PEI Staff

The longtime head of Merrill Lynch’s dominant private equity placement business is stepping down next month to become a partner at the upstart media investment group led by Silver Lake’s Roger McNamee and including rock star Bono.

A team of UK private equity professionals led by Lyndon Lea has formally separated from Dallas-based Hicks, Muse, Tate & Furst.

The San Francisco investment firm has agreed to sell Seminis, a producer of fruit and vegetable seeds, for $1.4bn, more than double what it paid for the business eighteen months ago.

The €360 million buyout of Cesare Fiorucci from the Fiorucci family is the firm's fifth investment in Europe.

The financial services company is reportedly considering the sale or closure of its $3bn private equity arm, MMC Capital.

Although the initial public offering of the Blackstone portfolio company priced below initial expectations, the total proceeds of $800m will still provide a substantial dividend for the private equity firm.

Former Rothschild’s banker Stephan Kruemmer has been appointed managing director of 3i’s German operation.

The New York private equity firm has agreed to sell restaurant chain Charlie Brown’s to Trimaran Capital Partners for $140 million, generating a return of 4x its initial investment.

The two private equity firms have agreed to acquire the telecommunications company for approximately $750m, a purchase price of roughly 6.25x EBITDA.

Ripplewood Holdings and other investors have announced their intention to sell a further 34 percent stake in Shinsei, the Japanese bank that delivered them an initial fortune early last year.