Private Equity News & Analysis

Christopher Wright, head of Dresdner Kleinwort Capital, says he is confident about Dresdner Bank's merger with Allianz as well as the future of his private equity business.
Advent Venture Partners led the placement which included previous investors Atlas Venture, Schroder Ventures, 3i and Abingworth.
The group has named Derek Gardner, previously of NatWest Equity Partners, as director of the enlarged office.
Global Equity Partners and Go Equity also participated in the round.
The fund, with an E1bn target, will make 10 to 15 investments of up to E300m, most of which as part of its buy-and-build strategy.
The level of investment into the UK has increased from the fourth quarter of last year but figures for the whole year are unlikely to reach the same level as 2000.
Market sentiment has led to the lowest level of European IPO activity in a decade, but investment and venture capital trusts have taken less of a hit.
The deal may be a turning point for the UK automotive parts maker which has been in receivership since its former parent, Finelist, collapsed last year.
The exit has been very satisfactory for Mercury but less spectacular than it might have been.
Falling costs for high yield debt encourage CVC and Cinven to go for an ambitious debt package.

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