LATEST NEWS

Recovery boosts Blackstone

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.

Friday, 26th February 2010
TDC owners eye flotation

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.

Friday, 26th February 2010
Private equity firms line up for HobbyCraft

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

Friday, 26th February 2010
 CalPERS to cut private equity managers

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.

Friday, 26th February 2010
Carlyle’s Obtineo merges with LBi International

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.

Friday, 26th February 2010
Gibson Dunn poaches Freshfields man

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

Friday, 26th February 2010
Alvarez & Marsal boosts restructuring practice

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

Friday, 26th February 2010
KKR’s US float on the cards

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.

Thursday, 25th February 2010
3i’s British Seafood falls into administration

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).

Thursday, 25th February 2010
Aureos shifts staff out of London

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

Thursday, 25th February 2010

QUOTES OF THE WEEK

"If the raft of heralded IPOs is now not going to happen after all, GPs and LPs may have to modify their return expectations further."

Guy Fraser-Sampson, Cass Business School

"Our impression is that corporates have become more aware of the potential benefits of corporate venturing to the enterprise."

Markus Thill, Robert Bosch Venture Capital
Queen fails to save Northern Rock Thu, 18 Oct 2007 May the Esprit be with you Thu, 18 Oct 2007 Flat tax haven Thu, 18 Oct 2007 The deer-hunter Thu, 18 Oct 2007
Q&A: Robert Manz

Enterprise Investors managing partner Robert Manz talks to Real Deals about the new economic reality, getting deals done in 2010 and the looming spectre of regulation.


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LATEST ISSUE

Leader

Venture's victory Venture's victory

The European venture capital industry was given a much-needed fillip at the beginning of this month, when two pieces of good news hit the headlines in the UK.

Top Story

Q&A: Mark Wignall Q&A: Mark Wignall

Fresh from a strong 2009, the chief executive of Matrix Private Equity Partners explains why he is a “small is beautiful” man, and contends that the VCT model remains attractive.

Feature

Competitive disadvantage Competitive disadvantage

Some areas of Central and Eastern Europe may have escaped lightly from the economic downturn, but fierce competition for scarce assets could drive up prices in 2010.  

Comment

From Baird to worse From Baird to worse

Much of today’s most important technology was invented by Europeans, but – as with venture – the Americans are best at “monetising” innovation.

News Analysis

Out with the old... Out with the old...

The departure of Atlas may be bad news for European venture, but a variety of smaller operators are lining up to fill the funding gap.


11.3.10

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