Gym operator Fitness First, which is owned by buyout shop BC Partners, has filed to raise as much as $549 million in an initial public offering in Singapore, Reuters reported, citing a report in IFR Asia. BC Partners paid 835 million pounds for the company in 2005, Reuters said.
1 min read · 07 February 2011
Al Gore's Generation Investment Management will launch a $500 million fund to invest in Asian stocks, Reuters reported, citing a Bloomberg article. The fund, which will be separate from the firm’s venture capital business, will buy shares of Asian companies that are focused on on "economic, social and environmental" sustainability, Reuters wrote. Former vice president Gore formed London-based Generation Investment Management in 2004.
1 min read · 07 February 2011
Vernon Bryant has joined Texas-based Austin Ventures as a venture partner, and will co-lead the firm’s Texas middle market strategy. Vernon was most recently a partner with buyout shop TGF. He currently serves as a director of San Antonio-based Sterling Foods and Dallas-based ENTACT Environmental Services. Austin Ventures has $3.9 billion under management.
3 min read · 07 February 2011
Cisco will pay $95 million to acquire Raleigh, N.C.-based Inlet Technologies. Inlet, which is a provider of Adaptive Bit Rate digital media processing platforms, is backed by investors including Technology Venture Partners, Core Capital Partners, Telecommunications Development Fund, and the Capital Broadcasting Co.
3 min read · 04 February 2011
Private equity groups TPG Capital and Credit Suisse Private Equity are preparing to exit European bathroom equipment maker Grohe, Reuters reported. A trade sale or initial public offering could come as early as the second half of 2011, Reuters wrote. TPG and Credit Suisse bought Grohe for 1.5 billion euros in 2004.
2 min read · 04 February 2011
The African Development Bank has launched a $111.1 million venture capital fund, New Africa Mining Fund II. The fund, which will focus on mining projects, held a $73.6 million first close in January, and includes investments from Development Bank of Southern Africa, International Finance Cooperation, Swiss Investment Fund for Emerging Markets, and DEG KFW Bankengruppe.
2 min read · 04 February 2011
Two private equity consortia placed second-round bids for medical diagnostics company Beckman Coulter Inc., Reuters reported. Blackstone Group and TPG Capital submitted a bid, as did a second consortium made up of Apollo Management and The Carlyle Group, Reuters said. Beckman Coulter has a market valuation of more than $5 billion.
2 min read · 04 February 2011
Buyout shop Blackstone Group will begin fundraising this year for its next real estate fund, which could reach as high as $10 billion, Reuters reported. The firm raised $10 billion for a similar fund in 2008. That fund, Blackstone Real Estate Partners VI, is about 70 percent invested, Reuters reported.
4 min read · 04 February 2011
Troy Aikman, a Hall of Fame quarterback and Fox Sports analyst has joined the board of directors for private equity-backed restaurant chain Wingstop. Roark Capital Group, an Atlanta-based private equity firm with more than $1.5 billion under management, acquired the chicken wing chain in 2010. Wingstop is based in Richardson, Texas.
3 min read · 04 February 2011
Publicly traded Gale Force Petroleum Inc. has nominated Robert Johnson for its board of directors. Johnson is currently the CEO of TeamSupport.com, a software company focusing on the customer support sector, and is also a general partner at Chenango Capital, an early stage venture capital fund. Gale Force Petroleum is based in Dallas, and is focused on acquiring and exploiting undervalued oil and gas reserves .
2 min read · 04 February 2011
