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Morgan Stanley lays off Asia head of PE bankingJonathan Mandel, who joined the bank's Hong Kong office this March, has been caught up in a round of redundancies.
- Denham hires Bert Koth to bolster natural resources
Former BHP Billiton executive will join Denham’s London office to focus on mining investments.
- ING trims Asian leveraged finance team
The Dutch financial firm expects lower deal volume, but will remain active in the region through its Hong Kong, Tokyo and Singapore offices. Separately, the heads of leverage finance for Citi Australia and UBS have resigned.
- Investcorp, Barclays buy Italian vending machine maker for €800m
The private equity firms acquired Europe’s largest food and beverage vending machine maker from Merrill Lynch Global Private Equity and Argan Capital using about €600m of debt arranged by eight lenders.
- Probitas: $94bn of infrastructure funds coming to market
The California-based placement agent also estimates that $21.5bn has been raised for infrastructure in the first nine months of 2008, which is less than the $34.3bn raised last year, but more than the 2006 total of $17.9bn.
- Pomona hires former AIG Investments executive
The US secondaries, fund of funds and co-investment firm has brought on Jordan Robinson for product development and made additional senior hires for secondary investment and the Asian fund of funds team.
- Hypo fallout could fuel 'wait and see attitude'
The bailout of the German commercial property lender, Hypo Real Estate - which is partially owned by private equity firms JC Flowers and Grove International - could prompt investors to wait for further distress to enter the market, according to ING Real Estate's European chief investment officer Will Rowson at ExpoReal.
- Electra buys €45m AXA stake in Steadfast fund
The London mid-market firm has added German private equity shop Steadfast, formerly BHF Private Equity, to its list of foreign partners, which include France’s TCR Capital, Italy’s Sinergo and Spain’s N+1.
- Parcom buys into entertainment business
Dutch billionaire media mogul ‘Joop’ van den Ende has sold 60 percent of his theatre company’s ticketing business to ING’s captive private equity arm Parcom in a transaction that will create Europe’s largest independent ticket retailer.
- Morgan Stanley pulls out of Daewoo deal
Morgan Stanley Private Equity Asia has pulled out of its proposed acquisition of the Korean electronics manufacturer, reportedly over disputes with an electronics labour union. Ripplewood had previously agreed to pay $740m for Daewoo, but the deal also fell through.