Private equity buy-out news from around the globe

Private equity buy-out news from around the globe

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• Emerging markets private equity slows in line with global slump 09 Mar 2010. Source: AltAssets. Fundraising for emerging markets-dedicated private equity funds slowed in 2009, though investment activity was comparatively strong. Emerging markets captured nine per cent of global private equity fundraising and 26 per cent of global private equity investment, with deal activity by transaction volume down by only 11 per cent, according to new research from the Emerging Markets Private Equity Association.

• Law firms launch investigations into Infogroup deal 09 Mar 2010. Source: AltAssets. With yesterday’s media reports that CCMP Capital has agreed to buy Infogroup Inc corroborated by an official statement, at least three law firms have stepped up to announce they are investigating the veracity of the deal.

• PE firms line up for Marsh & McLennan’s Kroll 09 Mar 2010. Source: AltAssets. A number of major private equity houses have entered first round bids to take control of Kroll, the corporate investigations unit of global insurance broker and consultancy company Marsh & McLennan, for around $1.3bn, the Financial Times reports.

• PE-backed waste management firm Biffa to sell landfill gas business for £350m 08 Mar 2010. Source: AltAssets. Private equity-backed waste management group Biffa has put its landfill gas business up for sale at a price of £350m (€387m), according to reports.

• Harrah's catches break with $5.5bn debt maturity extension 08 Mar 2010. Source: AltAssets. Harrah's Entertainment Inc, the afflicted casino operator owned by private equity firms Apollo Global Management and TPG, has agreed with its lenders to have the maturity on $5.5bn in loans delayed until 2015.

• Citadel launches $150m East Africa co-investment fund 08 Mar 2010. Source: AltAssets. North African private equity firm Citadel Capital is launching a new $150m co-investment fund for Africa, according to reports. The fund, which will be the firm’s first co-investment vehicle, is to focus on East Africa, where the firm has pledged to invest $200m to $400m over the next two years.

• HgCapital discusses £150m UK laundry equipment company purchase 08 Mar 2010. Source: AltAssets. UK private equity firm HgCapital is in exclusive talks to purchase John Laithwaite, a commercial laundry equipment supplier, according to reports. The deal could be worth up to £150m (€165.6m).

• KKR nabs Sen from Citi for India office 08 Mar 2010. Source: AltAssets. KKR has hired the former south Asia CFO of Citigroup, Abhijit Sen, making him responsible for two roles within the private equity firm’s Indian office.

• CalPERS appoints former Barclays exec as chief operating investment officer 08 Mar 2010. Source: AltAssets. The California Public employees’ Retirement System (CalPERS) has appointed Janine Guillot as the pension fund’s chief operating investment officer.

• Cath Kidston to sell business to private equity 08 Mar 2010. Source: AltAssets. UK vintage designer Cath Kidston is in talks with US buy-out firm TA Associates to sell a stake in her retail chain, in a deal that values her business at £100m (€110.8m), according to the Guardian.

• ABRY to take broadband business RCN private in $1.2bn deal 08 Mar 2010. Source: AltAssets. Internet and cable TV company RCN Corporation will be acquired by ABRY Partners, a Boston-based media-focused private equity firm, having agreed to a $1.2bn buy-out.

• CCMP Capital to buy Infogroup for $460m 08 Mar 2010. Source: AltAssets. New York private equity firm CCMP Capital has agreed to buy Infogroup Inc, a data and marketing services business, for approximately $460m, according to the Wall Street Journal.

• Gresham bolts on celebrity management firm 05 Mar 2010. Source: AltAssets. Mid-market firm Gresham Private Equity has grown its share of the UK’s celebrity management sphere with the bolt-on of Michael Kay & Company’s entertainment element, which looks after TV personality Philip Schofield.

• 3i, N.I. Partners partner for care company purchase 05 Mar 2010. Source: AltAssets. 3i and N.I. Partners, the private equity division of the NATIXIS group, have agreed to invest in Vedici, the fifth largest acute care company in France.

• LA's SouthWest Water going private 05 Mar 2010. Source: AltAssets. Los Angeles-based water utility SouthWest Water Company has agreed to be taken private by JP Morgan Asset Management and Water Asset Management for $275m cash.

• Warburg Pincus says goodbye to India head 05 Mar 2010. Source: AltAssets. Warburg Pincus, one of the biggest private equity houses in the businesses, is facing a transition as managing director Rajesh Khanna has handed in his notice to “pursue the formation of an independent investment business in India”.

• Denham Capital to sell US coal producer to Essar Group 05 Mar 2010. Source: AltAssets. Energy-focused private equity firm Denham Capital is to sell US coal producer Trinity Coal to Indian conglomerate Essar Group. In a deal valued at $600m, Essar plans to use the coal to service its steel plant and iron ore operations in North America.

• EFG-Hermes opens debut Syrian office and private equity fund 04 Mar 2010. Source: AltAssets. Listed Arab investment bank EFG-Hermes is to expand into Syria with the simultaneous launch of a private equity fund that will target investments in the Middle Eastern country.

• US fashion group discusses buying Tommy Hilfiger from Apax 04 Mar 2010. Source: AltAssets. UK private equity firm Apax Partners is in talks with US fashion corporation Phillips Van Heusen about a possible sale of portfolio company Tommy Hilfiger, according to reports. A takeover bid by Phillips Van Heusen, which also owns Calvin Klein, could value the clothing brand at $3bn.

• Bridgepoint to take Care UK private 04 Mar 2010. Source: AltAssets. UK mid-market private equity house Bridgepoint is gearing up to take Care UK, a provider of nursing and elderly home care, private in a deal that values the company at £281m (€309.9m).

• Advent prepares opening of New York office 03 Mar 2010. Source: AltAssets. Global private equity firm Advent International is readying the launch of an office in New York, one of the world’s most important financial centres.

• Danish PE industry sees raft of IPOs on the horizon 03 Mar 2010. Source: AltAssets. The Danish private equity industry is anticipating four to five initial public offerings of portfolio companies in the near future, according to Reuters.

• BVCA welcomes report into private equity’s role in accelerating low-carbon economy 03 Mar 2010. Source: AltAssets. Climate change is a problem private equity must address, according to the British Private Equity & Venture Capital Association (BVCA) as it welcomed a new report published by a collaboration of European investors into how to accelerate investment in a low-carbon economy.