Cinven related stories
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BC Partners makes top management changesChairman Jens Reidel has stepped down as part of a planned retirement process, handing co-chairman roles to managing partners Francesco Loredan and Raymond Svider. Next month John Hosgood, Barclays’ former co-head of leveraged finance, will join the firm to lead a push into credit strategies that will be largely focused on purchasing debt in its own deals.
- Private equity buyers sought for debt held by Kaupthing
Investment bank Close Brothers is corralling mid-market GPs to acquire leveraged debt owned by Icelandic bank Kaupthing. The debt relates to such buyouts as Coral Eurobet and Merlin Entertainment Group.
- Veteran Goldman Sachs banker retires
Charlie Bott, chairman of Goldman’s European financial sponsors group, is regarded as the first private equity-dedicated banker. He is replaced by John Waldron, previously co-head of leveraged finance.
- Silverfleet lures European Capital associate
After losing three senior investment team members already this year, European Capital has lost investment team associate Johannes Huttunen to the former captive private equity arm of Prudential.
- Abraaj nears $4bn fund close
Existing LPs have committed $3bn toward the latest buyout fund from the MENASA-focused firm, which has just purchased a controlling stake in the Karachi Electric Supply Company for an estimated price of $400m.
- Boris Johnson praises private equity
Mayor of London Boris Johnson said that private equity was ‘absolutely vital’ to the UK economy, at the opening of a private equity-funded East London community centre this Friday. Johnson was speaking to an audience of volunteers from private equity firms, charity sector representatives and local residents.
- Cinven taps BCG, McKinsey talent for new Hong Kong office
The appointments of Joseph Wan, a partner at BCG, and Richard Cheung, a partner at McKinsey, are aimed at strengthening the firm’s Hong Kong team before the office launches in early 2009. In the meanwhile, both will be based out of London.
- Candover unveils Central and Eastern Europe team
The UK-listed private equity firm has drawn on talent from the European Bank for Reconstruction and Development to staff its Central and Eastern Europe team.
- Cinven’s Munton takes a step back
After nearly 30 years in the buyout industry, one of Cinven’s founding partners is scaling back his time commitment to the firm as it prepares to raise between €8bn and €10bn for its fifth fund. Cinven is also reportedly among the bidders for Anglo-Dutch media group Reed Elsevier, expected to fetch roughly £1bn.
- Cinven takes a slice of European debt boutique
The London-based private equity firm has diversified its buyout business with the purchase of 50 percent stake in Indicus Advisers.