2008. UK mid-market buy-out firm LGV Capital has appointed Ivan Heywood as its new chief executive. Heywood will succeed Adrian Johnson, who has been chief executive of the firm since July 2000.

Sameer Gandhi joins Accel Partners
08/05/2008. Silicon Valley venture capital firm Accel Partners has appointed former Sequoia Capital partner Sameer Gandhi as a partner in its Palo Alto office.

Oxford Capital launches fifth venture capital fund
07/05/2008. Oxford-based venture capital firm Oxford Capital has launched its fifth Oxford Gateway Enterprise Investment Scheme Fund. The firm expects that it will be open to new investors for about a year. It aims to raise between £15m and £20m for the new vehicle.

First Reserve, Schlumberger to acquire Saxon Energy Services
07/05/2008. Sword Canada Acquisition Corporation, an acquisition vehicle jointly owned by oilfield service company Schlumberger and energy-focused private equity firm First Reserve Corporation, has agreed to acquire drilling and well servicing business Saxon Energy Services for CAN$7 per share. The deal values the company at CAN$592m.

Activa invests in Sport 2000
07/05/2008. Paris-based private equity firm Activa Capital has agreed to take a 37 per cent stake in French sports retailer Sport 2000. Financial terms of the deal were not disclosed.

DIC appoints Mark Lunn as managing director, corporate communications
07/05/2008. Dubai International Capital, the international investment arm of Dubai Holding, has appointed Mark Lunn as managing director, corporate communications.

Split Rock closes $300m fund
07/05/2008. US venture capital firm Split Rock Partners has closed its Split Rock Partners II fund on $300m. All of the investors from Split Rock's first fund returned as investors in the new fund, the firm said in a statement.

Partners Group opens China office
07/05/2008. Switzerland-based alternative asset manager Partners Group has opened an office in Beijing. The new location adds to the firm’s existing network of offices in Zug (headquarters), San Francisco, New York, London, Guernsey, Luxembourg, Singapore, Tokyo and Sydney.

Silver Lake Sumeru closes on $1.1bn
07/05/2008. Silver Lake has closed Silver Lake Sumeru, the firm's inaugural mid-market investment fund, on $1.1bn.

Actis adds three to infrastructure team
07/05/2008. Emerging markets private equity firm Actis has appointed three new directors to its global infrastructure business. Robert McGregor will be based in the firm's Singapore office to head the South East Asia region, where he will be joined by Vivek Dixit. Sanjiv Aggarwal will join the firm's Delhi office to lead Actis's infrastructure business in South Asia.

KPCB closes two funds
07/05/2008. Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers has closed its latest early stage fund, KPCB XIII Fund, on $700m. The firm has also announced the closing of its growth-stage investment fund, Green Growth Fund, on $500m, which will invest in companies developing solutions related to climate change.

PAI partners closes fifth fund on €5.4bn
06/05/2008. Paris-based private equity firm PAI partners has closed its PAI Europe V fund on €5.4bn. It is the largest private equity fund raised to date in Continental Europe.

Bowmark hires Paraag Davé, promotes Mark Salter
06/05/2008. UK mid-market private equity firm Bowmark Capital has appointed Paraag Davé as an investment manager. The firm has also announced the promotion of healthcare and leisure sector expert Mark Salter to senior partner.

Morgan Stanley PE's European team hires Jean-Philippe Barade, Alasdair Thomson
06/05/2008. Morgan Stanley Private Equity has hired Jean-Philippe Barade and Alasdair Thomson to join its London office as executive directors.

Paul Capital closes ninth secondaries fund on $1.65bn
06/05/2008. Paul Capital has closed its ninth private equity secondaries fund, Paul Capital Partners IX, on $1.65bn, above its original hard cap of $1.5bn.

EQT to acquire Strauss Innovation
06/05/2008. The EQT Opportunity Fund has agreed to acquire a majority stake in German private label retail chain Strauss Innovation via a capital increase. Following completion of the transaction, the current majority owner, the Geringhoff family, will continue to hold a significant stake in the company.

Israel Cleantech Ventures closes $75m debut fund
06/05/2008. Israel Cleantech Ventures has closed its debut fund on $75m, above its original target of $60m.

Nordic Capital, Avista Capital to acquire ConvaTec for $4.1bn
06/05/2008. Private equity firms Avista Capital Partners and Nordic Capital have agreed to acquire biopharmaceutical business unit ConvaTec from Bristol-Myers Squibb Company for approximately $4.1bn, subject to adjustments based on ConvaTec's audited 2007 financial statements and closing working capital.

