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.
Michael Queen, managing partner of 3i’s infrastructure business, sees India as the top destination worldwide for infrastructure dollars during the next three years. Longer term, cash-strapped US will be the best market for infrastructure investment.
The CEO of Capital Dynamics, a Switzerland-based alternative asset investment consultant and private equity investor, anticipates the slowed fundraising environment to persist and closings to be delayed. GPs will not return to market with new funds as quickly as they have in past years, he predicts.
Constance Jay will join the European investment firm’s Paris office to assume the role of investor relations head. The firm is currently raising a €150m mezzanine fund which it hopes to close by the end of 2008.
The largest third quarter private equity deal was JPMorgan’s $250m investment in Café Coffee Day, but the bulk of deals were venture capital investments.
London-based Palamon Capital's investor relations chief expects global financial turmoil to create a pressure-filled situation for LPs with off-kilter portfolios. Investors will become more conservative, likely to avoid fund managers dependent on leverage, she predicts.
$1tr in leveraged loans has been affected by the collapse in investment banking, which has left the sector with far fewer sources of lending than before.
The executive vice chairman of Partners Group believes the US fundraising market will be most affected by the current global financial crisis. He also reckons LPs will begin to push for changes on terms and conditions.
Dubbed Amara, the fund will rely largely on Gulf-based LPs and plans to go public on London’s Alternative Investment Market. The fund has formed a partnership with Pan China Construction to co-invest in joint ventures.
The Japanese firm's third buyout fund is targeting a final close on $2bn by the end of the year.
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