Venture debt provider Kreos Capital has strengthened its senior team with the recruitment of Luca Colciago from Noble as a partner. The hire comes as the firm continues to invest its latest fund, which was closed in April and is being deployed at a rapid rate.
In its biggest deal to date, the upstart private equity firm has agreed to invest $325 million for a one-quarter stake in Palm, the publicly traded maker of the Palm Pilot, as well as to tap the developer of the iPod as an executive chairman.
Candover has made a successful exit from its investment in Thule Group, a Swedish company that makes car accessories for equipment transport. The firm has generated an IRR of more than 40 percent from the sale to Nordic Capital, following a two and a half year buy-and-build programme.