3 min read · 06 July 2011
Chicago-based private equity firm Lake Capital Management has acquired the global market research firm ORC International from Infogroup. Terms of the deal were not released. The deal is the latest in a string of changes at Infogroup, including a company structure more focused on its core business, and new hires across the company. ORC International was acquired by Infogroup in 2006. UPDATE: Reed Phillips of Desilva + Phillips provided financial advice to Lake Capital.
3 min read · 06 July 2011
Berkshire Hathaway has joined the group bidding for Citigroup's consumer lending unit OneMain, formerly known as CitiFinancial, Reuters wrote Wednesday, citing a report in the Wall Street Journal. Buffett’s company joins a consortium consisting of private-equity firm Centerbridge Capital Partners and Leucadia National Corp. OneMain is expected to fetch more than $8 billion, Reuters reported.
2 min read · 06 July 2011
Private equity firm 3i Group named Simon Borrows to the post of chief investment officer. Borrows will also join the firm's board when he starts at 3i this Fall. Borrows, who advised on the IPO of 3i in 2994, is currently Chairman of Greenhill & Co. International. Before founding the European operations of Greenhill in 1998, he was the managing director of Baring Brothers International Limited.
3 min read · 06 July 2011
European buyout shop IK Investment Partners is acquiring the French food ingredient manufacturer Savena from Azulis Capital and Céréa Capital. Terms of the deal were not released. The deal is expected to close within four weeks. Azulis Capital and Cerea Capital bought Savena in 2007.
3 min read · 06 July 2011
Abu Dhabi Capital Management held a final close of its first fund -- ADCM Secondary Private Equity Fund – with $45 million. The fund will focus on investing in secondary private equity funds in the MENA region, according to the firm. Abu Dhabi Capital Management will launch its second fund, which will have a target size of USD 100 million, later this year.
1 min read · 05 July 2011
Some of British private equity firm 3i Group’s top investors are planning to vote against the re-election of the company's Chief Executive Michael Queen, Reuters reported, citing the Sunday Times. 3i shareholders including Schroders, BlackRock and Scottish Widows Investment Partnership "are planning to abstain or vote against Queen's re-election, after they said he had rejected demands to return cash to shareholders," Reuters wrote.
2 min read · 05 July 2011
Paris-based buyout shop Chequers Capital has closed its newest fund, Chequers Capital XVI, with 850 million euros ($1.23 billion). The firm exceeded its initial 800 million euro target for the fund. Chequers focuses on buyouts of French mid-market companies across a range of sectors. The firm typically backs companies with between 30 million euro and 300 million euro enterprise value, with typical equity investments of 20 million to 100 million euros.
2 min read · 05 July 2011
The buyout arm of Standard Chartered paid $98 million for a 12% stake in Redington India, a supply chain management company, Reuters reported. Taiwan-based Synnex Technology International Corp., a strategic investor in the company, reportedly cut its stake in Redington.
1 min read · 05 July 2011
China's Hsu Fu Chi International Ltd., a maker of candy and pastries, is in talks with Nestle SA and other overseas companies about a potential buyout, Reuters reported Monday. Hsu Fu Chi is roughly 55% owned by the Hsu family and 15% held by Barings Private Equity.
2 min read · 05 July 2011
