Providence Equity Partners related stories
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Exits outstrip investments in UKUK exit activity in the first six months of the year slightly outpaced new investments for the first time since 2006, according to CMBOR.
- Apax beaten to Polkomtel by local entrepreneur
Buyout firm Apax Partners appears to have lost out to Polish entrepreneur Zygmunt Solorz-Zak (pictured) in its battle to acquire state-backed phone company Polkomtel.
- Cambridge: Glut of uncalled capital boosts prices
The industry has about $376bn of uncalled capital that was raised in the peak credit years, an overhang that is driving up prices and could expand as many firms are raising funds this year, according to Cambridge Associates.
- AXA bags another bank’s private equity portfolio
French group AXA Private Equity, led by Dominique Senequier (pictured), has sealed the acquisition of a $1.7bn portfolio of assets from Citigroup, 14 months after a similar deal with Bank of America.
- TPG hires ex-Goldman executive Steve Sun
Steve Sun, managing director of Goldman Sachs' Principal Investment Area, has joined TPG as a partner on its China team.
- PE trio in $3.3bn Warner Music exit
The record label backed by Bain Capital, Providence Equity Partners and Thomas H. Lee Partners is to be sold to Len Blavatnik’s Access Industries before the end of Q3 2011.
- Sun Capital expects more modest fund size
The firm told LPs at its annual meeting that it will hit the fundraising trail in about 18 months and target $3bn with a hard-cap of $4bn, putting it in line with others managers now raising smaller funds than predecessor vehicles.
- Providence works to keep mega status in Fund VII
LPs and other market sources have questioned the firm's ability to generate outsized returns in mega-funds. Providence recently got a $300m vote of confidence from Washington State.
- Apax goes it alone in Polish auction
Three private equity firms are vying with corporate players to acquire Polish telecommunications group Polkomtel, with binding offers expected to come in above the $6bn-mark in a month’s time.
- Report: Ex-Providence director joins Mary Ma at Boyu
Sean Tong has added his name to the ever-growing list of Chinese nationals leaving Western private equity groups’ Asia operations to strike out on their own.