Food company Sara Lee Corp. has rejected a buyout offer from private equity firms Apollo Management, Bain Capital and TPG Capital, Reuters reported, citing a story in the New York Post. The buyout shops reportedly made an offer of $18 per share, which Sara Lee considered too low.
1 min read · 26 January 2011
Duet Private Equity is planning to launch a mezzanine debt fund in 2011 that will be quoted on the London Stock Exchange’s main board, Reuters said. The fund, Duet Real Estate Finance Ltd., will invest the net proceeds of its 100 million pounds ($158.1 million) fundraising, and will aim to help fill a European commercial real estate financing gap, Reuters wrote.
2 min read · 26 January 2011
Dutch private equity firm AlpInvest Partners will be bought by a joint venture between the Carlyle Group and AlpInvest’s management, Reuters reported. Financial terms were not released. Two Dutch pension managers, APG and PGGM, are selling their stakes in AlpInvest, but will continue to commit funds to the group, Reuters said. AlpInvest has more than 40 billion euros in funds and commitments.
2 min read · 26 January 2011
Online investment network eToro has raised $8.3 million in funding from Boston-based venture firm Spark Capital, Phoenix, Ariz.-based Social Leverage and other, undisclosed investors. The new funding will help eToro expand its platform. The company now claims roughly 1.5 million users.
3 min read · 26 January 2011
Chicago-based private equity firm Prospect Partners has invested an undisclosed amount in Lawrence, Kansas-based SurePoint Medical. The management-led recapitalization is Prospects Partners’ first investment from its $200 million third fund. Formed in 2006, SurePoint Medical provides mail-order diabetes supplies. Prospect Partners focuses on lower-middle-market investments and manages $470 million across its three funds.
3 min read · 26 January 2011
inVentiv Health, a provider of outsourced clinical services, will buy management consulting firm Campbell Alliance, providing an exit for U.S.-based buyout fund Baird Capital Partners. Financial terms of the deal were not released. Baird Capital Partners invested in Campbell Alliance in 2006. Campbell Alliance specializing in consulting services for the pharmaceutical and biotech industries.
5 min read · 26 January 2011
Bunker Hill Capital, a lower-middle-market buyout shop, has closed its second fund, Bunker Hill Capital II L.P., with $200 million. Bunker Hill makes control investments in lower middle market companies with enterprise values up to $150 million. The firm has offices in Boston and San Diego, Calif.
2 min read · 25 January 2011
Middle-market buyout shop LLR Partners has added four new staff members: Jack Slye as vice president; Irene Lisyansky and Brian Berkin as senior associates; and Scott Williams as a senior analyst. Slye previously served as a principal with Sterling Partners, focusing on consumer, education and health care investments. Lisyansky worked previously in positions at General Atlantic and Deutsche Bank Asset Management. Berkin was previously an associate at RoundTable Healthcare Partners. And Williams was formerly an investment banking analyst for Stifel, Nicolaus & Company.
2 min read · 25 January 2011
Buyout shop TPG Capital is planning to buy 14% of Mumbai-based packaging company Time Technoplast, Reuters reported, citing an article in the Economic Times newspaper. At 65 rupees ($1.42) per share, the deal represents a 30% premium over the company’s closing price Monday.
1 min read · 25 January 2011
France Telecom is in talks to buy a 49% stake in French video sharing site Dailymotion, a company which is backed by venture and private equity firms including Atlas Ventures and Partech, Reuters reported. The venture funds would sell a portion of their shares, Reuters said. France Telecom would pay 58.8 million euros ($80.29 million) for the stake.
3 min read · 25 January 2011
