Middle East

IK takes fire protection buy and build to US(2)

Industri Kapital, the European mid-market buyout firm, has bought Consolidated Fire Protection from Gryphon Partners as it expands sprinkler and fire alarm company Minimax into the US.

Canaan closes $650m venture fund

The US firm’s eighth fund will continue its 20-year investment strategy, targeting early-stage tech and healthcare companies, with an increased focus on Israeli and Indian deals.

Three Delta drops Sainsbury’s bid after Qatari talks(2)

Three Delta has withdrawn its bid for Sainsbury’s citing the problems in the credit markets and an equity increase demanded by the UK supermarket’s pension trustees.

Growth equity deals bolster global venture markets

Year-end 2007 data shows that increased investment in later stage deals drove growth in the US and European VC markets, whereas Israel’s most active firms focussed on seed-stage investments.

OPENED & CLOSED

<p> OPENED &amp; CLOSED 2007-10-01 Staff Writer &lt;strong&gt;OPENED &amp; CLOSED&lt;/strong&gt;&lt;br&gt; &lt;table&gt; &lt;tbody&gt; &lt;tr&gt; &lt;td colspan="5"&gt;FUNDS OPENED&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td&gt;FUND&lt;/td&gt; </p>

AccessTurkey raising &amp;euro;250m fund

The Turkish alternative asset manager is set to raise a domestic mid-market buyout fund, as the country continues to attract international buyout firms while local firms grow in size and number.

PE not included in California Iran ban(4)

The state of California has passed a law requiring that CalPERS and CalSTRS divest from companies that do business in Iran, but unlike similar bans elsewhere, private equity is not affected.

Arcapita sells healthcare company for $395m

The private equity arm of Bahrain-based Arcapita Bank purchased TLC Health Care Services nearly four years ago in a $189 million transaction.

Three Delta returns to QIA for £500m equity in Sainsbury’s bid(2)

Specialist acquisition firm Three Delta’s bid for Sainsbury’s awaits an 8 November deadline as its talks with the supermarket’s pension trustees near completion.

Ithmaar recruits business veteran

Bahrain bank Ithmaar has recruited Andrew Pocock from Gulf One Investment Bank where he worked in infrastructure. The firm is looking to invest $5 billion in an undisclosed infrastructure project.