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Friday Letter PEI Award winners find success in uncertain timesDuring December, thousands of private equity industry participants in more than 50 countries took the time to think about which firms, advisors and transactions truly stood out from the rest in 2010. They voted in our annual PEI Awards readers’ poll, the results of which were revealed this week and show the brightest firms in the industry have flourished despite challenging conditions.
- Advent pushes cap on Fund VII to €8.5bn
The firm has enjoyed strong demand from the LP community for its seventh investment vehicle, which is said to be set to close around year's end.
- Advent stays active with deals
Advent has agreed to buy a Danish IT company from EQT and has also made a tender offer for a diversified German perfume business as it keeps busy in the last months of 2012.
- Wicks approaches target for Fund IV
The media-focused firm has collected roughly 70% of its $560m target for its fourth fund, which will invest in information, education and media companies in the lower mid-market.
- Roark on track to hit $1.5bn hard-cap
The firm has been in the market with its third fund, which will target consumer and retail companies, like Arby’s fast food chain (pictured) which the firm bought last year.
- Hudson Clean Energy targets $1.5bn for Fund II
The firm is targeting $500m more than its fund focused on clean technology and energy investments in North America and Western Europe.
- HitecVision hits $1.5bn hard-cap in four months
In a sign that both Nordic private equity and the energy sector remain in vogue, Norwegian group HitecVision’s latest fund has reached its hard-cap in less than four months.
- EQT prepares next exit after €4.75bn fund close
As the firm toasts one of the biggest European final fund closes since the collapse of Lehman Brothers, EQT is hard at work planning its next exit: the sale of Danish business KMD.
- Brazos names head of business development
The Dallas, Texas-based firm has named former Goldman Sachs executive Glenn Askew managing director of business development. Askew joined Brazos in 2004.
- Roark buys Arby’s in $430m deal
The US mid-market firm has expanded its fast-food portfolio, which includes Auntie Anne's and Seattle's Best Coffee, with the addition of popular sandwich chain Arby's.