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USS cranks up co-invest programme with double hire

The UK's second largest pension fund the Universities Superannuation Scheme is demonstrating its appetite for alternatives with the appointment of two private equity specialists to lead its co-investment programme alongside its fund investments.

Accent completes 50th deal after €380m fundraising(3)

Swedish mid-market firm Accent Equity Partners has raised €380 million for its latest buyout fund in a matter of weeks. The firm has already begun spending the new fund.

BVCA warns of dire consequences of tax change

The UK Treasury has been advised by the BVCA, in its submission for this year’s pre budget report, not to make changes to private equity taxation because any adjustment could have “dire consequences”.

UK City Minister reassures PE(3)

Kitty Ussher, the pro-European UK Labour MP recently appointed as minister for the City of London, has reassured business leaders that the financial services sector – and private equity in particular – will not be subjected to knee-jerk taxation or regulation.

Maxeda refinancing shelved despite sweeteners(2)

The troubled refinancing of Dutch retailer Maxeda has fallen prey to the current jitters in the credit markets, despite the KKR-led buyout consortium sweetening the offering earlier this month.

Paul Capital adds to new co-investment team(3)

Paul Capital Investments has added former GE Asset Management VP Dan Townsend to its growing ranks.

KKR eyes Macy’s(3)

As Macy’s deals with sluggish sales, Kohlberg Kravis Roberts is reportedly looking to take the US department store retailer private in a $24bn deal.

Industry awaits Walker recommendations(3)

Sir David Walker will today publish his initial findings on how to improve transparency in private equity, as the UK industry hopes for some assistance for its embattled public image.

Cov-lite and Cov-loose every time(2)

As ratings agency Standard & Poor’s criticises covenant loose loans for being covenant-lite by the backdoor, a senior banker tells Toby Lewis cov-lite loans will become extinct.

Marfin hits €5.2 billion target(3)

Greek firm Marfin Investment Group has defied expectations by raising €5.2 billion in a matter of weeks for investments in south-east Europe. It will become the world’s biggest listed investment fund.