Blackstone, the US-based private equity giant, was boosted last year by the recovery of the financial markets. The group recorded economic net income of $703m (€519m) in 2009 but did have to take $875m of charges, mostly because of its 2007 IPO, which pushed the firm into net loss of $715m last year, compared to a loss of $1.2bn in 2008.

The private equity owners of TDC, the Danish telecoms giant that was Europe's largest buyout in 2005, are set to launch a flotation of the business.

Private equity groups including Graphite Capital and LDC are lining up to acquire HobbyCraft, the UK arts and crafts retailer.

The California Public Employees’ Retirement System is set to reduce the number of private equity firms with which it invests, in an attempt to cut costs and boost returns.

Obtineo, Carlyle Group’s Dutch search engine marketing business, has agreed to a merger with LBi International, the Nasdaq and Stockholm-listed digital media and marketing company.

Gibson Dunn & Crutcher has appointed Jeff Roberts, formerly of Freshfields Bruckhaus Deringer, as a partner.

Alvarez & Marsal has bolstered its team in Germany by appointing Paul Taaffe as a managing director to its restructuring and turnaround practice.

A rebound in the value of its portfolio and annual income of $2bn (€1.4bn) has encouraged KKR to prepare for a listing in New York.

British Seafood, the fish importer in which 3i holds a minority stake, has gone into administration after banks pulled the business’s trade credit. At the end of September, 3i’s stake was valued at £81m (€92.2m).

Aureos Capital, the specialist emerging markets investor, has shifted staff out of London to Singapore because of high costs and rising taxes.