BC Partners related stories
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Time to be boldTwo swallows do not a summer make, but the $6.6bn acquisition of Suddenlink this week, and the rumoured buyout of RBS-owned insurer Direct Line for a similar amount, suggest big buyouts could be coming back into fashion. Given the amount of dry powder that needs to be spent, it’s about time.
- Permira says ciao to Valentino
The firm has agreed the sale of fashion brand Valentino to a Qatari investment group for about €700m, as it raises its fifth buyout fund, which is targeting €6.5bn and is yet to hold a first close.
- Carlyle’s buyout funds grow 5% in third quarter
The value of Carlyle’s buyout funds increased by 12% since the beginning of 2012. Its buyout funds grew by 5% in the third quarter while growth capital valuations were unchanged.
- Lending quartet wrest control of Biffa
After turning down an offer reportedly worth £520m in the summer, Montagu and GIP are set to cede control of Biffa to a quartet of senior lenders.
- BC seals dividend recap of Com Hem as markets improve
BC Partners has refinanced some of the debt used for its €1.9bn acquisition of Com Hem last year, unlocking a dividend which is the first (partial) realisation from the firm’s latest fund.
- CMS restructures private equity team
The London-based law firm has restructured its private equity team following the departure of two senior executives. James Grimwood has been appointed as head of the PE sector team.
- Advent sets post-Lehman fundraising record
Advent International has wrapped up fundraising for its latest global buyout vehicle, which came in at €8.5bn.
- Newington leaves BC Partners after strategy row
The departure of the UK-based firm’s managing partner follows a disagreement with his fellow partners – but it won’t trigger a key-man clause.
- Swedish insurance group sells €1.5bn portfolio
Two buyers – Abu Dhabi Investment Council and Australia’s QIC – acquired the majority of the portfolio that included funds from managers like Apax, Advent, BC Partners and Bain Capital.