Western Europe

Palamon-led consortium helps HSBC streamline credit card portfolio(3)

European mid-market firms Palamon and Electra Private Equity as well as Morgan Stanley’s alternative investment arm have bought two high-risk credit cards from HSBC at a discount.

Candover opens first Asia office

The Asia push comes as the firm is looking to buy a 25 percent stake in UK insurance company Towergate.

TPG-BA consortium walks away from Iberia(2)

US buyout firm TPG Capital has abandoned its second bid for a national carrier this year, as the consortium it formed alongside UK airline British Airways has walked away from its bid for Spanish rival Iberia.

Sovereign makes 5.7 return on care business sale(4)

UK mid-market firm Sovereign Capital has sold healthcare business Complete Group making a 5.7 times return on its investment and an internal rate of return of 51 percent over five years after a bolt-on investment earlier this year.

Octopus and Foresight make 4.4x return from outsourcing company(3)

Octopus Private Equity and Foresight Group, the small and medium enterprise investors, have sold their controlling stakes in outsourcing company Covion Holdings with an 84 percent internal rate of return over two and a half years.

Kaupthing acquires data provider for £72.5m(4)

Kaupthing Bank’s private equity arm has bought lifestyle data provider DLG and will pursue a buy and build strategy for the company.

21 Centrale, Quadriga team with trade to buy lingerie

The credit crunch is causing firms to work in partnerships with other bidders even in the lower mid-market.

Three Delta drops Sainsbury’s bid after Qatari talks(3)

Three Delta has withdrawn its bid for Sainsbury’s citing the problems in the credit markets and an equity increase demanded by the UK supermarket’s pension trustees.

West LB syndicates £225m of Islamic Aston Martin debt

The largest Islamically funded leveraged buyout debt in the UK has been syndicated by German bank West LB to investors in the Middle East, some of whom do not participate in Western market debt syndication for religious reasons.

Octopus and Foresight make 4.4x return from outsourcing company(2)

Octopus Private Equity and Foresight Group, the small and medium enterprise investors, have sold their controlling stakes in outsourcing company Covion Holdings with an 84 percent internal rate of return over two and a half years.