Private equity consortium acquires telecom company GTS Central Europe
06/05/2008. A private equity consortium led by Columbia Capital, M/C Venture Partners and Innova Capital and including HarbourVest Partners, Oak Investment Partners and Bessemer Venture Partners has acquired 100 per cent of telecom service operator GTS Central Europe from Group Menatep Limited. Financial details of the transaction were not disclosed.

PPM Capital renames itself Silverfleet Capital
06/05/2008. European private equity house PPM Capital has changed its name to Silverfleet Capital, following a buy-out in November 2007 from its previous owner, Prudential.

Tony Florence, Paul Walker join NEA's venture growth equity investing practice
02/05/2008. Venture capital firm New Enterprise Associates has appointed Tony Florence and Paul Walker as partners. Florence will focus on growth stage IT investing activities, while Walker will concentrate on later stage biotechnology and life sciences investments.

Headway Capital closes second secondaries fund on €150m
01/05/2008. UK secondaries firm Headway Capital Partners has closed its second fund, Headway Investment Partners II, on its hard cap of €150m. The fund had an original target of €100-120m. It held interim closings in October 2007 and February of this year.

Palamon appoints new CFO
01/05/2008. European mid-market private equity firm Palamon Capital Partners has appointed Gary Pritchard as CFO. Pritchard joins from specialty insurance and reinsurance group Catlin Group.

Catterton closes $300m consumer sector-focused fund
01/05/2008. US consumer sector-focused private equity firm Catterton Partners has closed its Catterton Growth Partners fund on its hard cap of $300m. The fund will target control oriented investments in companies requiring between $10m and $30m of equity capital.

CCMP to sell Safetykleen to Warburg Pincus in £565m deal
30/04/2008. CCMP Capital Advisors has agreed to sell industrial service provider Safetykleen Europe to Warburg Pincus in a deal that values the company at approximately £565m. The senior team at Safetykleen will roll over a 'substantial proportion' of their shareholding and will continue to lead the business going forward, according to a statement.

German firm CFH raises €60m venture capital fund for Saxony
30/04/2008. Leipzig, Germany-based private equity firm CFH has held a first closing on its new technology venture capital fund, Technologiegründerfonds Sachsen (TGFS), on €60m, the target size of the fund. The fund has a hard cap of €75m.

Swiss firm SCM opens Hong Kong office
30/04/2008. Zurich-headquartered SCM Strategic Capital Management has opened a new office in Hong Kong. The news follows the establishment of SCM Strategic Capital Management Asia earlier this year.

BCP hires three new operating partners
30/04/2008. Tom Hodson, Harry Schulman and AJ Wasserstein have joined Baird Capital Partners, the US-based buy-out fund of Baird Private Equity, as operating partners. They will work with BCP’s sector-focused teams in sourcing, evaluating and overseeing portfolio company investments.

Generation Investment Management closes Climate Solutions Fund on $683m
30/04/2008. London-headquartered fund management firm Generation Investment Management has closed its Climate Solutions Fund on $683m. The fund is a 'cross over' fund that will invest in private and public companies.

Israeli high-tech companies raise $617m in Q1 2008
29/04/2008. In the first quarter of this year 135 Israeli high-tech companies raised $617m from venture investors, the highest amount in seven years, according to a quarterly survey from the IVC Research Center. The capital raised in the quarter was 52 per cent above that raised by 121 companies in the first quarter of 2007, and 23 per cent above the previous quarter's amount raised by 115 companies.

Francisco Partners to sell Metrologic to Honeywell for $720m
29/04/2008. Technology-focused private equity firm Francisco Partners has agreed to sell Metrologic Holdings Corporation to industrial supplies manufacturer Honeywell International for $720m.

UK private equity-backed IPOs outperform market over 12 months, Cass report
29/04/2008. Private equity-backed IPOs outperform other IPOs by more than nine per cent one year after their public listing, research published by Cass Business School, London, found. The research was commissioned jointly by the British Private Equity and Venture Capital Association and the London Stock Exchange.

Irish firm Fountain holds €75m first closing on maiden life science fund
29/04/2008. Dublin-headquartered Fountain Healthcare Partners, a spin-out investment team from Elan Corporation's corporate venture capital group, has held a €75m first closing on its inaugural fund, Fountain Healthcare Partners I. The firm initially targeted €40m but later increased the target size of the fund to €100m. It expects a final closing to occur within a year from now.

Bancroft raises €250m third fund, hires Agis Hiliarhopoulos
28/04/2008. CEE and Turkey-focused private equity firm